KANA Down in Q3; Stays Optimistic for Q4
eCRM solutions provider KANA Tuesday announced that it had lost slightly more per share than predicted earlier this month, but maintained its early October projection that it would break even by the close of Q4.
For 3Q 2001, KANA (NASDAQ: KANA) earned $17.4 million in revenues, meeting the low end of its Oct. 2 projection of $17 million to $20 million.
However, the company reported a pro-forma net loss of ($0.23) per share, failing to meet its earlier estimate of ($0.18) to ($0.20) per share. KANA had lost only ($0.13) per share pro-forma in the year-ago quarter.
KANA remains confident that it will break even in by the end of Q4 2001, restating its projection of success from earlier this month. The company is projecting revenues of $24 million for the current quarter.
"While Q3 was a difficult quarter for KANA and the entire global economy, we have continued to see tremendous support from our customers," said Chuck Bay, CEO and president of KANA. "We are confident that KANA is well positioned to both add market share and enhance its bottom line."