KANA announced preliminary results for its fiscal second quarter ended June 30, 2002.
KANA (NASDAQ: KANA), the leading provider of external-facing eCRM solutions, announced in July 2 preliminary results for its fiscal second quarter ended June 30, 2002.
For the second quarter, KANA expects to report revenue of approximately $17 million. Based on these estimated revenues, the Company expects to report a net loss of approximately $24 to $30 million, which includes anticipated losses of approximately $14 to $18 million resulting from the reassessment of a long-term project.
“The second quarter presented one of the most challenging market environments for enterprise software that we have seen,” said Chuck Bay, CEO and president of KANA. “While we have built a strong pipeline of business through our strategic partner relationships, as the quarter came to a close we saw a number of buying decisions delayed into the second half of this year.”
“Customer confidence in eCRM solutions continues to rise and KANA’s pipeline remains strong,” said John Huyett, CFO and EVP of KANA. “However, given the uncertainty associated with the enterprise software environment and ongoing reductions in IT spending, the Company expects Q3 revenues to be roughly in line with Q2 results.”
KANA will host a conference call today to discuss its preliminary results and outlook. The call will begin at 1:30 p.m. PDT/4:30 p.m. EDT. The dial in number is (913) 981-5520. The call will also be Web cast on the Investor Relations section of our Web site at www.kana.com
KANA will release second quarter results on Thursday, July 18 after the market closes. A conference call will be held later that day at 1:45 p.m. PDT/4:45 p.m. EDT to discuss results and outlook in more detail. Investors are invited to listen to the conference call on the Investor Relations section of our Web site at www.kana.com
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