SuccessFactors narrows 3Q profit loss on revenue increase
By APTuesday, October 27, 2009
SuccessFactors narrows 3Q profit loss
SAN MATEO, Calif. — Business software maker SuccessFactors Inc. narrowed its third-quarter loss Tuesday as it accounted for a stock-based compensation expense.
The San Mateo, Calif., company said it lost $2 million, or 3 cents per share, down from its $20.4 million loss, or 37 cents per share, in the third quarter of 2008.
Excluding $2.6 million in stock-based compensation expense, SuccessFactors said it earned $589,000, or 1 cent per share.
Analysts surveyed by Thomson Reuters expected the company to break even for the quarter. Analysts typically exclude one-time charges.
Revenue for the quarter ended Sept. 30 was $38.7 million, up 30 percent from $29.7 million in the same period last year.
SuccessFactors lowered its 2009 profit guidance to a loss of 4 cents per share from between 6 cents per share and 7 cents. The outlook excludes an estimated stock-based compensation expense.
However, the company raised its revenue guidance for the year to between $150.1 million and $150.6 million, from between $147 million and $148 million.
Shares rose 9 cents, to close at $16.38.
