diff --git a/configure.in b/configure.in
index 54be0a9995..716610b34b 100644
--- a/configure.in
+++ b/configure.in
@@ -527,21 +527,35 @@ then
 	LIBOFX_CFLAGS="-I${OFXPREFIX}/include"
     fi
 
-    # check libofx version
+    ### Check libofx version
+    # Obtain version string
     AC_MSG_CHECKING(for libofx version >= 0.7.0)
     if test x${OFXPREFIX} = x ; then
-	LIBOFX_VERSION=`ofxdump --version | cut -d" " -f2`
+	ofx_version_output=`ofxdump --version`
     else
-	LIBOFX_VERSION=`${OFXPREFIX}/bin/ofxdump --version | cut -d" " -f2`
+	ofx_version_output=`${OFXPREFIX}/bin/ofxdump --version`
     fi
-    if test `echo ${LIBOFX_VERSION} | cut -d. -f1` -ge 1 -o \
-	     `echo ${LIBOFX_VERSION} | cut -d. -f2` -ge 7; then
+    # Extract version number; output format changed from 0.6.x to 0.7.x
+    LIBOFX_VERSION=`echo ${ofx_version_output} | sed 's/\([[^0-9]]*\)\([[0-9]]*\.\)/\2/' `
+    LIBOFX_VERSION_MAJOR=`echo ${LIBOFX_VERSION} | cut -d. -f1`
+    LIBOFX_VERSION_MINOR=`echo ${LIBOFX_VERSION} | cut -d. -f2`
+    # Make sure the numbers are not empty
+    if test x${LIBOFX_VERSION_MAJOR} = x ; then
+	LIBOFX_VERSION_MAJOR=0
+    fi
+    if test x${LIBOFX_VERSION_MINOR} = x ; then
+	LIBOFX_VERSION_MINOR=0
+    fi
+    # Now check for >= 0.7.x or >= 1.x.x
+    if test "${LIBOFX_VERSION_MAJOR}" -ge 1 -o \
+	     "${LIBOFX_VERSION_MINOR}" -ge 7; then
 	# This is libofx >= 0.7.x
 	AC_MSG_RESULT([found ${LIBOFX_VERSION}])
     else
-	AC_MSG_ERROR([Libofx 0.7.0 or newer needed for ofx support])
+	AC_MSG_ERROR([found ${LIBOFX_VERSION}; Libofx 0.7.0 or newer needed for ofx support])
     fi
 
+    # Version number verified. Now check header files.
     AC_MSG_CHECKING(for libofx/libofx.h)
     AS_SCRUB_INCLUDE(LIBOFX_CFLAGS)
     save_CPPFLAGS="${CPPFLAGS}"