Kenexa stock slides on lowered expectations - Philadelphia Business Journal:

jabire2389.blogspot.com
Kenexa (NASDAQ:KNXA) shares ended the day at $16.29. Kenex said it lowered its guidance because the economyh had caused implementations of its recruitinhg and retention software to be slowed or The Wayne, Pa., company said Wednesday afternoon it now expectx to post revenue of $54 million to $56 million in the thirdr quarter, down from its previous estimatwe of $57 million to $59 Kenexa expects non-GAAP operatinbg income of $10.3 million to $10.6 million, down from $11.4 million to $11.7 million, and non-GAAP net income of 35 to 36 centsd per fully diluted share, down from 38 to 39 cents per fullhy diluted share.
For the year, Kenexa expects to post revenudof $213 million to $217 million, non-GAAPP operating income of $42.67 million to $43.4 million and non-GAA P net income of $1.43 to $1.46 per fully dilutesd share. It had expected to post revenue of $225 million to $230 non-GAAP operating income of $45.2 million to $46.2 milliohn and non-GAAP net income of $1.52 to $1.55 per fullhy diluted share. The full-year guidance includes a one-timr expense of $2.3 million, which will be recognized over the courss ofthe year, associated with the openingy of an office in India in the firstr quarter.
Kenexa’s non-GAAP financial measures exclude stock-based compensationj and amortization of acquired intangible assetes relatedto acquisitions. The company says it uses them becauser they provide useful information to management and investors regarding certain financial and businessz trends relatingto Kenexa’s financiall condition and results of operations. GAAP standws for generally acceptedaccounting principles.