Kana Turns Profit, Onyx Closes Gap

 
 
By Dennis Callaghan  |  Posted 2003-01-28 Print this article Print
 
 
 
 
 
 
 

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.
Onyx shaved its fourth quarter loss from $10.1 million to $1.7 million year-to-year. Revenues however also fell, dropping from $19.6 million to $17.2 million. License revenue dropped from $6.6 million to $5.8 million. The revenue news was more positive for contact center software developer Concerto Software Inc. as fourth-quarter revenues for the Westford, Mass.-based company climbed to $25.9 million from $21.9 million year-to-year. Concerto, formed from the merger of Davox Corp. and Cellit Technologies last January, did take a $4.6 million loss in the quarter though after a $403, 000 profit in the fourth quarter of 2001 after the company took charges for litigation costs, amortization and restructuring.
 
 
 
 
 
 
 
 
 
 
 

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