PC Docs Group International Inc, the Toronto-based provider of document management software, has reported third-quarter net income of C$636,000 ($436,000), or C$0.03 per share, on revenue up 35.3% at C$46.7m ($32m), compared to a net loss of C$82.5m ($56.6m) in the year-ago quarter. Results for the year-ago quarter include restructuring and other charges totaling C$92.8m ($63.6m). Nine-month net income was C$3.8m ($2.6m), or C$0.16 per share, on revenue up 43.8% at C$129.7m ($89m), against a net loss of C$81m ($55.6m) last year. Figures were converted at a rate of C$1.458 to the dollar. The company says that, while it’s pleased with the 35% revenue growth, it would have been significantly stronger had it not been impacted by the uncertainty associated with the unsolicited takeover bid from rival Open Text Corp. It also says a number of its cost management initiatives were delayed as a result of ongoing acquisition negotiations and coordination of its future plans with Hummingbird Communications Ltd. The two companies have agreed to a merger.
