Kenexa Expects 3Q11 Financial Results to Be at or above High-End of Previously Issued Guidance
October 11 2011 - 7:00AM
Business Wire
Kenexa® (Nasdaq: KNXA), a global provider of business solutions
for human resources, today updated its guidance for the third
quarter 2011, ended September 30, 2011.
For the third quarter, the Company expects non-GAAP revenue to
be at or above the high-end of its previously-issued guidance range
of $72.0 million to $74.0 million. Non-GAAP operating income is
also expected to be at or above the high-end of the
previously-issued guidance range of $7.1 million to $7.5 million,
leading to non-GAAP net income per diluted share that is at or
above the high-end of the previously issued range of $0.19 to
$0.20. Kenexa’s non-GAAP results exclude stock-based compensation
expense, amortization of acquired intangibles, acquisition-related
fees, the purchase accounting reduction for Salary.com’s revenue,
and accretion associated with a variable interest entity.
Rudy Karsan, Chief Executive Officer of Kenexa, said, “While
macro economic data points remain volatile, Kenexa executed at a
high level, won important new customer relationships and drove
solid revenue growth during the third quarter. We saw continued
momentum across our suite of technology, content and services
offerings, and believe that Kenexa continues to gain market share
as a result of our differentiated, end-to-end value proposition.”
Karsan added, “We are currently hosting a record number of
attendees at our annual customer conference, which is further
evidence of the growing awareness of Kenexa and our momentum with
customers.”
As previously announced, Kenexa’s executive management team will
be presenting today at its Analyst Day, being held in conjunction
with its annual World Conference, live from the Walt Disney Resort
in Florida. Presentations will begin at approximately 8:45 a.m.
Eastern Time and are expected to conclude at 11:00 a.m. Eastern
Time. The Analyst Day will be webcast live and available by
visiting the Investor Relations section of the Company’s Web site
at: www.kenexa.com. The webcast will also be archived on the
Company’s Web site for a limited time.
Forward-Looking Statements
This press release includes certain “forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, but are not
limited to, plans, objectives, expectations and intentions and
other statements contained in this press release that are not
historical facts and statements identified by words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates" or words of similar meaning. These statements may
contain, among other things, guidance as to future revenue and
earnings, operations, expected benefits from acquisitions,
prospects of the business generally, intellectual property and the
development of products. These statements are based on our current
beliefs or expectations and are inherently subject to various risks
and uncertainties, including those set forth under the caption
"Risk Factors" in Kenexa’s most recent Annual Report on Form 10-K
as filed with the Securities and Exchange Commission and as revised
or supplemented by Kenexa’s quarterly reports on Form 10-Q. The
updated guidance presented in this press release is based on
financial information which is preliminary and unaudited. Actual
results may differ materially from these expectations due to
changes in global political, economic, business, competitive,
market and regulatory factors, Kenexa’s ability to implement
business and acquisition strategies or to complete or integrate
acquisitions. Kenexa does not undertake any obligation to update
any forward-looking statements contained in this document as a
result of new information, future events or otherwise.
Non-GAAP Financial Measures
This press release contains non-GAAP financial measures. Kenexa
believes that non-GAAP measures of financial results provide useful
information to management and investors regarding certain financial
and business trends relating to Kenexa’s financial condition and
results of operations. The Company’s management uses these non-GAAP
results to compare the Company’s performance to that of prior
periods for trend analyses, for purposes of determining executive
incentive compensation, and for budget and planning purposes. These
measures are used in monthly financial reports prepared for
management and in quarterly financial reports presented to the
Company’s Board of Directors. The Company believes that the use of
these non-GAAP financial measures provides an additional tool for
investors to use in evaluating ongoing operating results and trends
and in comparing its financial measures with other companies in the
Company’s industry, many of which present similar non-GAAP
financial measures to investors.
Management of the Company does not consider such non-GAAP
measures in isolation or as an alternative to such measures
determined in accordance with GAAP. The principal limitation of
such non-GAAP financial measures is that they exclude significant
expenses that are required by GAAP to be recorded. In addition,
they are subject to inherent limitations as they reflect the
exercise of judgment by management about which charges are excluded
from the non-GAAP financial measures.
In order to compensate for these limitations, management of the
Company presents its non-GAAP financial measures in connection with
its GAAP results. Kenexa urges investors and potential investors in
the Company’s securities to review the reconciliation of its
non-GAAP financial measures to the comparable GAAP financial
measures which it includes in press releases announcing earnings
information, and not to rely on any single financial measure to
evaluate the Company’s business.
We have not provided a reconciliation of forward-looking
non-GAAP financial measures to the directly comparable GAAP
measures because, due primarily to variability and difficulty in
making accurate forecasts and projections, not all of the
information necessary for a quantitative reconciliation is
available to us without unreasonable efforts.
About Kenexa
Kenexa (NASDAQ:KNXA) helps drive HR and business outcomes
through its unique combination of technology, content and services.
Enabling organizations to optimize their workforces since 1987,
Kenexa’s integrated talent acquisition and talent management
solutions have touched the lives of more than 110 million people.
Additional information about Kenexa and its global products and
services can be accessed at www.kenexa.com. Follow Kenexa on
Twitter: @kenexa.
Note to editors: Trademarks and registered trademarks
referenced herein remain the property of their respective
owners.
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