(By Anthony Miller – Tuesday 12th May 2009 8:15am). Also reflecting its ‘prelims’ management statements (see Kofax documents more restructuring and layoffs) – but in quite the opposite direction to Serco - document capture and management player, Kofax’s IMS (see here) found its business slipping away, with expected FY earnings downgraded to the lower end of market consensus. CFO Stefan Gaiser reported lengthening sales cycles in core Americas and EMEA markets along with poor hardware sales, which surely makes management’s prior expectations of double-digit revenue growth all but a no-hoper. Damn, it’s tough out there.
Tuesday, 12 May 2009
Gloomier news from Kofax
(By Anthony Miller – Tuesday 12th May 2009 8:15am). Also reflecting its ‘prelims’ management statements (see Kofax documents more restructuring and layoffs) – but in quite the opposite direction to Serco - document capture and management player, Kofax’s IMS (see here) found its business slipping away, with expected FY earnings downgraded to the lower end of market consensus. CFO Stefan Gaiser reported lengthening sales cycles in core Americas and EMEA markets along with poor hardware sales, which surely makes management’s prior expectations of double-digit revenue growth all but a no-hoper. Damn, it’s tough out there.
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