Kofax Revenue Up On Strength of Sales In Asia, Americas

IT solution provider Kofax saw total revenue for its most recent quarter grow 3.7 percent to $70.0 million, while half-year revenue grew 5.2 percent to $128.52 million from the prior year's $122.22 million.

Kofax's total revenue growth was driven by continuing growth in maintenance and professional services. However, solid growth in the Americas and Asia Pacific was offset by poor performance in EMEA.

Subsequently, first-half profits at Kofax tumbled 40.6 percent to $6.5 million from July to December 2011. Profit for the most recent quarter alone decreased 31.2 percent to $3.8 million.

"While our pipeline of opportunities have continued to grow, and management and the board remain confident in our business, we do not expect economic conditions in EMEA to improve in the near future," said the solution provider's CEO, Reynolds C. Bish. "As a result, for fiscal year 2012, we continue to expect low single-digit total revenue growth in U.S. dollars on a constant currency basis, high single-digit total revenue growth on an as reported basis -- including acquisitions to date and assuming current exchange rates -- and an Adjusted EBITA of at least the $40.2 million reported in fiscal year 2011."

The results were also impacted by the company's acquisition of Singularity, a provider of BPM software and Dynamic Case Management solutions, late last year.

Kofax is looking to expand its services, and the purchase of Singularity was meant to augment the solution provider's ability to help customers automate certain business processes, such as content capturing, as well as to increase its value proposition by lowering total cost of ownership and faster return on investment.

Bish said the acquisition will make Kofax the first company to offer a capture-enabled BPM platform.