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Kenexa Improves

Kenexa logo newThe company improved its financial performance over 2008 in a big way, though it still lost millions. Reporting its annual and 4th quarter numbers on Feb. 2nd, Kenexa said that for the year it lost $31.1 million on revenue of $157.7 million. Though the 2009 revenue was off 22.6 percent from 2008, the loss was more than two-thirds smaller than the $104.7 million it lost in 2008.

On a positive note, Kenexa did manage a small profit of $355,000 for the 4th quarter.

The sharp decline in 2009 revenue and Kenexa’s warning that revenue would improve only slightly — $160 million and $168 million — this year prompted a decline in the stock price. It closed at $11 a share before the financial release, dropped sharply in after hours trading, but regained most of the ground and closed today at $10.53.

Meanwhile, today Kenexa reported it was rated a “major player” in the annual IDC MarketScape: Worldwide Integrated Talent Management 2010 Vendor Analysis. According to Kenexa’s announcement, IDC described it as having “strengths in global reach, tools to help prospects and clients justify investment, and a large R&D organization that takes advantage of offshore resources.”

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