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PR Contact |
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For public relations
inquiries, please contact:
Melissa Stahley
Consona Corporation
317.249.1270
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Press Release
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Cupertino, CA, November 14, 2005 - KNOVA Software, Inc. (OTC Bulletin
Board: KNVS), a leading provider of Service Resolution Management (SRM) applications,
today announced the financial results for the third quarter ended September 30,
2005.
Our results of operations include the consolidated results of ServiceWare and Kanisa
from and after our February 8, 2005 merger. Please note that for comparison purposes,
the results of Kanisa are not included in 2004 operating results.
Revenue for the third quarter was $5.7 million as compared to revenue of $4.0 million
for the third quarter of 2004. The net loss for the quarter was approximately $942,000
or $0.11 per share compared to net income of approximately $201,000 or $0.04 per
share for the third quarter of 2004.
Revenue for the nine months ending September 30, 2005 was $16.8 million as compared
to $9.7 million for the same period last year. Year to date net loss was $4.4 million
or $0.53 per share as compared to a loss of $2.3 million or $0.46 per share for
the same period last year. The company's cash, cash equivalents, and marketable
securities balance was $9.3 million at September 30, 2005.
Commenting on the financial results, Bruce Armstrong, president and CEO of KNOVA
Software, stated, "Our second quarter as a combined company was characterized by
continued strong execution, solid revenue and market momentum. In addition to current
customers expanding their implementations with us, new customers continue to choose
us over other vendors in highly competitive deals. These wins reflect the differentiated
business value our solutions deliver."
Highlights of KNOVA's third quarter include continued sales momentum, a highly successful
user conference and widespread industry recognition:
- Eight new customer deals in key target markets, including the telecommunications
and high technology sectors
- 28 follow-on deals with existing customers
- Discovery 2005, KNOVA's worldwide user conference, attracted more than 175 attendees
and was sponsored by Siebel, HP and eVergance among others
- Visionary Quadrant positioning in Gartner's Magic Quadrant report on Information
Access for the second consecutive year
- Highest ranking in Patricia Seybold Group report for Knowledge Management and Cross-Channel
Customer Service
- Highest ranking in Basex report on Knowledge-enabled CRM
- Certification by the Consortium for Service Innovation for Knowledge-Centered Support
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Multiple awards including the KMWorld Trend-Setter award, HP OpenView Spirit award
and Software 500 award
"KNOVA's Service Resolution Management applications can significantly improve the
customer experience across multiple service channels in many industries," continued
Armstrong. "We feel that our top-rated technology and products, highly referenceable
customers, and strong management make an outstanding combination of assets with
which to address the SRM market opportunity. We expect our continued innovation
and execution to deliver strong shareholder value."
Income Statement
Balance Sheet
Conference Call Information:
KNOVA will present its third quarter 2005 earnings in a teleconference today at
5:00 p.m. Eastern (2:00 p.m. Pacific). Domestic callers can join the teleconference
by dialing 1.866.825.1709, providing the company name, "KNOVA" and the following
conference ID pass code: 37306285. International callers can access the broadcast
by dialing 1.617.213.8060, providing the company name and same pass code. The teleconference
also can be accessed online by clicking on the Investor Relations area of KNOVA's
Web site, http://www.knova.com/ir. Participants are asked to call the assigned number
approximately 10 minutes before the conference call begins.
If you are unable to participate, an audio digital replay of the call will be available
beginning two hours after the call and will be available until 11:59 p.m. on November
21, 2005 by dialing 1.888.286.8010 (domestic) or 1.617.801.6888 (international)
using the pass code 59789735. KNOVA will also provide a replay of the conference
call on the Investor Relations page of its Web site.
About KNOVA Software
KNOVA Software is a leading provider of Service Resolution Management (SRM) applications
that reduce service costs, increase revenues and improve customer satisfaction.
Built on a next-generation search and knowledge management platform, KNOVA's suite
of knowledge-empowered customer service applications automate the resolution process
across multiple channels including contact centers, help desks, email and self-service
sites. Industry leaders including Mattel, Microsoft, AOL, H&R Block, Novell, Merrill
Lynch, McAfee, Reuters and Cingular rely on KNOVA's award-winning solutions to deliver
world-class customer service. KNOVA Software is headquartered in Cupertino, Calif.
For more information, visit www.knova.com.
KNOVA Software, KNOVA, KNOVA Contact Center, KNOVA Self-Service,
KNOVA Forums, KNOVA Field Service, KNOVA Knowledge Desk, KNOVA 6 and KNOVA 6.5 are
trademarks of KNOVA Software, Inc. All other trademarks are properties of their
respective owners. Under the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, statements in this press release that are not historical facts,
including those statements that refer to KNOVA Software's plans, prospects, expectations,
strategies, intentions, hopes and beliefs and the expected benefits of the use of
KNOVA's products are forward-looking statements. These forward-looking statements
are not historical facts and are only estimates or predictions. Actual results may
differ materially from those projected as a result of risks and uncertainties detailed
from time to time in the company's Securities and Exchange Commission filings. Any
forward-looking statements are based on information available to the company today
and the company undertakes no obligation to update publicly any forward-looking
statements, whether as a result of future events, new information, or otherwise.
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