World News: 15:07 GMT Monday 20th March 2017. [Asure Software, Inc. via Globe Newswire via SPi World News]
AUSTIN, Texas, March 20, 2017 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Asure Software, Inc. (NASDAQ:ASUR), please note that numbers in the "rows of the and tables have been updated.
The corrected release follows:
Asure management reaffirmed its financial guidance for fiscal 2017 ending December 31, 2017 and introduced non-GAAP net income per share guidance:
“Q4 was another strong quarter for us, highlighted by double-digit year-over-year growth in revenue, gross profit, EBITDA, and net income,” said Asure CEO, Pat Goepel. “Our performance capped off a transformative year for the company, as highlighted by our acquisition of Mangrove Software, which significantly expanded our total addressable market opportunity. On top of this, we enhanced and unified our software platform, expanded our sales resources, and bolstered our balance sheet through the equity raise we completed last December.
“More recently, we closed three strategic tuck-in acquisitions in January, which has enabled us to add to our rich technology, product platform, and growing sales team. From an organic growth perspective, we have focused heavily on training our salesforce to sell our entire application suite, which we expect will help shorten sales cycles, as we develop an even greater amount of touch points with our clients. We’re also actively looking to build strategic channel partnerships with large software companies and other organizations that don’t have competitive products, leveraging inherent synergies between HCM’s employee-rich data and workspace management’s facilities-rich data.
“When we look back at the accomplishments and progress we’ve achieved throughout the period, 2016 will go down as one of the most pivotal years in Asure’s history. However, the groundwork has only just been laid. Going forward, we will build on this platform by continuing to invest in our sales and marketing teams while building on our channel partnerships to expand our presence in our key growth markets, such as HCM. We expect this to drive strong organic growth, but will also be focused on supplementing this with strategic acquisitions that will help us scale even further, we believe we are in a good position to achieve our guidance for 2017.”
Asure management will host a conference call today at 11:00 a.m. Eastern time (10:00 a.m. Central time) to discuss these financial results and outlook. Asure CEO and CFO will host the presentation, followed by a question and answer period.
Date: Monday, March 20, 2017Time: 11:00 a.m. Eastern time (10:00 a.m. Central time)U.S. dial-in: 877-853-5636International dial-in: 631-291-4544Conference ID: 81040936
Please call the conference telephone number ten minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 949-574-3860.
The conference call will be broadcasted live and available for replay via the investor section of the company's .
Asure Software, Inc. (NASDAQ:ASUR), headquartered in Austin, Texas, offers intuitive and innovative technologies that enable companies of all sizes and complexities to operate more efficiently. We help build companies of the future. Our cloud platform has helped more than 7,500 clients worldwide to better manage their people and space for a mobile, digital, multi-generational, and global organization. Asure Software's suite of solutions range from HCM workforce management solutions, time and attendance to workspace asset optimization and meeting room management solutions. For more information, please visit .
Statements in this press release regarding Asure's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such risks and uncertainties could cause actual results to differ from those contained in the forward-looking statements.
Net Earnings Excluding One-Time Expenses is calculated by combining the company’s GAAP Net Earnings, or earnings per share, with expenses that are one time in nature and are not expected to recur on a dollar or per share basis.
Free Cash Flow is computed by subtracting capital expenditures from cash flow from operations, each as determined in accordance with GAAP and as reflected in the statement of cash flows.
Brad Wolfe, CFO
Asure Software, Inc.
Investor Relations Contact:
Matt Glover and Najim Mostamand
Liolios Group, Inc.
Globe Newswire: 15:07 GMT Monday 20th March 2017
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