Kofax hits expectations but eyes 2013 warily

Data capture firm Kofax said it had met annual expectations after a strong fourth quarter.

The firm posted record revenues of $262.5m in the year to the end of June, up 7.6% on the previous year.

Profits came in at $27.4m, up from £26m the year before, with earnings per share steady at 21c.

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The company said it intended to maintain its policy of not paying dividends in favour of investing the money in growing the business.

Going forward Kofax highlighted the unpredictable global macroeconomic conditions and the recessionary environments that have emerged in many Western European countries.

"As a result, for fiscal year 2013 our guidance is for mid to high single digit total revenue growth on a constant currency basis and an adjusted EBITDA margin of at least that reported in fiscal year 2012," said Chief Executive Reynolds C. Bish.

"This is based on low to mid single digit revenue growth in our core capture business with significantly greater revenue growth rates in acquired businesses and from our new Kofax Mobile Capture product."