KANA Software Announces Preliminary Second Quarter 2006 Financial Results that Exceed Expectations
Leading Provider of Multi-Channel Customer Service Solutions Expects Positive EBITDA
MENLO PARK, Calif.—July 10, 2006 – KANA Software Inc. (Pinksheets: KANA.PK), a world leader in multi-channel customer service, today announced preliminary financial results for the second quarter ended June 30, 2006.
KANA estimates that its total revenues for the second quarter of 2006 were between $13.8 million to $14.3 million, an increase of 29% to 34% over total revenues for the second quarter of 2005. License revenue is expected to be approximately $5.4 million to $5.9 million which represents a 128% to 150% increase over the second quarter of 2005. This marks the sixth consecutive quarter of total revenue growth for the company. Based on these ranges, KANA will report positive EBITDA and expects to be close to profitability on a GAAP basis for the second quarter of 2006.
The Company plans to file its Form 10-Q for the first quarter 2006 by the end of the month, which will bring its financial reporting current. The Company plans to file its Form 10-Q for the second quarter 2006 within the Securities and Exchange Commission’s guidelines. KANA will schedule a conference call for investors shortly after the Form 10-Q for the second quarter 2006 is filed.
“We are very pleased with the estimated revenue results for Q2 as well as our expectation of positive EBITDA and nearing GAAP profitability for the quarter,” said Michael Fields, CEO at KANA. “We are excited that the new sales and marketing initiatives we have put in place, the backshoring of development, and the continued focus on providing the most innovative multi-channel customer service solutions on the market are yielding positive results for the Company.”
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