Nuance Posts 1Q Loss
Tuesday May 8, 5:57 pm ET
Nuance Reports 1st-Quarter Loss, Weighed by Charges, Higher Costs
BURLINGTON, Mass. (AP) -- Speech and imaging technology company Nuance Communications Inc. posted a wider fiscal second-quarter net loss Tuesday, as acquisition costs, amortization of intangible assets and other expenses weighed down results.
For the quarter ended March 31, the company reported a net loss of $1.7 million, or a penny per share, compared with a loss of $1.4 million, also a penny per share, in the same period a year ago.
Excluding non-cash taxes and interest, amortization of intangible assets, acquisition costs and other expenses, the company earned $23.4 million, or 12 cents per share, in the most recent quarter.
Revenue jumped 84 percent to $132.1 million from $71.7 million.
Analysts, on average, were expecting earnings of 11 cents per share on sales of $133.8 million, according to a poll by Thomson Financial. The charges, along with stock options costs, are excluded from analyst estimates.
"The company experienced solid growth in each of its business lines and, in particular, enjoyed robust growth in health care and embedded speech," said Paul Ricci, chairman and chief executive, in a statement.
Shares climbed 10 cents to $15.25 in after-hours electronic trading, having earlier closed down 14 cents at $15.15 in the regular trading session. |
