Technology stocks were holding slight gains, with shares of
technology companies in the S&P 500 climbing about 0.2%.
In company news, American depository shares of Kofax Ltd (
) slid back near its all-time low Friday after the British
enterprise software firm said it expects revenue for its fiscal
year ended June 30 will trail its financial guidance despite
topping year-ago levels.
Total revenue is seen coming in a range of $295 million to $298
million, up a maximum 11.9% over the $266.3 million in revenue
reported during the same 12-month period last year. Software
license revenue is projected in a range of $116.5 million to $118.5
million, up as much as 5.6% over FY13 levels.
No analyst estimates are available for comparison. The company
April 29 reaffirmed its guidance calling for at least 12.5% revenue
growth during FY14, with software license revenue rising in the low
In prepared remarks, CEO Reynolds Bish said he was disappointed
with the revenue shortfalls, blaming them on around $6 million in
software license deals held up past the end of FY14. "We believe we
will close these transactions during the first and second quarters
of fiscal year 2015," he said.
KFX shares were down 10.9% in mid-day trade at $7.20 each,
earlier falling to within 13 cents of its May 12 record low of
$6.41 a share. London-traded shares (KFX.L) closed with a 7.4%
decline on Friday.
In other sector news,
(+) ICLD, (+16.3%) Reports an influx of new purchase orders for
its WiFi, distributed antenna systems and other next-generation
mobile network solutions, including more than $3.1 mln in orders
from existing clients.
(-) EOPN, (-5.0%) Projected Q2 adjusted net loss is at least
$0.06 wider than analyst estimates while revenue lags Street view
by at least $420,000. FY15 EPS forecast misses consensus. Q1
adjusted loss of $0.14 beats by $0.01 per share. Revenue was
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