Tuesday, January 13, 2015

TIS Meets 4th Quarter Expectations

A day after Kofax reported a rebound for its fiscal '15 Q2, capture competitor Top Image Systems (TIS) has reported that it met its guidance for the fourth quarter - at least in terms of local currencies. Like Kofax, TIS does quite a bit of business outside the U.S. but reports its financials in U.S. Dollars, as its stock is traded on the Nasdaq. According to the TIS press release, "The Company anticipates the significant devaluation of the Euro, as well as of the British Pound and leading Asia Pacific and Latin American currencies, to impact its reporting in U.S. dollars."

For those of you keeping score, when TIS announced its Q3 results, which were impacted by its recent acquisition of eGistics, it projected its Q4 "revenues will range between $10.5 million and $11.5 million and expenses will range between $9.3 million to $9.7 million."

TIS also announced today that it expects to be profitable in all four quarters of 2015.

TIS plans to announce full, audited Q4 and year-end results in early March.

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