Kofax profit rises on boost from professional services

Sept 3 Mon Sep 3, 2012 2:59am EDT

Sept 3 (Reuters) - Software company Kofax Plc reported a higher full-year profit on strong growth in professional services and forecast mid to high single-digit revenue growth for fiscal 2013.

The company, which specialises in software used in scanning and for automating business operations such as processing invoices, also said it expects adjusted EBITDA margin to hold steady in 2013.

Profit from continuing business for the year to June 30 rose to $27.4 million from $26 million a year earlier.

Total revenue climbed 7.6 percent to $262.5 million. The professional services segment, which accounts for 12 percent of Kofax's overall revenue, grew 23.2 percent to $31.4 million for the year to June 30.

Professional services revenue primarily consists of application development and training services.

Last year, Kofax had lowered its full-year expectations to a low single-digit revenue growth for 2012 and cut jobs.

Shares of Irvine, California-based Kofax closed at 276 pence on the London Stock Exchange on Friday.

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