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Kofax releases Q1 statement

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Kofax has released a statement regarding its fiscal first-quarter  (ended Sept. 30) numbers that sounds fairly positive to us. Apparently the distribution business continues to struggle but the software numbers seem acceptable. Here’s CEO Reynolds Bish’s statement:

“I’m pleased to report that we made good progress and performed better than expected in our software business this past quarter. Market conditions have stabilized and show early signs of improving to a limited extent but continue to be challenging and difficult to predict. As a result and excluding the effect of the 170 Systems acquisition, which should contribute approximately $22m of revenues after acquisition accounting, we continue to expect low to mid single digit organic revenue growth in our software business this financial year.”

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