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   Technology StocksNuance Communications, Inc.


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From: Savant6/12/2018 10:09:33 AM
   of 832
 
Independent Research Firm Names Nuance "Killer Solution" and a "Strong Performer" in New Conversational Computing Report

Evaluated Alongside Tech's Biggest Names, Nuance Receives Differentiated Rating in Key Criteria

BURLINGTON, Mass., June 12, 2018 (GLOBE NEWSWIRE) -- Nuance Communications, Inc. (NASDAQ:NUAN), a leader in conversational AI innovations, today announced that Forrester Research has identified the company as one of the top emerging voice and chat companies in the "The New Wave(TM): Conversational Computing Platforms, Q2 2018" report.

The report identifies the most significant providers in the industry, evaluating Nuance along with technology powerhouses Amazon, Google, Microsoft and IBM on current offering, strategy and market presence. Nuance was recognized for enabling human-machine conversations, earning a differentiated rating in the criteria of breadth of services, UX support, geography and languages, and analytics.

While the Conversational Computing market is still nascent, Forrester asserts that "voice and chat interactions are quickly moving into the mainstream." With the reliability of voice technology, pervasiveness of connected devices, and strong preference for ease-of-use, peoples' expectations for digital interactions are dramatically increasing. Conversational Computing Platforms are what enable this on-demand, personalized, and connected experience, handling a variety of complex requests and tasks: from asking your car for directions to the nearest coffee shop to checking your bank balance through a virtual assistant. As Forrester notes: The ability to talk to devices at home; request information through a chat interface; and place an order while driving a car, using only your voice are quickly moving from the realm of science fiction into daily life(1) .

In the report, Forrester notes that "Nuance Communications is a killer solution with a development platform. [It] has been enabling human-machine conversations for many years in the call center, giving it a running start in enabling tomorrow's conversational computing platforms."(1) Forrester also stated in the report that "Nuance tackles large, complex, conversational problems that are often mission-critical. It has strong industry expertise, especially in the call center, along with professional services to back that up."(1) Nuance expertise in delivering solutions for multifaceted, complicated business cases has resulted in the company's impressive roster of relationships with global organizations.

This recognition follows Nuance's #1 ranking in Forrester's June 2017 report, The Top 10 Chatbots For Enterprise Customer Service. These growing accolades underscore Nuance's AI prominence, especially in bringing real, conversational experiences to complex industries, such as healthcare, automotive, telecommunications and financial services. Nuance works with thousands of the world's leading companies, including BMW, Ford, Daimler, HSBC, FedEx, Coca-Cola, American Airlines and Partners HealthCare to bring intelligence to work and life and transform the way people experience technology.

"To be included in this report and evaluated as a strong performer is testament to the tremendous work and advances our team delivers enabling our customer success every day," said Robert Weideman, Executive Vice President & General Manager, Nuance Enterprise Division. "We are laser-focused on helping our customers bring AI to life, simplify daily interactions and solve their most complex business problems."

For more information on Nuance's Conversational Computing capabilities, please visit: nuance.com

About Nuance Communications, Inc.

Nuance Communications, Inc. (NASDAQ:NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations -- in global industries that include healthcare, telecommunications, automotive, financial services, and retail -- to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.

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. All other trademarks referenced herein are the property of their respective owners.

Contact Information

For Press

US

Katie Byrne

Nuance Communications, Inc.

Tel: 781-565-5290

Katie.byrne@nuance.com

(1) New WAVE(TM): Conversational Computing Platforms, Forrester Research, Inc., April 12, 2018

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From: Jorgen Jensen6/26/2018 9:18:03 AM
1 Recommendation   of 832
 
Three longtime directors exiting at Nuance Communications
Jun. 26, 2018 8:38 AM ET|About: Nuance Communications, Inc. (NUAN)|By: Stephen Alpher, SA News Editor
Continuing to shake up leadership under activist pressure, Nuance Communications (NASDAQ: NUAN) announces the retirement (at month-end) of three long-standing members of its board.

The board also announces two new committee chairs and has adopted majority voting as the standard for uncontested director elections. It'll also be easier for shareholders to call special meetings.

The board has engaged a search firm to find new independent directors.

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From: Jorgen Jensen11/12/2018 5:54:03 PM
1 Recommendation   of 832
 
Nuance Signs Definitive Agreement to Sell Document Imaging Division to Kofax

November 12, 2018


Enables Nuance to sharpen focus on its conversational AI- and cloud-related technologies, simplify its business, and improve its growth profile


BURLINGTON, Mass., Nov. 12, 2018 (GLOBE NEWSWIRE) -- Nuance Communications, Inc. (NASDAQ: NUAN) today announced the company has signed a definitive agreement to sell its Document Imaging division to Kofax, Inc. The sale enables Nuance to focus the business entirely on its conversational AI- and cloud- based solutions while simplifying the organization and improving its growth profile. For Kofax, the Document Imaging division bolsters the company’s leadership in Intelligent Automation technologies. Total consideration for the transaction is $400 million in cash. The deal, which is subject to customary closing conditions, is expected to close by the end of Nuance’s second fiscal quarter.

“Nuance is entering the next phase of our organization’s growth and while selling the Document Imaging division was not an easy decision given its many years of contributions and dedication of our Imaging associates, it became clear in our portfolio reviews that this is the right outcome,” said Mark Benjamin, chief executive officer of Nuance. “Selling the Imaging division enables us to sharpen focus on our conversational AI- and cloud-related portfolio and accelerate the transformation well underway at the Company.”

Nuance Document Imaging provides the software solutions and expertise required by professionals and organizations to more securely and efficiently optimize information-centric processes. The Company’s expansive portfolio enables strict compliance with information security policies and regulations while enabling organizations to streamline and eliminate gaps across the full spectrum of workflows spanning the lifecycle of their documents from origin to archiving. For users, Nuance’s Imaging solutions deliver an experience that is consistent, familiar and intuitive for more efficient, natural, and intelligent interactions with technologies used to create, capture, and process documents.

“Through the acquisition of Nuance’s Document Imaging division, Kofax will drive customer value by adding key technologies, including cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, to our end-to-end Intelligent Automation platform,” said Reynolds C. Bish, Chief Executive Officer of Kofax. “In addition, we will now be able to combine the best capture capabilities available in the market into one product portfolio.”

Additional details will be discussed on the Company’s November 19, 2018 fourth quarter earnings call. BofA Merrill Lynch served as Nuance’s financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Baker McKenzie served as Nuance’s legal advisors on the transaction.

About Nuance Communications, Inc.
Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.

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. All other trademarks referenced herein are the property of their respective owners.

Investor and Press contact:
Richard Mack
Nuance Communications, Inc.
Tel: 781-565-5055
Email: richard.mack@nuance.com

Press contact:
Kelby Troutman
Nuance Communications, Inc.
Tel: 781-791-8935
Email: kelby.troutman@nuance.com



Source: Nuance Communications, Inc.


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From: Jorgen Jensen11/19/2018 10:20:10 PM
1 Recommendation   of 832
 
Nuance Announces Fourth Quarter and Fiscal Year 2018 Results
  • Exceeded Non-GAAP Revenue, EPS, Cash Flow and Margin Expectations
  • Announced Strategic Actions after Comprehensive Portfolio Reviews
  • Implemented Significant Changes to Corporate Governance
  • Executed Share Repurchases and Debt Paydown
  • BURLINGTON, Mass., Nov. 19, 2018 (GLOBE NEWSWIRE) -- Nuance Communications, Inc. ( NUAN) today announced financial results for its fiscal 2018 and fourth quarter ended September 30, 2018.

    “The success of our fourth quarter can be measured equally by our strong financial performance as well as the tremendous progress we’ve made toward simplifying our structure, rationalizing our portfolio, enhancing our governance, and improving our internal culture,” said Mark Benjamin, chief executive officer at Nuance. “We met or exceeded our Q4 expectations within each of our core metrics, and are pleased with what we accomplished over these last six months to enhance shareholder value. We made significant changes to our Board, bringing fresh perspectives, skills, and diversity of thought to the Company, and appointed an independent chairman to best represent shareholder interests. We also continued to pivot our capital allocation toward debt paydown and share buybacks to further enhance shareholder value. Perhaps most importantly, we conducted our strategic portfolio reviews and made definitive business decisions that will accelerate our future growth.”

    Mr. Benjamin continued, “As we define this new era for Nuance, we are sharply focused on building a global, conversational AI business that is capable of sustainable, long-term revenue and earnings growth. We are transitioning to cloud-based, intelligence-driven solutions, and allocating resources to ensure maximum success in our high-growth core markets. Executing on these defined strategic priorities will enable Nuance to maintain its leadership as a truly intelligent engagement company, and we look forward to sharing our continued progress.”

    Fourth Quarter Performance Summary

    On a GAAP basis:

  • Revenue of $532.9 million, up 14% compared to $465.9 million a year ago
  • Recurring revenue of 71% of total GAAP revenue, consistent with the year-ago period
  • Net loss of $(35.1) million, or $(0.12) per share, compared to a loss of $(65.4) million, or $(0.23) per share, in the fourth quarter last year
  • Operating margin of 0.9%, compared to (3.8)% in the prior year period
  • Incurred a goodwill and other asset intangible impairment of $33.0 million related to the decision during the quarter to wind down our Subscription Revenue Services (SRS) and Devices businesses
  • Cash flow from operations of $149.4 million, compared to $(3.5) million in the fourth quarter of fiscal year 2017
  • On a non-GAAP basis:

  • Revenue of $536.2 million as reported, up 13% compared to $474.7 million in the fourth quarter last year
  • Organic revenue grew 12% in the quarter to $536.2 million, from $479.6 million in the prior year period
  • Recurring revenue of 71% of­ total non-GAAP revenue, consistent with the year-ago period
  • Net income of $112.5 million, or $0.38 per diluted share, compared to $60.2 million, or $0.20 per diluted share, in the fourth quarter of fiscal year 2017
  • Operating margin of 30.5%, compared to 20.7% in the prior year period
  • Cash flow from operations of $149.4 million, or 133% of non-GAAP net income
  • Net new bookings growth of 10%, to $468.5 million, up from $424.4 million a year ago
  • Fiscal Year Performance Summary

    On a GAAP basis:

  • Revenue of $2,051.7 million, up 6% compared to $1,939.4 million last year
  • Recurring revenue of 71% of total GAAP revenue, compared to 73% in fiscal year 2017
  • Net loss of $(159.9) million, or $(0.55) per share, compared to a loss of $(151.0) million, or $(0.52) per share, in fiscal year 2017
  • Operating margin of (4.2)%, compared to 2.7% last year
  • Incurred a goodwill and other intangible asset impairment of $170.9 million related to SRS business disruption in Q2 18 as well as the Q4 18 decision to wind down our SRS and Devices businesses
  • Cash flow from operations of $444.4 million, compared to $378.9 million in fiscal year 2017
  • Total deferred revenue ending balance of $873.0 million, up 11% compared to $790.0 million at fiscal year-end 2017
  • Total cash, cash equivalents and marketable securities ending balance of $473.5 million versus $874.1 million as of September 30, 2017.
  • On a non-GAAP basis:

  • Revenue of $2,069.4 million as reported, up 5% compared to $1,977.4 million last year
  • Organic revenue grew 4% compared to (3)% in the prior year period
  • Recurring revenue of 72% of­ total non-GAAP revenue, compared to 73% in fiscal year 2017
  • Net income of $351.9 million, or $1.19 per diluted share, compared to net income of $309.0 million, or $1.05 per diluted share, in fiscal year 2017
  • Operating margin of 26.1%, compared to 26.4% last year
  • Cash flow from operations of $444.4 million, or 126.3% of non-GAAP net income
  • Net new bookings growth of 5%, to $1,734.6 million, up from $1,653.6 million a year ago
  • Portfolio Review, Business Review and Transformation Program

    Healthcare and Enterprise Focus – After conducting the strategic business review, Nuance created a comprehensive plan to simplify its operations and enhance its focus on growth markets, including the Healthcare, Enterprise and Automotive segments. Therefore, the Company will maintain its Healthcare and Enterprise business segments, where Nuance brings deep business-to-business relationships, differentiated technology and contextual expertise.

    Automotive Segment Spin-Off – The Automotive segment delivers critical enabling technology for transforming the passenger experience. Therefore, becoming a pure-play next generation automotive software company represents an important step in this segment’s growth. Accordingly, in conjunction with today’s earnings announcement, Nuance announced its intention to spin off the Automotive segment into a new, independent, publicly-traded company. Additional information about the proposed transaction is available in the separate press release issued today.

    Imaging Business Sale – As announced on November 12, 2018, Nuance is selling its Imaging business to Kofax for a purchase price of $400 million, in a transaction that is expected to close by the end of Q2 19.

    Subscription Revenue Services (SRS) and Devices Wind-Down – During the fourth quarter, Nuance decided to wind down the Subscription Revenue Services (SRS) business because it is non-core to Nuance’s AI strengths. The Company is also commencing the wind-down of the consumer-focused Devices business.

    Operational Transformation Program – In tandem with the Company’s strategic portfolio review, Nuance is optimizing its organizational structure. This process has identified $50 million in cost savings that will be implemented in fiscal year 2019, primarily during the first and second quarter.

    Capital Allocation
    In Q3 18, the Company implemented a capital allocation strategy for the fiscal year focused on opportunistic share repurchase and debt repayment. Accordingly, during fiscal year 2018, Nuance repurchased a total of 9.7 million shares of common stock, representing 3.3% of total shares outstanding as of September 30, 2017, at an average price of $14.03 per share, and a total purchase price of $136.1 million.

    In addition, in Q4 18, the Company repaid $150 million of its 2020 5.375% high-yield bonds at par, reducing annual cash interest expense by approximately $8.1 million. As a result, total debt maturity value is approximately $2.44 billion as of September 30, 2018, down from $2.59 billion as of June 30, 2018, and the Company’s net debt leverage ratio is 3.3.

    Governance Improvements and Management Additions
    Nuance refreshed its Board in September, naming four new independent directors and a new non-executive Board Chair, bringing new talent, with a wealth of relevant expertise and relevant skills. Of the nine Board members, seven have joined since December 2017 and eight are independent directors, including Lloyd Carney, who was named the new chairman. Separately, on November 9, 2018, Nuance announced that its Board had changed its Bylaws to enable holders of at least 20% of Nuance common stock outstanding to request that the Company call a special meeting of stockholders.

    Business Outlook
    For a complete discussion on Nuance’s fourth quarter and fiscal year 2018 results and 2019 business outlook, please see the Company’s Prepared Remarks document available at globenewswire.com.

    Please refer to the “Discussion of Non-GAAP Financial Measures,” and “GAAP to Non-GAAP Reconciliations,” included elsewhere in this release, for more information regarding the company’s use of non-GAAP financial measures.

    Conference Call and Prepared Remarks
    Nuance provides prepared remarks in combination with its press release. This quarter, the company is also providing a PowerPoint presentation to accompany the conference call discussion to provide insights into the business update. The prepared remarks are offered to provide shareholders and analysts with additional time and detail for analyzing results in advance of the company’s quarterly conference call. The remarks will be available at globenewswire.com in conjunction with this press release but will not be read on the conference call.

    Nuance will host an investor conference call today that will begin at 5:00 p.m. ET and will include management comments followed by questions and answers. To access the live broadcast, and to view the PowerPoint presentation that will accompany this call, please visit the Investor Relations section of Nuance’s website at globenewswire.com. The call can also be heard by dialing (877) 273-6124 or (647) 689-5393 at least five minutes prior to the call and referencing conference code 2572316. A replay will be available shortly following the conclusion of the call by dialing (800) 585-8367 or (416) 621-4642 and using the access code 2572316. The presentation will be available on the Nuance Investor Relations site after the call is completed.

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    From: Jorgen Jensen5/9/2019 3:29:32 PM
    1 Recommendation   of 832
     
    May 8, 2019 4:59 PM ET|
    Nuance Communications (NASDAQ: NUAN) is up 1.5% after it cleared expectations in its fiscal Q2 earnings, with a better-than-expected revenue decline and EPS that grew more than 25% amid strength in Dragon Medical, Automotive and Enterprise cloud.

    Net income grew to $84.8M from $68.4M, on revenues that dipped to $451M. Recurring revenue was $354.4M, up 250 basis points proportionally.

    Operating margin (non-GAAP) was 27.3%, down from 24.2%.

    Revenue by segment (comparing on ASC 605 basis): Hosting and professional services, $264.3M (down 3.3%); Product and licensing, $124.2M (down 4.8%); Maintenance and support, $60.5M (down 2.9%).

    Operating cash flow (continuing operations) was $111.6M, up from $97.4M a year ago; it was 132% of non-GAAP net income.

    Conference call to come at 5 p.m. ET.

    In prepared remarks, it updated guidance and urged a segment trend look in a "year of transition." It's narrowed revenue guidance around a midpoint of $1.868B, with 2-4% growth in strategic segments.

    It sees Enterprise revenue of $503M-$511M, up from a previous $490M-$500M, and healthcare revenue of $981M-$995M, down from a previous $989M-$1.011B.

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    From: Jorgen Jensen11/21/2019 11:57:58 PM
    1 Recommendation   of 832
     
    Nuance Announces Fourth Quarter andFiscal Year 2019 Results• 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 38% growth• Successful completion of October 1stAutomotive spin• Exited year as a simpler, more growth-focused companyBURLINGTON, Mass., November 20, 2019 -Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its fourth quarter and fiscal year ended September 30, 2019.ASC 606 Q4 2019 Performance Summary (1)• GAAP revenue of $470.7 million and GAAP earnings per diluted share of $0.37.• Non-GAAP revenue of $472.0 million and non-GAAP earnings per diluted share of $0.33.ASC 605 Q4 2019 Performance Summary (1)• ASC 605 revenue of $487.8 million and earnings per diluted share of $0.42.• Non-GAAP revenue of $489.3 million and non-GAAP earnings per diluted share $0.34.(1) As a reminder, effective October 1, 2018, Nuance adopted the ASC 606 revenue recognition standard using the modified retrospective approach. Under this adoption methodology, the Company does not recast its historical financials to reflect the implementation of ASC 606. Results will be presented for Q4 ‘19 under both ASC 605 and 606 methodologies and all relevant year-over-year financial comparisons and trends will be on an ASC 605 basis only. In addition, due to the sale of the Imaging business, the Company is presenting results on a continuing operations basis, unless otherwise noted.“We completed this transformational year on a strong footing, executing on our strategic and financial objectives,” said Mark Benjamin, Chief Executive Officer at Nuance. “We posted our sixth consecutive quarter of solid results, meeting or beating our expectations, including 38% full-year ARR growth in our Dragon Medical cloud offerings. This is a testament to the validity of our strategy and the dedication of our employees. 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. This followed our accelerated exit from our non-core Subscription Revenue Services (SRS) business. 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.”

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    From: Jorgen Jensen1/13/2020 6:49:38 PM
       of 832
     
    Morgan Stanley upgrades to Overweight:

    Jan. 13, 2020 8:24 AM ET|About: Nuance Communications, Inc. (NUAN)|By: Brandy Betz, SA News Editor Morgan Stanley upgrades Nuance (NASDAQ: NUAN) from Equal Weight to Overweight with a $23 price target, a 25% upside. The company has a Bullish average Sell Side rating.

    Upcoming catalysts: Nuance will hold its annual meeting on January 22 and is expected to report earnings on February 6. The Street sees $406.3M in revenue and $0.24 EPS.

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