Nuance Says First Quarter Looks Strong; CEO Retiring

Yesterday, Nuance Communications reported that, based on preliminary financial data, it expects its first-quarter revenues to be between $500.0 million and $503.0 million, and first-quarter earnings per share to be between $0.15 and $0.18.

The firm also expects that net new bookings in the quarter will “be strong, up approximately 10% year-over-year and owed to continued growth in Automotive, Enterprise, and Dragon Medical.” Cash flow from operations is expected to be approximately $85.0 million.

Nuance will report its official first-quarter results on February 8, 2018.

Executive and Organization Changes

Imaging Division Leadership, Al Monserrat Named EVP and GM

Al Monserrat, a technology veteran and former CEO of RES Software, has joined Nuance as an executive vice president and the general manager of Nuance’s Imaging business. Monserrat has more than 25 years of technology and software experience. Prior to serving as the CEO of RES, a leader in automated and secure digital workspaces that was recently acquired by Ivanti, Monserrat held numerous leadership roles at Citrix, including senior vice president of Global Sales and Services, vice president of Global Channels, Sales Operations, and Emerging Products; and vice president and general manager of Citrix’s North American business.

Mobile Division Reorganization and Leadership Update

Nuance also announced that it’s reorganizing its Mobile division to improve efficiency and better serve customers. Nuance’s Mobile Communications Service Provider (CSP) business will be merged into the Enterprise division, reporting to Robert Weideman, EVP and GM, and will focus on Nuance’s business in the telecommunications market. As previously announced, Nuance is moving forward with establishing its Automotive business as a separate segment and business line. In addition, Bob Schassler, executive vice president and general manager of the Mobile division, has resigned from the company.

CEO Succession Planning

The Nuance Board of Directors confirmed that Paul Ricci will retire as CEO on or before March 31, 2018. Nuance’s search committee intends to appoint a new CEO on or before that date. In light of Ricci’s expected retirement as CEO, the board will not nominate him for election as a director at the 2018 annual meeting of shareholders.

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