Nuance Q2 Results Top Estimates

(RTTNews) - Nuance Communications, Inc. (NUAN) reported a net loss for the second quarter of $14.1 million or $0.04 per share, compared to a net loss of $39.2 million or $0.12 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $98.9 million or $0.30 per share, compare to $88.3 million or $0.28 per share in the prior year quarter.

Revenue for the second quarter declined to $475.1 million from $475.7 million year ago, while adjusted revenue fell to $488.1 million from $490.0 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.24 per share on revenue of $481.00 million for the second quarter. Analysts' estimates typically exclude special items.

Nuance also said that its board of directors has authorized an additional $500 million under the stock buyback plan, bringing the unused authorization to a total of $591.7 million.

Looking forward to the third quarter, the company forecasts revenues of $457 million to $471 million, adjusted revenue of $468 million to $482 million, a loss of of $0.15 to $0.11 per share and adjusted earnings of $0.25 to $0.29 per share. Analysts currently expect the company to earn $0.28 per share on revenue of $48774 million for the third quarter.

For the fiscal year 2015, the company now forecasts revenues of $1.89 billion to $1.93 billion, adjusted revenue of $1.94 billion to $1.98 billion, a loss of $0.40 to $0.30 per share and adjusted earnings of $1.13 to $1.23 per share. Analysts currently expect the company to earn $1.12 per share on revenue of $1.98 billion for the fiscal year 2015.