Why Kofax (KFX) Stock Plunged Today

NEW YORK (TheStreet) -- Shares of Kofax Ltd (KFX) dropped -9.90% to $7.28 after it said late Thursday that fiscal 2014 earnings will be below expectations due to the delay in license revenue transactions.

Reynolds C. Bish, CEO oF the business software provider, said,"Unexpected shortfalls are primarily attributable to several seven figure software license revenue transactions totaling approximately $6 million slipping into future quarters during the last few days of our fourth quarter."

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