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Technology Stocks : Nuance Communications, Inc.
NUAN 54.840.0%Aug 11 5:00 PM EST

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To: Jorgen Jensen who started this subject5/26/2004 11:01:42 AM
From: Jorgen Jensen   of 834
 
Here are the notes from CSFB:

5-11-04

SSFT: Reiterate Outperform - ScanSoft reported first quarter results on May 10, 2004, including earnings per share of $0.02, versus $0.04 in the first quarter of 2003 and the consensus estimate of $0.01. Revenues grew 54% year over year to $42.8 million based on strength in all segments.

- We are raising our EPS estimate for full year 2004 to $0.21, from $0.20, based on 42% revenue growth (was 40%) to $193 million as a result of stronger than anticipated demand for both speech and productivity products. We note that management raised the low end of its guidance range. EPS guidance for full-year 2004 now calls for $0.21-0.24 (was $0.20-0.24), based on revenues of $185-200 million (was $180-200).

- Management highlighted a number of large network speech projects and noted stronger than expected network speech bookings. With product upgrades coming throughout the year in speech and new product introductions in productivity, our forecast for strong growth in 2004 and beyond is intact. Strength in all business segments bodes well for potential upside to our estimates throughout the year.

t.
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