Kenexa moves to a quarterly profit

(AP) — Kenexa Corp., which makes employee management software, on Tuesday said it moved to a fourth-quarter profit from a loss due to a declining share price in the year-ago period.

Profit rose to $294,000, or $0.01 per share, from a loss of $120.9 million, or $5.36 per share, in the year ago quarter.

The year-ago loss was due to a $167 million goodwill impairment charge after shares tumbled. The company's stock dropped 88 percent during the bear market that ended March 9, and closed at $11 on Tuesday.

Revenue fell 13.3 percent to $39.1 million, due to a drop in professional services and other revenue.

In the current fiscal quarter, the company expects to produce between $38 million to $40 million in revenue, while analysts are expecting $40 million in revenue.

For the full year, Kenexa expects revenue between $160 million to $168 million, while analysts are predicting revenue of $168 million.