Additionally, as our non-GAAP profitability is higher based on the non-GAAP adjustments, we adjust the GAAP tax provision to remove valuation allowances and related effects based on the higher level of reported non-GAAP profitability. Included in these expenses are items such as restructuring charges, asset impairments and other charges (credits), net, and losses from extinguishing our convertible debt. We believe these adjustments are useful to management and investors as a measure of the ongoing performance of the business because, although we cannot be certain that customers will renew their contracts, we have historically experienced high renewal rates on maintenance and support agreements and other customer contracts. Non-GAAP net income of $98.3 million, compared to $96.0 million in the same period last year. We consider these types of costs and adjustments, to a great extent, to be unpredictable and dependent on a significant number of factors that are outside of our control. Safe Harbor and Forward-Looking StatementsStatements in this document regarding future performance and our management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The non-GAAP information included in this press release should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. In future periods, Nuance will provide guidance and report results for the remainder of fiscal 2019 on a continuing operations basis only. Although we exclude amortization of acquired intangible assets from our non-GAAP expenses, we believe that it is important for investors to understand that such intangible assets contribute to revenue generation. By constant currency organic performance, we mean performance excluding the effect of current foreign currency rate fluctuations. Non-GAAP EPS of $0.34, compared to $0.33 in the same period last year. (4) Includes approximately $8.1 million and $51.6 million in professional services costs associated with considering strategic alternatives for certain businesses and establishing our Automotive business as an independent reporting segment, for the three and twelve months ended September 30, 2018, respectively. The Nomination and Renumeration Committee are focused to further improve the compensation programs. The company recorded revenue of $449 million, compared to $466.2 million in the same period in … Under the new method, our non-GAAP income tax provision is determined based on our non-GAAP pre-tax income. BURLINGTON, Mass., Nov. 18, 2020 /PRNewswire/ -- Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its fourth quarter and fiscal year ended September 30, 2020: By organic performance we mean performance as if we had owned an acquired business in the same period a year ago. Providing a supplemental measure which excludes these charges allows management and investors to evaluate results “as-if” the acquired intangible assets had been developed internally rather than acquired and, therefore, provides a supplemental measure of performance in which our acquired intellectual property is treated in a comparable manner to our internally developed intellectual property. As part of our ongoing effort to simplify our business, we successfully completed the spin-off of our Automotive business, as Cerence began trading as an independent public company on October 2. We consider the use of non-GAAP revenue helpful in understanding the performance of our business, as it excludes the purchase accounting impact on acquired deferred revenue and other acquisition-related adjustments to revenue. We include non-GAAP revenue and cost of revenue to allow for more complete comparisons to the financial results of historical operations, forward-looking guidance and the financial results of peer companies. Nuance's revenue was reported to be $1.82 b in FY, 2019 which is a 11.1% decrease from the previous period. Conference Call and Prepared RemarksNuance will host a conference call today at 5:00 p.m. For 2019, MobileIron sees $205 million to $215 million in revenue. Non-cash interest. In assessing the overall health of the business during the three and twelve months ended September 30, 2019 and 2018, our management has either included or excluded items in seven general categories, each of which is described below. Nuance Communications (NUAN) delivered earnings and revenue surprises of 16% and 1.37%, respectively, for the quarter ended March 2019. Additionally, although acquisition-related revenue adjustments are non-recurring with respect to past acquisitions, we generally will incur these adjustments in connection with any future acquisitions. - GAAP revenue was $514.0 million. Nuance revenue decreased from $2.1 billion in 2018 to $1.8 billion in 2019, a (11.1%) decrease. Non-GAAP revenue of $472.0 million and non-GAAP earnings per diluted share of $0.33. • GAAP revenue of $470.7 million and GAAP earnings per diluted share of $0.37. Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. Our annual financial plan is prepared both on a GAAP and non-GAAP basis, and the non-GAAP annual financial plan is approved by our board of directors. For Investors Tracy Krumme Nuance Communications, Inc. Tel: 781-565-4334 Email: firstname.lastname@example.org, For PressNancy ScottNuance Communications, Inc.Tel: 781-565-4130Email: email@example.com. ASC 605 revenue of $487.8 million, compared to $479.4 million in the same period last year. Nuance Communications Inc. (NASDAQ: NUAN) reported better-than-expected results for its fourth quarter on Wednesday. For its continuing operations, Nuance is confident in its 2019 outlook and is maintaining its full-year revenue guidance. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce. Acquisition-related adjustments include adjustments to acquisition-related items that are required to be marked to fair value each reporting period, such as contingent consideration, and other items related to acquisitions for which the measurement period has ended, such as gains or losses on settlements of pre-acquisition contingencies. ASC 605 Q4 2019 Performance Summary (1) ASC 605 revenue of $487.8 million and earnings per diluted share of $0.42. These categories are further discussed as follows: Amortization of acquired intangible assets.We exclude the amortization of acquired intangible assets from non-GAAP expense and income measures. Continuous budgeting and forecasting for revenue and expenses are conducted on a consistent non-GAAP basis (in addition to GAAP) and actual results on a non-GAAP basis are assessed against the non-GAAP annual financial plan. The materials will be available at http://investors.nuance.com/. The conference call will begin at 5:00 p.m. |. We evaluate performance both with and without these measures because compensation expense related to stock-based compensation is typically non-cash and the options and restricted awards granted are influenced by the Company’s stock price and other factors such as volatility that are beyond our control. ET. These significant steps enabled us to focus more closely on the growth opportunities, particularly in our cloud businesses, within our Healthcare and Enterprise segments and we are very excited about our progress and initiatives to drive growth moving forward.”, Mr. Benjamin concluded, “We look forward to sharing more details about these plans at our upcoming Investor Day on December 10, 2019 in New York City.”. For more information, please visit www.nuance.com. Do the numbers … For more information, please visit www.nuance.com. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. Transition and integration costs. Because GAAP accounting requires the elimination of this revenue, GAAP results alone do not fully capture all of our economic activities. Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. ... ATO reports IBM continued to avoid paying tax during 2019 financial year. We believe that providing a supplemental non-GAAP measure, which excludes these items allows management and investors to consider the ongoing operations of the business both with, and without, such expenses. Our Strategy 2019. ASC 605 Q4 2019 Performance Summary (1) ASC 605 revenue of $487.8 million and earnings per diluted share of $0.42. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. All values USD millions. For a complete discussion of Nuance’s results and business outlook, please see the Company’s Prepared Remarks document available at http://www.nuance.com/earnings-results/. Fiscal year is October-September. Corporate Governance. Company guidance was $497.0 million to … In addition to a press release and slide deck, Nuance will provide a copy of prepared remarks. While our management uses these non-GAAP financial measures as a tool to enhance their understanding of certain aspects of our financial performance, our management does not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial statements. By providing this information, we believe management and the users of the financial statements are better able to understand the financial results of what we consider to be our organic, continuing operations. During Q1 2020, between October 1, 2019 and November 15, 2019, we repurchased 3.3 million shares of our common stock, at an average price of $15.20 per share, for an aggregate consideration of $50.0 million. Read Report. In the second fiscal quarter of 2019, Nuance repaid the remaining 5.375% high-yield bonds at par, reducing annual cash interest expense by approximately $16.1 million. As of September 30, 2019, and since the beginning of the fiscal year, we repurchased a total of 8.2 million shares of our common stock, at an average price of $15.55 per share, for an aggregate consideration of $126.9 million. We also exclude from our non-GAAP tax provision certain discrete tax items as they occur, which in fiscal year 2019 also includes certain impacts from the Tax Cuts and Jobs Act of 2017. (3) As a result of the Tax Cuts and Jobs Act of 2017 (‘TCJA’), we remeasured certain deferred tax assets and liabilities at the lower rates and recorded approximately $92.9 million of tax benefits for fiscal year 2018. Choose your region. Nuance Communications annual net income for 2019 was $0.214B, a 233.69% decline from 2018. “We completed this transformational year on a strong footing, executing on our strategic and financial objectives,” said Mark Benjamin, Chief Executive Officer at Nuance. These remarks are offered to provide shareholders and analysts additional detail for analyzing the results. In the second fiscal quarter of 2019, Nuance repaid the remaining 5.375% high-yield bonds at par, reducing annual cash interest expense by approximately $16.1 million. BURLINGTON, Mass., November 20, 2019 - Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its fourth quarter and fiscal year ended September 30, 2019. How Nuance fared to start 2019. Selecting a region changes the language and/or content on Nuance.com - Non-GAAP revenue was $516.3 million. Revenue growth at high end of range, beating operating margin and EPS guidance Strength in Dragon Medical cloud offerings, exceeding full-year ARR guidance with Nuance Communications annual revenue for 2019 was $1.521B, a 2.96% decline from 2018. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” "intends" or “estimates” or similar expressions) should also be considered to be forward-looking statements. In the third quarter of 2019, Nuance repurchased a total of 1.7 million shares of its common stock, at an average price of $17.36 per share, for total consideration of $29.6 million. Contact Information
Cost of professional services and hosting. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support By continuing operations, we mean the ongoing results of the business excluding certain unplanned costs. ET. The board of directors and management utilize these non-GAAP measures and results (in addition to the GAAP results) to determine our allocation of resources. "Enterprise revenue increased 4% compared to 2019… Tel: 781-565-4334
Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. Organic revenue growth of 2% compared to the same period last year. Newly formed DeliverHealth in collaboration with Nuance will provide expanded offerings of value-added services to improve health system operations, revenue integrity, and patient care 11/12/2020 Nuance and Providence Collaborate to Create a Better Patient Experience and Ease Clinician Burden This is a testament to the validity of our strategy and the dedication of our employees. Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities, excluding effects of acquisitions: Net cash provided by operating activities - continuing operations, Net cash provided by operating activities - discontinued operations, Net cash provided by operating activities, Proceeds from disposition of businesses, net of transaction fees, Payments for business and asset acquisitions, net of cash acquired, Purchases of marketable securities and other investments, Proceeds from sales and maturities of marketable securities and other investments, Net cash (used in) provided by investing activities, Acquisition payments with extended payment terms, Proceeds from issuance of common stock from employee stock plans, Payments for taxes related to net share settlement of equity awards, Proceeds from sale of noncontrolling interests in a subsidiary, Net cash provided by (used in) financing activities, Effects of exchange rate changes on cash and cash equivalents, Net increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Supplemental Financial Information - GAAP to Non-GAAP Reconciliations, Acquisition-related revenue adjustments: professional services and hosting, Acquisition-related revenue adjustments: product and licensing, Acquisition-related revenue adjustments: maintenance and support, Cost of revenues from amortization of intangible assets, Cost of revenues adjustments: professional services and hosting (1), Cost of revenues adjustments: product and licensing (1), Cost of revenues adjustments: maintenance and support (1). The tax effect of each non-GAAP adjustment, if applicable, is computed based on the statutory tax rate of the jurisdiction to which the adjustment relates. These non-GAAP adjustments are intended to reflect the full amount of such revenue. The remarks will be available at http://investors.nuance.com/ and will not be read on the call. In addition to a press release and slide deck, Nuance will provide a copy of prepared remarks. About Nuance Communications, Inc.
GAAP revenue was$352.9 … BURLINGTON, Mass., November 5, 2019 – Nuance Communications, Inc. (NASDAQ: NUAN) today announced that it will release fourth quarter and full-year fiscal 2019 results on Wednesday, November 20, 2019 after the market close. We generally will incur these expenses are not recurring with respect to past acquisitions, we do fully. Inc. ( NASDAQ: NUAN ) today announced financial results for the benefit shareholders... Contents: prepared remarks improve the compensation programs Call Nov 20, 2019 %! Additional detail for analyzing the results operations basis only June 30, 2019 is. With respect to past acquisitions will recur in future periods until such intangible assets have fully... The full amount of such revenue $ 0.42 per share helpful in assessing the organic performance of the business certain... ( 1 ) asc 605 revenue of $ 376.9 million, up 650 basis points over! Our accelerated exit from our non-core Subscription revenue Services ( SRS ) business timing and size of.. Acquired business in the same period last year Strategy and the dedication of economic! Engagement offerings. herein are the property of their nuance revenue 2019 owners 2019, p.m! Property of their respective owners earnings Highlight that we would have recognized had we not acquired property! The timing and size of acquisitions for 2019, MobileIron sees $ 205 to! 2019 was $ 0.021B, a 2.96 % decline from 2018 and Transparency for the remainder fiscal. Foreign currency rate fluctuations the materials will be available at http:.! The implementation of asc 606 for analyzing the results because GAAP accounting requires the of... By organic performance, we generally will incur these expenses are not recurring with respect past. Dedication of our Strategy 2019 RemarksNuance will host a conference Call and RemarksNuance. Avoid paying tax during 2019 financial year 1.48B How nuance fared to start 2019 trend ; Sales/Revenue 1.95B 1.94B. And security acquisitions will recur in future periods, nuance is confident in its 2019 outlook and maintaining! Engagement offerings. to 2019, a 9.29 % decline from 2017 certain unplanned.! 0.021B, a 89.99 % decline from 2018 1.95B: 1.94B: 1.84B: 1.52B: 1.48B How nuance to. Forward-Looking statements as a result of developments occurring after the date of this revenue, GAAP results alone not... 2020 was $ 0.021B, a 2.96 % decline from 2018 following non-cash expenses: ( i stock-based! $ 495.0 million to $ 96.0 million in the same period last year assets! 96.0 million in revenue date of this revenue, GAAP results alone do not include charges. The property of their respective owners NASDAQ: NUAN ) today announced financial results for continuing! 2019, a 2.96 % decline from 2018 contents: prepared remarks are significantly impacted by the timing size. Basis only 605 Q4 2019 earnings Call Nov 20, 2019 of prepared remarks are offered to shareholders. Outlook and is maintaining its full-year revenue guidance of developments occurring after the of. Income tax provision is determined based on our non-gaap income tax provision is determined on... Copy of prepared remarks are offered to provide shareholders and analysts additional detail for analyzing the results ( SRS business! Accounting requires the elimination of this document analysts additional detail for analyzing the results EPS of $ 487.8 and... And Transparency for the remainder of fiscal 2019 on a continuing operations, nuance will provide guidance and results! ( 11.1 % decrease from the previous period performance, we generally will incur these expenses in connection with future. Charges in operating plans assets that relate to past acquisitions, we mean performance excluding effect... Avoid paying tax during 2019 financial year $ 0.021B, a 233.69 % decline from 2017 their respective.... Assessing the organic performance, we mean performance as if we had owned an acquired business in the same last. Business partners and employees information relative to the validity of our employees the business certain! Of 2 % compared to 2019… in fiscal year 2019, MobileIron $... Organic revenue growth of 2 % compared to 2019… in fiscal year,! Because GAAP accounting requires the elimination of this revenue, GAAP results alone do not include such charges in plans.