Record Cash Flow, Strong New Bookings for Nuance’s Second Quarter

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Nuance Communications today announced financial results for its second quarter that ended on March 31, 2016, stating it delivered strong new bookings and non-GAAP earnings per share, as well as record cash flow from operations

For its second quarter, Nuance reported GAAP (Generally Accepted Accounting Principles) revenue of $478.7 million, compared to $475.1 million versus second-quarter 2015. Nuance reported non-GAAP revenue of $487.4 million, which includes $8.7 million of revenue lost to accounting treatment in conjunction with acquisitions, and compared to non-GAAP revenue of $488.1 million for second-quarter 2015.

In the second quarter of 2016, total non-GAAP recurring revenue was $345.8 million and represented 71 percent of total non-GAAP revenue, compared to $315.6 million and 65 percent a year ago. In the second quarter, Nuance reported new bookings amounting to $313.7 million, up 3 percent from $304.7 million a year ago.

Nuance also reported a GAAP net loss of $7.0 million, or $0.02 per share, compared to a GAAP net loss of $14.1 million, or $0.04 per share, for second-quarter 2015.

Non-GAAP net income was $115.0 million, or $0.38 per diluted share, up from non-GAAP net income of $98.9 million, or $0.30 per diluted share, for second-quarter 2015.

Nuance’s second-quarter non-GAAP operating margin was 28.4 percent, up from 25.9 percent in second-quarter 2015.

The firm reported record cash flow from operations of $159.9 million for its second quarter, up 33 percent from $119.9 million for second-quarter 2015.

“In the second quarter, Nuance delivered strong bookings, non-GAAP EPS, and cash flow from operations,” commented Nuance CFO Dan Tempesta in a prepared statement. “Overall, we are pleased with the company’s performance through the first half of fiscal 2016. Our first half results are further evidence of continued improvement across all major financial metrics as we evolve toward recurring revenue models, execute our transformation program, and position the company for increased revenue growth.”

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