Nuance loss widens in Q1 2008 despite higher revenues
Nuance Communications posted increased revenue and losses in financial results for its 2008 first fiscal quarter, which ended Dec. 31, 2007.
On a generally accepted accounting principles (GAAP) basis, the Burlington, Mass.-based company reported revenues rose 46 percent to $195 million in the quarter, compared to $133.4 million in the same quarter last year.
However, Nuance also booked a net loss of $15.4 million for the period, compared with a net loss of $1.2 million, in the year-ago quarter. The company attributed higher costs and purchase accounting losses for the widening loss.
“Nuance delivered a strong start to fiscal 2008, carrying forward the momentum and favorable trends of 2007 into our first quarter performance,” said Paul Ricci, chairman and CEO of Nuance. “In particular, demand for our solutions, especially those delivered within the mobile industry and in healthcare organizations, remained strong.”
On a generally accepted accounting principles (GAAP) basis, the Burlington, Mass.-based company reported revenues rose 46 percent to $195 million in the quarter, compared to $133.4 million in the same quarter last year.
However, Nuance also booked a net loss of $15.4 million for the period, compared with a net loss of $1.2 million, in the year-ago quarter. The company attributed higher costs and purchase accounting losses for the widening loss.
“Nuance delivered a strong start to fiscal 2008, carrying forward the momentum and favorable trends of 2007 into our first quarter performance,” said Paul Ricci, chairman and CEO of Nuance. “In particular, demand for our solutions, especially those delivered within the mobile industry and in healthcare organizations, remained strong.”