CHELMSFORD — Taking advantage of an influx of new customers interested in using cloud-based technologies, Kronos Inc. recently reported roughly 5 percent quarterly gains in both revenue and earnings before interest, tax, depreciation and amortization (EBITDA).
For the three-month period ending March 31, Kronos’ second fiscal quarter of 2015, the company reported revenue of $262.1 million, up from $248.7 million in the same period a year earlier.
EBITDA for the most recently-completed quarter was $84.3 million, up from $80.5 million a year ago.
Privately-held Kronos is Chelmsford’s largest private employer, with about 1,200 workers in three buildings along Route 129. The company makes labor-management software for commercial customers and government entities.
“Kronos had yet another strong quarter with high performance in the small and midsize business and enterprise segments of the market, and within all targeted vertical industry sectors,” said Aron Ain, Kronos’ chief executive officer.
In a phone interview Friday with The Sun, Ain said 82 percent of the new business Kronos earned last quarter was linked to its cloud-related products.
“There’s an endless amount of opportunity here,” Ain said, noting that the eye-popping percentage gain is in part attributable to “a small demoninator.”
Nevertheless, “we’re incredibly thrilled by it,” he said. “It’s much faster than we expected.”
Cloud computing refers to the concept of “distributed computing” over a network — the ability to run a program or application on many connected computers at the same time.
Kronos is experiencing rapid growth in India — 50 percent year-over-year, Ain said — as more organizations are turning to the company to better manage their workforces, with particular strength in retail, manufacturing, and services and distribution. Kronos is also seeing big growth in China, Ain said.
“These are tough markets to break into, but there is so much opportunity,” he said.
Ain also said he is proud that Kronos has won many awards, state and national, for its treatment of its 4,000-plus employees.
“To be able to recruit great people and retain them allows us to produce better products and services,” he said. “We made it a priority to get people to want work here, and stay here.”
Kronos’ software applications include workplace scheduling, timing and attendance, as well as payroll and human-resource tasks.
The company was founded by Ain’s brother, Mark, in 1977, originally producing microprocessing time clocks.
Follow Dan O’Brien on Twitter @dobrien_thesun.
