Thursday, April 29, 2010

Kofax releases Interim results

From the press announcement: 

Reynolds C. Bish, Chief Executive Officer, commented: “I’m pleased to report that we made good progress and performed better than expected in our software business this past quarter. Our execution and market conditions in this business continue to slowly improve and, as a result, for the financial year ending June 30, 2010 we now cautiously expect high single digit growth in revenues on an organic and constant currencies basis with substantially greater growth on an as reported basis due to the 170 Systems acquisition. We continue to expect a low single digit decline in our hardware business revenues for the year.”

Sounds like the Bish plan, after some fairly complex restructurings, is starting to move forward. Of course, the goal of his plan has always been to increase shareholder value and Kofax's stock is currently trading at its highest level since he was brought in late 2007.

1 comment:

Craig Cartwright said...

Good to know, we are using Kofax's software and scanners and all seems to be going well so far. Pearl Scan and Document Management