In a release on
Non-GAAP net income, which excludes stock-based compensation expense and amortization of acquired intangible assets, was
For 2013, recurring revenues increased 26 percent to
"2013 was a good year for us with recurring revenue growth at 26 percent, total revenue growth at 24 percent, and customer retention greater than 96 percent. We now have more than 15 million people records in our customer cloud environment," said
"We are honored to be recognized for the third year in a row as one of
-Recurring revenues grew by 23 percent for the fourth quarter of 2013 and by 26 percent for the 2013 year-both compared with the same periods in 2012. The increase was primarily attributable to revenue growth from our cloud offering. Recurring revenues for the fourth quarter of 2013 were 81 percent of total revenues as compared with 80 percent of total revenues for 2012's fourth quarter. Recurring revenues were 82 percent of total revenues for the 2013 year versus 80 percent for 2012.
-Ultimate's total revenues for the fourth quarter of 2013 increased by 21 percent compared with those for the fourth quarter of 2012. Ultimate's total revenues for 2013 increased by 24 percent compared with those for 2012.
-Our operating income increased 25 percent, on a non-GAAP basis, for the fourth quarter of 2013 to
-Ultimate's annualized retention rate exceeded 96 percent for its existing recurring revenue customer base as of
-Net income, on a non-GAAP basis, for the fourth quarter of 2013 increased to
-The combination of cash, cash equivalents, and marketable securities was
-Days sales outstanding were 70 days at
-In the fourth quarter of 2013, Ultimate acquired EmployTouch, an
-In the fourth quarter of 2013, Ultimate acquired the assets of AccelHR, a
-During the year ended
-In addition, as of
-We further enhanced UltiPro's global HCM capabilities, including expanded global payroll integration and global language support; delivered a modern new UltiPro user experience; and introduced a platform configuration interface that helps customers make desired system changes to achieve a highly tailored HCM solution.
-We showcased our new UltiPro Recruiting solution, scheduled for general release in the second quarter of 2014, at the
-We introduced UltiPro TouchBase, an interactive mobile time clock device that collects time punches and highlights the information most critical to employees and managers on a touchscreen tablet device for payroll and cost accounting. Customers can leverage photos for accurate capture of employee time-entry, preventing 'buddy punches,' and can validate transactions using PIN entry, HID,
-We introduced a new set of service offerings known as UltiPro Managed Services ("UMS"). UltiPro Managed Services allows our customers to have our UMS team handle select components of HR, payroll, and benefits management for them instead of overburdening their in-house staff and to tailor the service package to suit their unique needs.
-Ultimate was named a Gold Winner in the Best New Product Feature of the Year category by Best in Biz Awards, the only independent business awards program judged by members of the press and industry analysts. Ultimate won the award for our UltiPro Retention Predictor- an insight-driven tool designed to give HR professionals and managers the ability to forecast an employee's intent to remain with or leave the organization. This retention forecasting tool uses an algorithm powered by 50 key indicators and enables leaders to better understand their workforce dynamics, providing them time to proactively intervene as necessary. The talent-based data can also inform decision-making about the types of new programs to build for fostering long-term employee relationships.
-Our UltiPro Retention Predictor also won (in addition to the Best in Biz Award mentioned above) a Gold award in
-Ultimate was named among the top 10 most ethical businesses in
-In January, for the second year in a row, Ultimate was recognized as one of the Achievers 50 Most Engaged Workplaces in
-In January, for the third year in a row, Ultimate was named to
Ultimate provides the following financial guidance for 2014:
For the first quarter of 2014:
-Recurring revenues of approximately
-Total revenues of approximately
-Operating margin, on a non-GAAP basis (discussed below), of approximately 17 percent.
For the year 2014:
-Recurring revenues to increase by approximately 25 percent over 2013,
-Total revenues to increase by approximately 23 percent over 2013, and
-Operating margin, on a non-GAAP basis (discussed below), of approximately 20 percent.
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In a release on