SuccessFactors, a maker of business software, reported today that it expects to break even in the second quarter.
The company said to expect Q2 revenues of $69-$70 million, higher than analysts’ average estimates of $65.6 million.
But first-quarter net income was $2.7 million, or 3 cents a share, compared with a loss of $3.7 million, or 5 cents a share, a year ago. Revenue rose 52 percent to $67.6 million.
In addition to reporting financial results, SuccessFactors announced the acquisition of Plateau, a learning management system, for $145 million in cash and $145 million in stock. The deal is expected to close in summer 2011.
“I first met Paul Sparta, CEO of Plateau, 8 years ago, and what struck me, and has stayed with me, more so than any founder or CEO whom I have met in our industry, was how seriously and incredibly committed he was to two key drivers: 1) his customers’ success through superior product and domain expertise; and 2) building a financially strong and profitable business,” said Lars Dalgaard, founder and CEO of SuccessFactors. “With more than 15 million combined users, and the biggest R&D budget and largest domain expertise, in the HCM cloud-based SaaS industry, we can compete more effectively with some of the incumbent HCM vendors’ total suite, and continue to surprise and excite customers with the next decade of innovations.”
SuccessFactors said the acquisition forms “a symbiotic combination” with SuccessFactors’ acquisition of social video mobile learning provider Jambok, which was announced in March.