Software maker Callidus raises revenue outlook

Callidus Software expects strong 3Q and raises 2013 sales forecast; shares advance

Associated Press

NEW YORK (AP) -- Business software maker Callidus was upbeat about its third-quarter results on Tuesday and raised its sales forecast for the year.

Its shares jumped 92 cents, or 11 percent, to $9.52 in aftermarket trading.

The company, which makes sales and marketing software, now expects to report $28.5 million to $29 million in revenue for the third quarter. It had predicted $26 million to $27 million for the three months through Sept. 30, while analysts forecast $26.6 million, according to FactSet.

Callidus said it signed two annual contracts worth more than $1 million during the quarter.

For the full year, the Pleasanton, Calif., company now believes its revenue will be between $108.5 million and $109.5 million. Callidus' previous forecast had called for $106 million to $109 million, and analysts expected $106.8 million, on average.

Callidus Software Inc. is scheduled to report its full third-quarter results after the market closes on Oct. 31.

The company's shares declined 30 cents, or 3.4 percent, to close at $8.60 on Tuesday. They're up 89 percent this year.

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