Nuance FQ3 Revs Miss; Guides FQ4 Below Expectations
Nuance Communications, Inc. (NASDAQ: NUAN) said weak performance from acquisitions and its imaging business unit caused it to miss fiscal third-quarter revenue expectations.
The digital voice technology company's adjusted earnings for the recent period met expectations as a result of cost cuts and control, but offered a disappointing fiscal fourth-quarter outlook.
Nuance shares tumbled on the news, trading after hours recently off nearly 9 percent at $16.50 a piece.
The company forecast fourth-quarter adjusted income of between $0.24 and $0.29 cents a share, on adjusted revenue of $500 million to $520 million. Wall Street expected $0.34 cents a share on revenue of $540.5 million.
Net loss for the recent period widened to $54.2 million, or 17 cents a share, from $35 million, or $0.11 cents a share, in the year-earlier period. Revenue grew 1.2 percent to $475.5 from $469.8 million.
Adjusted income excluding items was $0.27 cents a share. Analysts expected $0.27 cents on revenue of $498.6 million.
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