Kana Turns Profit, Onyx Closes Gap
The much-beleagured CRM software industry got some mildly positive news Tuesday in the earnings reports of Kana, Onyx.The much-beleagured CRM software industry got some mildly positive news Tuesday in the earnings reports of Kana Software Inc. and Onyx Software Corp. Kana turned a mild profit while Onyx nearly broke even. In a sector where 9- and 10-digit losses have not been uncommon in quarterly reports, both earnings reports offered some hope of future stability. Both companies however also saw revenues fall from the prior year period.
Kana managed a modest $118,000 net profit after losing $24.2 million in the fourth quarter of 2001. The Menlo Park, Calif.-based company did however see revenues fall, from $25.3 million to $18.7 million year-to-year. License revenues were hardest hit, falling from $13.6 million to $9.3 million.