Kenexa Ranked in Enterprise Top Five by HRO Today Magazine’s RPO Baker’s Dozen Ranking…from Kenexa

August 25, 2011

 

Company Recognized for Customer Satisfaction and Breadth of Service

HRchitect featured Kenexa in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Derek Bluestone, VP Product Marketing appeared on the HRchitect WebMingle on June 17, 2010. HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended the Kenexa Analyst Day in May, 2010 and the Kenexa World Conference in 2009 and 2010.

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

Kenexa (NASDAQ:KNXA), a global provider of business solutions for human resources, today announced it has been ranked in the elite Enterprise Top Five in HRO Today magazine’s annual RPO Baker’s Dozen. The ranking is a direct result of RPO customer surveys, which were compiled from 266 companies submitting more than 500 surveys from which 466 survey respondents were verified. Kenexa has been on the RPO Baker’s Dozen since the ranking’s inception seven years ago.

Kenexa holds a unique position among RPO providers.  The company is a single provider for multi-country RPO programs with an intense focus on delivering a higher quality of candidate.  To support this mission, the company leverages its wide range of offerings such as assessments and talent management solutions to create a single global recruitment solution strategy.

Kenexa RPO Practice Leader, Phil Stewart, commented, “As the RPO category becomes even more competitive, the ability to effectively deliver comprehensive solutions that leverage all of the tools in the HR and recruiting toolbox is what differentiates a vendor. Kenexa has proven that time and time again, especially as we win significant new business and grow our existing relationships. It’s an honor to be recognized by the RPO buyers’ community through a top spot on the annual Baker’s Dozen.”

Elliot Clark, CEO of SharedXpertise, publishers of HRO Today magazine, said, “The annual Baker’s Dozen gives buyers the opportunity to share their experiences with the top providers in the RPO sector. Once again, Kenexa has taken top honors as a leading enterprise RPO that is delivering quality of service and earning high marks for customer satisfaction.”

For more information on Kenexa, please visit www.kenexa.com

 
Matt Lafata, HRchitect

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Halogen Software Closes Best Quarter on Record…from Halogen Software

August 19, 2011

 

40% Year Over Year Growth in Annual Recurring Revenue, Strong Customer Retention, Satisfaction and Product Innovation Mark Record Second Quarter of 2011 for Talent Management Leader

HRchitect featured Halogen Software in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems vendors that businesses should consider. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

Halogen Software today announced the close of the company’s best quarter on record. Halogen’s growth in annual recurring revenue has accelerated, moving to a 40 percent increase year over year at the end of Q2 2011. The quarter was also marked by a number of significant new customer wins in addition to strong customer retention rates. The company also introduced significant new product additions to its award winning talent management suite, and received industry and customer accolades for its market leadership and customer satisfaction.

Halogen’s growth in the quarter was highlighted by the addition of a number of organizations to its client roster from across the vertical market sectors where it maintains a strong foothold – healthcare, professional and financial services, manufacturing, education, hospitality and public sector. Just a few of these new clients include: The American Registry of Radiological Technologists, Penn-Mar Organization, Inc., i365 Inc., Municipal Employees Credit Union of Baltimore, Inc., County of Chester, MM Management Group, OHL International, First West Credit Union, and San Francisco General Hospital and Trauma Center. Growth outside North America was also noteworthy with the addition of well recognized international customers such as International Baccalaureate Organization, Plus One Minus One, and Live Payments Pty Ltd.

“We selected Halogen as our talent management provider because they clearly demonstrated a commitment to customer satisfaction with us from the start,” said Casey Quinn, Associate Director Employee Development, Municipal Employees Credit Union of Baltimore, Inc. “Not only do their solutions address our business needs for managing performance, and expanding our talent management capabilities to drive business results, but their people are clearly focused on being partners in our success.”

Also in the second quarter, Halogen Software launched Halogen eRecruitment™ at the SHRM Annual Conference, bringing to market the first applicant tracking system to fully bridge talent acquisition with all other talent management functions. Halogen’s soon to be released Talent Management Suite Version 11, which includes the Halogen eRecruitment module, makes it the first of the market leaders to deliver a complete, organically built solution. Halogen eRecruitment has received advanced praise by clients for this purpose-built link to all other talent functions.

“As a talent focused organization we are looking for a system that can communicate with the other talent management tools we use while enabling us to measure how new hires are performing,” says Lara Parker-Edson, HR Recruiter/Generalist, Hudson Health Plan. “We like that Halogen eRecruitment is designed to link to other Halogen products to provide quality of hire metrics that can be used to evaluate our hiring sources and ensure we take the most cost-effective approach.”

Other highlights from Halogen Software’s second quarter: 

For more information on Halogen Software, please visit www.halogensoftware.com

 
Matt Lafata, HRchitect

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Peoplefluent Delivers Latest Version Of Widely Deployed Recruiting Management System…from Peoplefluent

August 17, 2011

 

New Look and Feel Advances User Experience; Enhancements Improve Workflows and Add Platform-Agnostic Framework for Mobile Applications

HRchitect includes Peoplefluent in our list of top Talent Acquisition Systems vendors and top Talent Management Systems vendors that businesses should consider. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

Peoplefluent, offering a unique combination of best-of-breed mobile and SaaS suite solutions for Talent Management, Vendor Management and Workforce Compliance and Diversity, today unveiled details of Version 5.0 of its Recruitment Management System (RMS).  With this version, the single sign-on user interface to Peoplefluent’s global RMS has been updated to align with the UI of its award-winning talent management system. This significant user interface change will also be reflected in the company’s Vendor Management System (VMS) offering later this year.

Intelligently driving decisions in an actionable manner, RMS 5.0 eliminates the “hunt and search” approach to finding important information that is a challenge for other recruiting systems, by placing data and analysis at the forefront of the solution. Proactively harnessing the power of corporate data is part of Peoplefluent’s vision, exemplified with their launch of the Decision Views platform in 2009 and validated by the company’s 2011 acquisition of Aquire, a global leader in workforce planning and analytics solutions.

In response to the increase of the number of enterprise smartphone and tablet app users – forecast to be as high as 830 million by 2016 according to ABI Research – Release 5.0 has a platform-agnostic framework that better positions the application to take advantage of mobile devices such as the iPad (see Peoplefluent’s Fluency on the Move mobile applications launched earlier this month). This change also increases the number of browsers supported by RMS such as Firefox, Chrome and Safari.

“As more organizations seek to enable their workforces with applications that traverse a wide range of devices – desktops, laptops, smartphones and tablets – it’s crucial that we be platform-agnostic and deliver the industry’s leading user interface. Our clients are telling us that having relevant data presented to them in an intuitive, easy-to-navigate manner enables them to gain efficiencies and make better business decisions more quickly. Peoplefluent is committed to listening closely to our customers and turning their requirements into reality,” said Tom Tisdale, SVP of Sales for Peoplefluent.

Recognizing how busy HR professionals and corporate recruiters interact with applications, colleagues and candidates, Version 5.0 of RMS incorporates a number of significant Recruiting Portal user interface updates that add value without changing the respective task such as: 

  • Workflow improvements that increase hiring workflow navigation and visibility
  • Dashboards using drag-and-drop widgets that provide easy access
  • A redesigned contemporary user interface featuring interactive icons and intuitive navigation

To lend further support, substantive application changes include the ability to view full lists of candidates and improved candidate search functionality; visual indicators highlighting where candidates are in the workflow; “export on-the-fly” capability; and email spell check and calendar tools. RMS 5.0 adds to the self-service administration capabilities of career site management, putting greater control in the hands of customers.  For example, customers may choose to deployment options that let candidates complete a full job application on their mobile devices. With RMS 5.0, organizations can readily edit the text at their career sites, ensuring convenience, cost savings and the flexibility needed to support employment branding initiatives.

Version 5.0 of Peoplefluent’s RMS is available now. 

For more information, please visit www.peoplefluent.com.

 
Matt Lafata, HRchitect

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WorkForce Software Announces Accelerating Growth, Record-Breaking Second Quarter…from WorkForce Software

August 13, 2011

 

EmpCenter suite enjoys significant gains as ‘solution of choice’ for large employers

Howard Tarnoff, Senior Vice President, and Marc Moschetto, Vice President of Marketing, from WorkForce Software appeared on the HRchitect WebMingle on August 12, 2010. HRchitect’s Matt Lafata, one of the industry’s leading Talent Management Systems analysts, attended WorkForce Software’s Vision 2010 conference.

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and stringent compliance demands, announces record-breaking revenues and net income for the second quarter and first half of 2011. Accelerating momentum in several verticals, continued growth in deployments to professional environments, multi-application purchases by new clients, and the acquisition of numerous large, global clients all contributed to the company’s exceptional growth. In the first half of 2011, WorkForce Software recorded a record net income, bolstered by a 61% increase in revenue, the company’s highest in its 12-year history. The company continues to maintain a strong balance sheet and its committed backlog and recurring revenue also reached record levels.

Adoption Accelerates Among Enterprise Clients
Numerous clients selected the EmpCenter® workforce management suite in the first half of 2011, representing a broad range of industries including manufacturing, higher education, energy, utilities, and the public sector. With an average size of more than 7,700 employees, these clients were predominantly large employers with complex workforce management needs. Included in WorkForce’s latest clientele are one of the “Big Five” Canadian banks, a Global 500 electronics manufacturer, and a commercial and consumer products manufacturer with 19,000 employees and more than a dozen household brands.

Mid-market organizations are also selecting EmpCenter in record numbers, with many taking advantage of the same configurability of their larger peers while also benefiting from the solution’s ease of use and rapid deployment capabilities. WorkForce’s momentum is also driven by its unique ability to deliver licensed solutions behind the customer’s firewall and on a SaaS model, which is more common in mid-sized clients. Demonstrating its industry-leading scalability, organizations ranging in size from 1,000 to 45,000 employees selected WorkForce Software for workforce management in the 2nd quarter. One commonality across the spectrum of industries and company sizes is a more sophisticated set of goals driving workforce management initiatives.

EmpCenter Buyers have Strategic Aims
WorkForce Software’s tremendous first half signaled a shift among mid-sized and large enterprises towards solutions that deliver far more than ‘punch in, punch out’ automation. As evidence of this shift, all of WorkForce’s recent clients will be deploying EmpCenter to their professional staff, in environments such as banks, high tech firms, and educational institutions in order to understand and manage their labor activities. The majority of clients that selected WorkForce Software in the first half of 2011 will also be leveraging multiple EmpCenter products in the initial rollout, recognizing the tremendous business value of advanced scheduling, absence management, and labor analytics capabilities tied into the corporate time & attendance platform.

“We’re seeing a strong push for more strategic approaches to workforce management,” commented Kevin Choksi, WorkForce Software’s CEO. “Increasingly, HR departments are looking to gain greater insight through labor analytics and take a proactive approach to managing compliance with leave regulations, while streamlining their workforce processes. This shift has greatly benefited WorkForce Software because we uniquely combine an uncompromising solution with a team of workforce management experts that bring years of compliance and workforce management experience to our clients.”

EmpCenter’s broad suite and enterprise-grade capabilities are emerging as the best fit for the new, strategic buyer of workforce management solutions. In late 2010*, Gartner analyst Jim Holincheck reported that, “Customers have implemented niche workforce management solutions for many years.  Often, those implementations were site-specific, resulting in a hodgepodge of different solutions from different vendors. Increasingly, we see organizations looking at consolidating these systems and standardizing their labor management practices.”

Industry Leadership through Unmatched Configurability
WorkForce Software also saw a surge of interest in several industries characterized by unique requirements that few other vendors can address. In higher education, for example, EmpCenter’s multiple assignments capability manages student employee schedules with multiple positions with ease, a process that is heavily manual and error-prone with systems from other vendors. WorkForce Software added seven large higher education clients in the first half of 2011, representing approximately 20,000 employees and operating nearly a dozen campuses across the country.

Similarly, energy and utilities firms have extensive and overlapping pay rules that apply in different scenarios, scores of which come into play for remote and field workers. These rules are often union-negotiated and can change over time to comply with new union agreements or state and provincial requirements. EmpCenter manages all of these pay and regulatory rules entirely through configuration, which delivers full automation for even the most complex environments and reduces the cost of ownership as needs change.

“We’re excited about the potential associated with our new partnership with WorkForce Software,” said Thomas P. Jansen, Chief Information Officer at Central Hudson Gas & Electric. “Our field employees have dozens of unique labor contract rules that require manual validation with other time and labor systems. We evaluated a lot of options before selecting EmpCenter as the solution that we anticipate will best meet our needs without the need for custom code.”

“EmpCenter offers unparalleled flexibility through the most robust rules engine in the industry,” noted Kathy Cannon, WorkForce Software’s co-founder and VP of Product Management. “This distinction has earned a groundswell of attention and interest in industries that had historically struggled to manage time and labor automation, not to mention compliance demands. The first two quarters of 2011 saw WorkForce Software further consolidate leadership positions in higher education and energy, as it becomes clear that EmpCenter can truly deliver the advantages of automation.”

For more information on WorkForce Software, please visit www.workforcesoftware.com
Matt Lafata, HRchitect

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Cornerstone OnDemand Announces Second Quarter 2011 Financial Results…from Cornerstone OnDemand

August 9, 2011

 

  • Record Q2 gross revenue of $17.4 million, a 64% year-over-year increase
  • Bookings 1 for Q2 grew 90% year-over-year
  • Added 89 new clients in Q2, bringing the total to over 640
  • Signed a blanket purchase agreement with the U.S. Department of the Treasury

HRchitect featured Cornerstone OnDemand in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems and top Learning Management Systems vendors that businesses should consider. Charles Coy participated in the HRchitect WebMingle on January 16, 2009. Cornerstone OnDemand participated in the Talent Management Systems Beauty Pageant in December 2008, where they were crowned the winner.

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

Learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) last week announced results for its second quarter ended June 30, 2011. 

Gross revenue for the second quarter of 2011 was $17.4 million, representing a 64% year-over-year increase compared to the same period in 2010. 

Bookings, which the company defines as gross revenue plus change in deferred revenue, was $20.9 million for the second quarter, representing a 90% year-over-year increase.
 

“We are quite bullish about the strong momentum of the business in the first half of this year, which is certainly the strongest start to a year in our history. We are executing in our core markets, with rapid acceleration in our bookings and new client acquisitions, while simultaneously beginning to expand into new markets. And we are capturing global demand for integrated learning and talent management solutions through a growing international ecosystem of direct sales and indirect sales channels,” said Adam Miller, President and CEO. 
 

“We also are pleased to announce that our multi-year investment in public sector operations is now paying dividends,” continued Miller. “In the second quarter, we signed a five-year blanket purchase agreement with the U.S. Department of the Treasury that authorizes, but does not guarantee, the purchase of up to $20 million in software and services from Cornerstone depending on actual task orders received from the government.  The first task order under the blanket purchase agreement was executed in the second quarter in the amount of approximately $400,000.  Because the U.S. Treasury operates the HR Connect Program Office, one of five Federal Shared Service Centers for the civilian sector of the federal government, the blanket purchase agreement gives federal agencies beyond the Treasury the ability to purchase and deploy Cornerstone’s solution. We are proud to help bring talent management best practices to the federal sector.” 
 

During the second quarter of 2011, the company used approximately $5.0 million in cash flow from operations and approximately $6.3 million in unlevered free cash flow. Cornerstone ended the second quarter with more than 640 clients and approximately six million users, representing 76% year-over-year growth of the company’s client base.

At June 30, 2011, the company’s cash and cash equivalents were $48.7 million and the company’s short term investments totaled $34.1 million.
 

Cornerstone’s loss from operations for the second quarter of 2011 was $7.2 million, as compared to a loss from operations of $2.0 million for the same period in 2010, reflecting the company’s increased investments in scaling its operations and the impact by a non-cash charge related to a common stock warrant in the amount of $2.5 million. 
 

In accordance with Generally Accepted Accounting Principles, or on a “GAAP” basis, Cornerstone’s net loss for the second quarter of 2011 was $7.1 million, as compared to net loss of $5.4 million for the same period in 2010.  Net revenue and GAAP net loss for the second quarter of 2011 was impacted by the non-cash charge related to a common stock warrant issued to ADP of $2.5 million. Non-GAAP net loss1 for the second quarter of 2011 was $3.4 million, or $(0.07) per share, as compared to non-GAAP net loss1 of $2.1 million, or $(0.24) per share, for the same period in 2010.  Non-GAAP results exclude common stock warrant charges, expenses related to stock-based compensation and related employer-paid payroll taxes, changes in the fair value of preferred stock warrants, accretion related to preferred stock, and amortization of debt discount and issuance costs as well as fees related to the early retirement of debt.

For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.

 
Matt Lafata, HRchitect

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Kenexa Announces Financial Results for Second Quarter 2011…from Kenexa

August 9, 2011

 

HRchitect featured Kenexa in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Derek Bluestone, VP Product Marketing appeared on the HRchitect WebMingle on June 17, 2010. HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended the Kenexa Analyst Day in May, 2010 and the Kenexa World Conference in 2009 and 2010.

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

Kenexa (Nasdaq: KNXA), a global provider of business solutions for human resources, last week announced operating results for the second quarter, ended June 30, 2011.

For the second quarter of 2011, Kenexa reported total GAAP revenue of $69.0 million, with non-GAAP revenue of $71.3 million after eliminating the $2.3 million GAAP adjustment to deferred revenue resulting from the October 2010 acquisition of Salary.com, Inc.  Non-GAAP revenue was $44.9 million for the second quarter of 2010. Within total non-GAAP revenue, subscription revenue was $52.2 million for the second quarter of 2011, an increase of 45% compared with $36.1 million in the second quarter of 2010.  Professional services and other revenue was $19.1 million for the second quarter of 2011, an increase of 119% compared to $8.7 million for the second quarter of 2010. 

“Kenexa’s better than expected second quarter performance was the result of high customer interest levels, solid execution and Kenexa’s differentiated value proposition.  An increasing number of organizations around the world are looking for a strategic HR solutions partner, and Kenexa’s unique combination of software, proprietary content and services is driving continued market share gains,” said Rudy Karsan, Chief Executive Officer of Kenexa.  “We are increasing our outlook for 2011 based on our strong second quarter results and client momentum, though we continue to monitor the economic environment closely as macro data points remain highly variable on a global basis.”

Non-GAAP income from operations, which excludes share-based compensation expense, acquisition-related fees, amortization of acquired intangibles, the purchase accounting impact to Salary.com’s deferred revenue, a benefit related to a legal settlement, and non-recurring litigation charges, was $6.4 million for the three months ended June 30, 2011.  This was above the Company’s guidance of $5.4 million to $5.8 million and represented an increase of 69% compared to non-GAAP income from operations of $3.8 million for the three months ended June 30, 2010. 

Non-GAAP net income available to common shareholders, which excludes the items listed above and accretion associated with a variable interest entity, was $4.7 million for the three months ended June 30, 2011, compared to $3.1 million for the three months ended June 30, 2010.  Non-GAAP net income available to common shareholders was $0.18 per diluted share for the quarter ended June 30, 2011, up 38% compared to $0.13 per diluted share in the second quarter of 2010.  Non-GAAP net income per diluted share for the second quarter of 2011 was $0.01 above the Company’s guidance of $0.16 to $0.17 and included a $0.01 negative impact from higher shares outstanding.  The Company’s follow-on offering of common shares during the quarter was not anticipated at the time guidance was provided.  

Kenexa’s income from operations for the three months ended June 30, 2011, determined in accordance with GAAP, was $0.4 million, compared to income from operations of $1.7 million for the same period of 2010. GAAP net loss available to common shareholders was approximately $1.6 million, or a loss of $0.06 per basic and diluted shares for the three months ended June 30, 2011, compared to net income of $1.0 million, or $0.04 per basic and diluted share, in the same period of 2010.

A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Kenexa had cash, cash equivalents and investments of $127.5 million at June 30, 2011, compared to $19.7 million at the end of the prior quarter.  The increase in cash was primarily related to the company’s follow-on offering of common shares during the quarter, which provided $91.7 million in net proceeds including the execution of the overallotment option.  The Company also generated $16.8 million in non-GAAP cash from operations for the second quarter. 

Deferred revenue was $84.9 million at June 30, 2011, an increase of 47% from June 30, 2010 and up from $82.2 million at the end of the first quarter of 2011. 

Other Second Quarter and Recent Highlights

 

  • More than 50 “preferred partner” customers were added during the quarter (defined as customers that spend more than $50,000 annually), an increase from the over 30 preferred partner customer additions in the year ago period.
  • The average annualized revenue from the Company’s top 80 customers, or P-cubed metric, was greater than $1.5 million, an increase from the over $1.1 million level in the second quarter of 2010.
  • On May 25, the company completed a public offering of 3,450,000 shares of its common stock at $27.75 per share. Kenexa received net proceeds of approximately $91.7 million after taking into consideration the execution of the overallotment option and deducting underwriting discounts and commissions and offering expenses that are payable by Kenexa.

Business Outlook

Based on information as of today, August 2, 2011, the Company is issuing financial guidance as follows: 

Third Quarter 2011*: The Company expects GAAP revenue to be $70.5 million to $72.5 million.  Excluding the GAAP adjustment to deferred revenue, resulting from the Salary.com acquisition, the Company expects non-GAAP revenue to be $72.0 million to $74.0 million, and non-GAAP operating income to be $7.1 million to $7.5 million. Assuming an effective tax rate for reporting purposes of approximately 20% and approximately 28.0 million shares outstanding, Kenexa expects its non-GAAP net income per diluted share to be $0.19 to $0.20. 

Full Year 2011*: The Company expects GAAP revenue to be $271.0 million to $275.0 million.  Excluding the GAAP adjustment to deferred revenue, the Company expects non-GAAP revenue to be $279.0 million to $283.0 million, and non-GAAP operating income to be $27.5 million to $28.5 million. Assuming an effective tax rate for reporting purposes of approximately 20% and approximately 26.5 million shares outstanding, Kenexa expects its non-GAAP net income per diluted share to be $0.77 to $0.80.

* Kenexa’s non-GAAP results  excludes stock based compensation expense, amortization of acquired intangibles, acquisition-related fees, the purchase accounting reduction for Salary.com’s revenue, a benefit related to a legal settlement, non-recurring litigation charges and accretion associated with a variable interest entity.

For more information on Kenexa, please visit www.kenexa.com

 
Matt Lafata, HRchitect

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Taleo Announces Second Quarter Results…from Taleo

August 9, 2011

 

Billings up 36% Year Over Year; Deferred Subscription and Support Revenue up 45% Year Over Year; Added 275 New Customers; 7 Greater Than $250k in Annual Subscription Value

HRchitect featured Taleo in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Kevin Marasco, VP Brand Marketing with Taleo appeared on the HRchitect WebMingle on November 6, 2009. HRchitect attended the 2010 TaleoWorld conference and HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended Taleo’s annual Sales and Services meeting in 2010 & 2011.

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

Taleo Corporation (NASDAQ: TLEO), the global leader of SaaS-based Talent Management solutions, last week announced strong results for its second quarter 2011.

“We saw exceptional growth and momentum across key metrics in our second quarter,” said Michael Gregoire, Taleo’s Chairman and CEO. “We are seeing more customers standardizing on Taleo across all areas of talent management and they tell us that the talent intelligence they garner from Taleo is giving them a powerful competitive advantage.”

Taleo delivered the following results for the second quarter 2011: 

Second Quarter Revenue: Subscription revenue for the second quarter was $55.2 million, an increase of 15% on a year-over-year basis. Subscription revenue was reduced by a $6.5 million reserve for the settlement of claims asserted by the United States government. The claims related to a subcontract entered into in 2002 through which services were provided to the Transportation Security Administration (“TSA Settlement”). For further details on the TSA Settlement, please see our report on Form 8-K filed on August 4, 2011. Professional services revenue for the second quarter was $14.5 million, an increase of 74% on a year-over-year basis. Total revenue for the second quarter was $69.7 million, an increase of 24% on a year-over-year basis, which includes the reduction of $6.5 million reserve for the TSA Settlement.

Non-GAAP subscription revenue for the second quarter was $63.6 million, an increase of 32% on a year-over-year basis. Non-GAAP professional services revenues for the second quarter was $15.2 million, an increase of 82% on a year-over-year basis. Non-GAAP subscription revenue for the second quarter has not been reduced for the $6.5 million TSA Settlement. Total second quarter non-GAAP revenue was $78.7 million, an increase of 39% on a year-over-year basis.

Second Quarter Loss per Share: Second quarter net loss per share was $(0.20), compared to a net loss per share of $(0.04) a year ago.

Significant items impacting net loss per share included: 

  • The TSA Settlement, which reduced second quarter revenue by $6.5 million;
  • An agreement reached with Kenexa, disclosed in our filing on Form 8-K on July 5, 2011, under which we agreed, among other things, to dismiss with prejudice all outstanding lawsuits, to cross license certain patents, and to make a one-time cash payment of $3.0 million. The agreement resulted in a $2.4 million charge to general and administrative expenses in the second quarter; and
  • $3.2 million in cumulative refundable tax credits associated with Taleo’s acceptance during the second quarter into a Quebec provincial investment tax credit program for 2009, 2010 and 2011. The credits were reflected as a reduction in cost of revenues and operating expenses in the second quarter.

Non-GAAP net income per fully diluted share was $0.27, compared to non-GAAP net income per fully diluted share of $0.14 a year ago.

An explanation of the non-GAAP measures used in this press release is included in the section below titled “Non-GAAP Financial Measures” and a reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release.

Cash: Cash generated from operations for the first half of 2011 totaled $19.4 million as compared to $21.3 million in the first half of 2010. Cash flow in 2011 has been impacted by the settlement of the Kenexa lawsuits, acquisition related spending and working capital requirements. Total cash and cash equivalents finished the quarter at $148.4 million, a decrease of $96.5 million from the prior year due primarily to the acquisitions of Learn.com and Cytiva.

Customers: In the second quarter, 275 new customers chose Taleo’s Talent Management solutions for recruiting, performance, learning and/or compensation management, including: Western Union, Bausch & Lomb Incorporated, Devon Energy, Invesco and Volkswagen Group of America. In the second quarter we were awarded 7 new contracts of $250,000 or larger in first year subscription revenue, underscoring the market interest in larger, global deployments and in multiple component suite solutions.

Billings: Billings, defined as the change in short-term deferred subscription revenue plus non-GAAP subscription revenue, was $69.2 million in the second quarter, up 36% year-over-year.

For more information on Taleo, please visit www.taleo.com

 
Matt Lafata, HRchitect

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PDS and Halogen Software Form Partnership …from Halogen and PDS Software

August 9, 2011

 

HRchitect featured Halogen Software in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems vendors that businesses should consider. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!

PDS, a leading developer of human resource, benefits, recruiting and payroll systems, today announced its partnership with Halogen Software, a leader in talent management solutions. Through this relationship, PDS will be able to offer its customers a comprehensive performance management solution that complements its Vista HRMS®.

“Our focus is on HR, payroll, benefits, and recruiting solutions,” said George Brady, vice president of PDS. “Although we also offer some performance management functionality as part of our core offering, some of our clients need more robust performance management features and functionality and through this partnership with Halogen we can now provide them a more comprehensive solution. Both companies offer organically developed HR solutions that address the needs of mid-market organizations, making this an ideal partnership to better serve our customers.”

“Halogen’s proven, affordable talent management suite combined with PDS’s HRMS solutions will enable joint customers to more easily share critical employee information between their HRMS and talent management processes,” said Michael Gaines, director of Strategic Alliances at Halogen Software. “We’re pleased to partner with PDS in supporting the needs of mid-market organizations.”

For more information on Halogen Software, please visit www.halogensoftware.com

For more information on PDS Software, please visit www.pdssoftware.com

 
Matt Lafata, HRchitect

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