Nuance Announces Fiscal 2012 And Fourth Quarter Results

Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its fiscal 2012 and fourth quarter, ended September 30, 2012.

Nuance reported GAAP revenue of $1,651.5 million in fiscal 2012, a 25.2% increase over GAAP revenue of $1,318.7 million in fiscal 2011. Nuance reported non-GAAP revenue of $1,738.1 million, which includes $86.6 million in revenue lost to accounting treatment in conjunction with acquisitions. Fiscal 2012 non-GAAP revenue grew 24.7% over non-GAAP revenue of $1,393.9 million in fiscal 2011.

In fiscal 2012, Nuance recognized GAAP net income of $207.1 million, or $0.65 per diluted share, compared with GAAP net income of $38.2 million, or $0.12 per diluted share, in fiscal 2011. In fiscal 2012, Nuance reported non-GAAP net income of $555.9 million, or $1.73 per diluted share, compared to non-GAAP net income of $430.7 million, or $1.36 per diluted share, in fiscal 2011. Nuance’s fiscal 2012 non-GAAP operating margin was 35.8%, up from 33.9% in fiscal 2011. Nuance reported cash flow from operations of $473.0 million in fiscal 2012, a 32.3% increase over $357.4 million in fiscal 2011. Nuance ended fiscal 2012 with a balance of cash and cash equivalents of $1,129.8 million.

Nuance reported GAAP revenue of $468.8 million in the fourth quarter of fiscal 2012, a 27.7% increase over GAAP revenue of $367.0 million in the fourth quarter of fiscal 2011. Nuance reported non-GAAP revenue of $490.1 million, which includes $21.3 million in revenue lost to accounting treatment in conjunction with acquisitions. Fourth quarter fiscal 2012 non-GAAP revenue grew 22.7% over non-GAAP revenue of $399.5 million in the same quarter last year.

In the fourth quarter of fiscal 2012, Nuance recognized GAAP net income of $117.6 million, or $0.36 per diluted share, compared with GAAP net loss of ($5.1) million, or ($0.02) per share, in the fourth quarter of fiscal 2011. In the fourth quarter of fiscal 2012, Nuance reported non-GAAP net income of $164.9 million, or $0.51 per diluted share, compared to non-GAAP net income of $133.5 million, or $0.42 per diluted share, in the fourth quarter of fiscal 2011. Nuance’s fourth quarter fiscal 2012 non-GAAP operating margin was 37.2%, up from 36.1% in the fourth quarter of fiscal 2011. Nuance reported cash flow from operations of $141.5 million in the fourth quarter of fiscal 2012, a 44.5% increase over $97.9 million in the fourth quarter of fiscal 2011.

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