Nuance Announces Third Quarter Fiscal 2013 Results

Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its third quarter fiscal 2013, ended June 30, 2013.

Nuance reported GAAP revenue of $469.8 million in the third quarter fiscal 2013, an 8.8% increase over GAAP revenue of $431.7 million in the third quarter of fiscal 2012. Nuance reported non-GAAP revenue of $490.8 million, which includes $21.0 million in revenue lost to accounting treatment in conjunction with acquisitions. Third quarter fiscal 2013 non-GAAP revenue grew 9.5% over non-GAAP revenue of $448.2 million in the third quarter of fiscal 2012.

In the third quarter of fiscal 2013, Nuance recognized GAAP net loss of ($35.0) million, or ($0.11) per share, compared with GAAP net income of $79.3 million, or $0.25 per diluted share, in the third quarter of fiscal 2012. In the third quarter of fiscal 2013, Nuance reported non-GAAP net income of $109.5 million, or $0.34 per diluted share, compared to non-GAAP net income of $143.7 million, or $0.45 per diluted share, in the third quarter of fiscal 2012. Nuance’s third quarter fiscal 2013 non-GAAP operating margin was 28.1%, down from 36.1% in the third quarter of fiscal 2012. Nuance reported cash flow from operations of $85.5 million in the third quarter of fiscal 2013, down from $141.5 million in the third quarter of fiscal 2012. Nuance ended the third quarter of fiscal 2013 with a balance of cash and cash equivalents of $873.1 million.

Please refer to the “Discussion of Non-GAAP Financial Measures” and to the “GAAP to Non-GAAP Reconciliations,” included elsewhere in this release, for more information regarding the company’s use of non-GAAP measures.

“Nuance’s revenue improved in the third quarter, and strong third quarter design wins and bookings in our recurring revenue streams position us well for improved performance in fiscal 2014,” said Paul Ricci, Nuance Chairman and CEO. “We continued to deliver innovative solutions and drive market penetration in strategic markets such as connected cars, voice-enabled televisions, healthcare revenue cycle management, mobile customer care and voice biometrics.”

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