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Kofax on track for 10% revenue growth

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Date: Tuesday 13 May 2008

LONDON (ShareCast) - Kofax, the scanning software specialist formerly known as Dicom, said trading in the first quarter of 2008 was in line with management expectations.

The company’s chief executive, Reynolds Bish, said good progress is being made in the restructuring of the company and Kofax remains on target to hit its 2008 target of 10% revenue growth at constant exchange rates.

Bish said that a better than expected performance from the software services division has offset lower growth in software licences.

“Despite an uncertain economic outlook we believe Kofax is well positioned and remain confident in its growth prospects, and we continue to target double digit revenue growth in our software business in future years,” Bish said.

Kofax changed its name from Dicom in February 2008 and rebranded all of its products to use the Kofax name in order to eliminate confusion between the disparate brands purchased during the company’s acquisition spree.

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