Seeking Alpha

Nuance offers soft revenue guidance, but ups bookings guidance

  • Nuance (NUAN) guides in its prepared remarks (.pdf) for FY14 (end in September) revenue of $2B-$2.04B, below a $2.06B consensus. Due to planned cost cuts, the company is upping its FY14 EPS guidance by $0.02 to $1.09-$1.19 (consensus is at $1.12). FQ3 EPS is expected to be in a range of $0.24-$0.29, below a $0.30 consensus.
  • Bookings rose 43% Y/Y in FQ2 (up from 26% growth in FQ1) to $638M. As a result, Nuance has hiked its FY14 bookings forecast by $100M to $2.25B-$2.35B. Deferred revenue, boosted by the ongoing shift to cloud/recurring revenue streams, rose 4% Q/Q and 30% Y/Y to $504.9M.
  • Gross margin fell 40 bps Q/Q and 280 bps Y/Y to 61.6%. Opex rose 7% Y/Y to $264.6M.
  • NUAN now -1.2% AH. FQ2 results, PR.
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