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Earnings Roundup
Chordiant met its guidance for the third quarter ended September 30; was able to cut its net loss substantially this quarter; and Sento Corporation was also able to increase revenues and cut losses in its most recent quarter.
Posted Oct 23, 2003
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Chordiant met its guidance for the third quarter ended September 30, but the numbers were still below the previous quarter's results. Total revenues for the third quarter of 2003 were $17.8 million, at the upper end of Chordiant's guidance of $17 to $18 million, but shy of the $18.9 million reported for the third quarter of 2002. Net loss was $2.1 million, compared to a net loss of $5.0 million for the third quarter of 2002. Patrick Walravens, managing director and senior research analyst at JMP Securities, says that Chordiant could become an important company to watch due to its "strong revenue visibility, potential upside for 2004 and attractiveness as an acquisition candidate." CRM provider KANA was able to cut its net loss substantially this quarter, even during a revenue slump. The company reported revenues for the third quarter ended September 30 of $13.8 million, compared to $18.0 million in the third quarter of 2002 and $12.1 million in the second quarter of 2003. Net loss was $4.1 million or $0.17 per share, compared to $6.8 million or $0.30 per share in the third quarter of 2002 and $9.9 million or $0.43 per share in the second quarter of 2003. "We continued our focus on the Global 100 institutions and continued to expand our relationships with our integration partners in the third quarter. We also made significant product advances to our EJB and .Net knowledge-powered CRM-application suite," Chuck Bay, CEO of KANA, said in a statement. Seeing some decent gains was Harte-Hanks, which reported third quarter 2003 earnings of $23 million, an increase of 3.3 percent. Revenue increased 5.7 percent to $239.4 million for the period ended September 30. These results compare to earnings of $22 million on revenues of $226.5 million in the third quarter of 2002. Sento Corporation was also able to increase revenues and cut losses in its most recent quarter. The company announced financial revenues for its second fiscal quarter and six months ended September 30 of $4.1 million, compared to $3.5 million for the same quarter last year, a 17 percent increase. Net loss for the quarter was $478,000, compared to a net loss of $1 million in the previous second quarter.
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