Callidus Software beats and raises 2014 outlook, shares +1.5% AH

|About: Callidus Software, Inc. (CALD)|By:, SA News Editor

Callidus Software (CALD) shares are up 1.5% AH after the company soundly beat expectations in Q3.

Total recurring revenue was 21.1M, with SaaS revenue increasing 26% Y/Y and 8% sequentially to $17.1M. Services revenue jumped 38% Y/Y to $8.8M.

Gross margin expanded 9% Y/Y to 65%.

Management guides for Q4 revenue of $28M-$29M (vs. consensus of $28.8M) and EPS of $0.03-$0.04 ($0.04). Full-year revenue guidance is updated to $110.2M-$111.2M from $108.5M-$109.5M with EPS of $0.06-$0.07.

For 2014, the company sees revenue of $125M-$126M (vs. consensus of $123M) and SaaS revenue growth of over 25%.

PR, conference call at 4:30 pm ET