Updated from 4:59 p.m. ET to include latest share prices, additional information on Expedia, Activision Blizzard, Exide Technologies, and Leapfrog Enterprises. NEW YORK ( TheStreet) -- Shares of Nuance Communications ( NUAN) fell in late trades on Thursday after the maker of voice and language technology products missed Wall Street expectations for its fiscal first-quarter results on both the top and bottom lines. The Burlington, Mass.-based company reported non-GAAP earnings of $$108.5 million, or 34 cents a share, for the three months ended Dec. 31 on revenue of $360.6 million, below the average estimate of analysts polled by Thomson Reuters for a profit of 36 cents a share in the quarter on revenue of $391.6 million. Nuance hinted at the cause of the shortfall, saying that its relationships with mobile companies have become "more comprehensive and complex" lately, resulting in delayed revenue at times because of longer negotiation cycles and deferrals of recognition until certain deliverables are completed. The stock was last quoted at $26.37, down 13.4%, on volume of more than 2 million, according to Nasdaq.com. Based on Thursday's regular-session close at $30.45, the shares are up more than 53% in the past year. Thursday's intraday high of $31.15 was a new 52-week peak. In prepared remarks published on its Web site ahead of a conference call to discuss the results, Nuance said its deferred revenue swelled to $299.4 million at the end of the quarter vs. $241 million a year earlier. The company also forecast non-GAAP earnings of 36 to 40 cents a share for its fiscal second quarter ending in March on revenue of between $395 million and $415 million. The current average analysts' estimate is for a profit of 38 cents a share in the quarter on revenue of $404.5 million. For the full year ending in September, Nuance sees non-GAAP earnings of $1.55 to $1.62 a share on revenue ranging from $1.66 billion to $1.71 billion. Wall Street expects earnings of $1.60 a share on revenue of $1.68 billion. The sell side was very bullish ahead of the news with 17 of the 19 analysts covering Nuance at strong buy (10) or buy (7), although the median 12-month price target of $30 suggests the valuation was stretched. Nuance had beaten the consensus view in three straight quarters, and seven of the last eight quarters ahead of this report. Some of the enthusiasm about Nuance stems from the company's relationship with Apple ( AAPL) as Nuance technology is part of the Siri talking feature of the iPhone 4S. Check out TheStreet's quote page for Nuance Communications for year-to-date share performance, analyst ratings, earnings estimates and much more.