Kofax CEO Reynolds Bish said the numbers could have been better if not for worldwide currency exchange decline vs. the U.S. Dollar. In the press release he said, "Given the large amount of our software license revenue and total revenues arising in Euros, British Pounds, Swiss Francs and other currencies that have weakened against the U.S. dollar, this effect was substantial. On a constant currency basis - using exchange rate levels in the prior year period - software license revenue would have been approximately $1.1 million and total revenues $2.7 million higher."
In the press release, Bish noted that sales of "new of acquired products" showed strong growth and that core capture software sales also improved - as we noted previously, Kofax reported a number of significant capture software deals in November and December. Bish noted that the number of six-figure software deals, an area of focus for the company, also continued to increase.
Full results are due out Jan. 29.