May 8, 2014, 4:05 PM
Feb. 10, 2014, 4:52 PM
- In its prepared remarks (.pdf), Nuance (NUAN) guides for FQ2 revenue of $476M-$490M and EPS of $0.21-$0.25, largely below a consensus of $497.8M and $0.25. However, FY14 (ends Sep. '14) guidance is for revenue of $2.03B-$2.19B and EPS of $1.07-$1.17, in-line with a consensus of $2.06B and $1.09.
- FQ1 bookings amounted to $637.3M, +26% Y/Y and eclipsing revenue of $490.1M. Though Nuance states one-time factors lifted bookings, it now has "additional confidence" in its FY14 bookings forecast of $2.15B-$2.25B (+12%-17% Y/Y).
- The company's deferred revenue balance (boosted by a shift to subscription revenue streams) totaled $484.3M at the end of FQ1, up 29% Y/Y.
- Healthcare sales (46% of revenue) rose 1% Y/Y in FQ1 after falling 2% in FQ4, but the division's op. margin fell to 35% from 41% a year ago. Mobile & Consumer remains weak: sales -16% vs. -24% in FQ4, with op. margin falling to 12% from 30% a year ago. Enterprise sales -8% vs. -2%, imaging -9% (unchanged).
- Nuance notes its mobile/consumer ops continue to be pressured by a shift to connected (cloud-based) solutions from pre-installed apps, a trend that lengthens revenue recognition times. Consumer PC weakness and higher spending to deploy "large, custom solutions for key customers" (Apple?) are also hurting the division's profits.
- R&D spend rose 17% Y/Y to $80.7M (contributed to margin pressure). Sales/marketing rose 2% to $118.9M.
- NUAN +0.3% AH. CC at 5PM ET. FQ1 results, PR.
Feb. 10, 2014, 4:02 PM
Feb. 10, 2014, 12:10 AM
Feb. 9, 2014, 5:35 PM
Feb. 6, 2014, 12:10 AM| Feb. 6, 2014, 12:10 AM | 4 Comments
Feb. 5, 2014, 5:35 PM| Feb. 5, 2014, 5:35 PM | 2 Comments
Jan. 21, 2014, 4:35 PM
- Nuance (NUAN) now expects to report FQ1 (Dec. quarter) revenue of $487M-$491M and EPS of $0.23-$0.24. That's above prior guidance of $477M-$487M and $0.18-$0.21, and a consensus of $482.5M and $0.20. (PR)
- Nuance also announces it has hired former Symantec sales EVP Bill Robbins to be its new sales chief.
- FQ1 results arrive on Feb. 10. Nuance's shares were battered after the company provided disappointing FQ1 and FY14 guidance in November.
Jan. 15, 2014, 1:53 PM
- Ahead of a JPMorgan conference presentation (webcast), Allscripts (MDRX +9.1%) has forecast it will see a 5%-8% revenue CAGR and an 18%-22% adjusted EBITDA CAGR in the 2014-2016 timeframe. (8-K)
- With the healthcare software provider currently expected to post just 4.3% 2014 revenue growth (following a 6.5% 2013 decline), investors are pleased with the numbers.
- Peer Quality Systems (QSII +2%) is also higher, as is electronic health record (EHR) software partner Nuance (NUAN +1.7%), whose healthcare ops have been pressured by a shift away from transcription sales. Quality recently fell after issuing a Dec. quarter warning.
- Allscripts' Q4 report arrives on Feb. 20.
Nov. 25, 2013, 5:00 PM
- For the second straight quarter (previous), Nuance (NUAN) has beat quarterly estimates and provided below-consensus guidance. In prepared remarks, the voice recognition software leader guides for FQ1 revenue of $477M-$487M and EPS of $0.18-$0.21, below a consensus of $494.7M and $0.33. Also, Nuance is guiding for FY14 (ends Sep. '14) revenue of $2.03B-$2.09B and EPS of $1.05-$1.15, largely below a consensus of $2.08B and $1.41.
- One bright spot: Nuance forecasts FY14 bookings of $2.15B-$2.25B, up from an FY13 level of $1.92B and implying a book-to-bill above 1 (FY13 book-to-bill was 0.98).
- Nuance once more says the transition to cloud/subscription-based sales from up-front licenses is hurting near-term revenue. The company also states ongoing weakness in healthcare transcription sales (previous), smartphone consolidation (gives Apple/Samsung more control), and the adoption of services-based mobile models (such as Siri) will hurt FY14 sales. Meanwhile, major mobile, cloud, and healthcare R&D investments will pressure EPS.
- On the other hand, Nuance expects growth in the enterprise, automotive, diagnostics, and managed print services markets, as well as for its DragonTV, Clintegrity (clinical documentation), and voicemail-to-text offerings.
- NUAN -4.9% AH. CC at 5PM ET. FQ4 results, PR.
Nov. 25, 2013, 4:26 PM
Nov. 25, 2013, 12:10 AM
Nov. 24, 2013, 5:35 PM
Aug. 7, 2013, 2:32 PM
- Nuance (NUAN -1.8%) is now down just slightly after providing soft FQ4 guidance (attributed to a sales shift towards recurring revenue) to go with an FQ3 beat.
- Though lowering its PT to $23 from $25, Oppenheimer thinks 10%+ shareholder Carl Icahn could soon push for a sale of the company.
- FBR (Market Perform) argues the voice recognition software/services leader is "well-positioned given good secular trends and a strong product cycle," but remains cautious on account of "execution issues and a painful transition to a subscription model."
- Nuance mentioned on its CC hosting-based sales now make up 32% of revenue (30% a year ago), and that the estimated 3-year value of its on-demand contracts is up 11% Y/Y. Also, professional services backlog grew 35% Y/Y in FQ3, and the number of "unique connected devices" relying on Nuance's cloud services doubled.
- CEO Paul Ricci admitted "transitions and execution issues" affected Nuance's guidance, and that the company recently replaced a senior manager in its European sales ops. Ricci also reiterated Nuance is willing to let mobile deals "be delayed for the sake of price discipline."
Aug. 6, 2013, 4:54 PM
- In prepared remarks, Nuance (NUAN) guides for FQ4 revenue of $470M-$500M and EPS of $0.24-$0.32, below a consensus of $519.8M and $0.38.
- The company blames its shift to recurring/subscription-based revenue streams, which leads to lower up-front sales. Mobile/consumer is singled out as an area where the shift "has the effect of elongating revenue."
- FQ3 healthcare sales +2% Y/Y (boosted by acquisitions), even with FQ2; division made up 55% of segment profit. Mobile/consumer sales slumped: revenue -19% vs. -2%. Enterprise improved: revenue +7% vs. -20% in FQ2. Imaging -4% vs. -10%.
- Healthcare transcription sales still weak, Clintegrity and Dragon Medical stronger. 1.8B cloud mobile/consumer transactions in FQ3, +80% Y/Y. Enterprise lifted by demand for Nina voice assistant apps.
- Deferred revenue balance (stems from subscriptions/recurring revenue) was $396.5M, +2% Q/Q and +32% Y/Y. Operating cash flow was $85.5M vs. $141.5M a year ago.
- $115M spent on buybacks.
- FQ3 results, PR
Aug. 6, 2013, 4:04 PM
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