SuccessFactors 1Q loss narrower than Street forecast; shares rise

SuccessFactors Inc. late Thursday reported a first-quarter adjusted loss of 34 cents a share, narrower than the mean 42-cent loss estimate of analysts polled by Thomson Reuters.

The net loss for the three months ended March 31 was $19.3 million, or 37 cents a share, compared with a net loss of $12.6 million, or $4.40 a share, during the year earlier.

There were 51.7 million shares outstanding in the latest quarter versus 2.87 million last year.

Revenue at the San Mateo, Calif.-based provider of on-demand performance and talent management software rose to $23.5 million from $12.4 million a year ago. Analysts were looking for revenue of $20.8 million.

SuccessFactors said it expects a second-quarter adjusted loss of 39 cents to 41 cents a share on revenue of $24 million to $25 million. The current consensus estimate is for a per-share loss of 42 cents on revenue of $23.5 million.

The company also raised its fiscal 2008 outlook, saying it now expects an adjusted loss of $1.55 to $1.59 a share on revenue of $104 million to $106 million. The company's previous forecast was for an adjusted loss of $1.63 to $1.67 a share on revenue of $101 million to $103 million. The Street estimate is for a per-share loss of $1.65 on revenue of $102.3 million.

Shares of SuccessFactors closed the regular session up 15 cents, or about 1.4%, at $11.15. The shares rose more than 5% in after-hours trading. Katherine Hunt kh

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