http://www.ere.net/2009/05/11/down-for-the-quarter-kenexa-meets-wall-street-expectations/ Recruiting News, Recruiting Events, Recruiting Community, Social Recruiting Mon, 23 Nov 2009 11:02:01 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.ere.net/2009/05/11/down-for-the-quarter-kenexa-meets-wall-street-expectations/comment-page-1/#comment-12217 Todd Raphael Tue, 12 May 2009 17:46:45 +0000 http://www.ere.net/?p=7942#comment-12217 I also noticed a note from Morningstar today about Kenexa. Morningstar adds: "Kenexa's core subscription service business line experienced the harshest head winds. In particular, the recruitment process outsourcing service experienced a 17% revenue decline as a material drop in the customer renewal rate played a major antagonistic role. Management was not specific as to how far the renewal rate has dropped, but it did express confidence that this rate can be brought back to around 90% once the economy starts to recover. We believe the firm can achieve this goal, but unemployment continues to rise and head winds will be substantial for Kenexa over the near term because of this factor." I also noticed a note from Morningstar today about Kenexa. Morningstar adds: “Kenexa’s core subscription service business line experienced the harshest head winds. In particular, the recruitment process outsourcing service experienced a 17% revenue decline as a material drop in the customer renewal rate played a major antagonistic role. Management was not specific as to how far the renewal rate has dropped, but it did express confidence that this rate can be brought back to around 90% once the economy starts to recover. We believe the firm can achieve this goal, but unemployment continues to rise and head winds will be substantial for Kenexa over the near term because of this factor.”

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