Bloomington's Ceridian HCM Holdings records annual sales of over $1B for first time

Ceridian HCM Holdings saw a fourth quarter sales bump of more than 25%, pushing the Bloomington software enterprise company's annual revenue over $1 billion for the first time.

Despite the sales bumps, though, the company posted a loss for the quarter and for the full year.

The company also promoted Leagh Turner from president and chief operating officer to co-CEO and added her to the board of directors.

"I am very pleased to report that we closed fiscal year 2021 with strong momentum and performance," said David Ossip, co-chief executive, in a news release.

The company, which published the financial results after the stock markets closed on Wednesday, lost $9.5 million, or 6 cents a share, compared with a loss of $17.3 million, or 12 cents a share, in the same period a year ago.

Earnings adjusted for one-time charges were 6 cents a share, above analysts' expectations, but down 33% from the 9 cents a share in the fourth quarter of 2020.

Quarterly revenue for the company — whose Dayforce software provides enterprise-wide human resources and payroll functions — was $282.1 million, up 26.6%. Revenue was up 25% for the last three quarters of 2021 and now above pre-pandemic levels.

The company expects revenue to continue growing 23% to 25%, with revenue reaching $1.19 billion to $1.22 billion for this fiscal year.

As the company transitions to a co-CEO structure, Turner will focus on day-to-day operations.

Ossip, who also is chairman of the company, will focus more on innovation, including the Dayforce Wallet service, which allows employees to be paid between regular pay days.