Kofax Posts Higher FY Net Profit - Quick Facts

(RTTNews) - Kofax Ltd.'s (KFX, KFX.L) net income for the fiscal year ended June 30, 2014 increased to $11.38 million, or $0.12 per share, from last year's $10.0 million, or $0.11 per share. Adjusted earnings per share amounted to $0.26 for the recent year.

Total revenues for the year went up by 8.8% to $289.7 million on an IFRS basis, and increased 11.5% to $297.4 million on a non-IFRS basis. IFRS software license revenue grew by 5.0% to $117.8 million, and non-IFRS software license revenue increased by 10.2% to $123.9 million.

Separately, Kofax announced that on September 1, 2014 it acquired Softpro GmbH, a provider of signature verification, fraud prevention and electronic signature software and services.

Kofax purchased all of Softpro's stock for $34.7 million cash. Of this, $31.2 million was paid as part of the closing of the transaction on September 1, 2014. An additional $1.1 million would be paid 90 days after closing, $1.2 million would be paid one year from closing and $1.2 million would be paid two years from closing, with said amounts being subject to certain indemnification terms and conditions. The firm may complete the integration of Softpro by the end of calendar year 2014.