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Nuance Communications profit misses consensus by 93.2% in fiscal Q1

Nuance Communications Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 2 cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.

The per-share result swung to a profit from the prior-year loss of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.8 million, compared with a loss of $23.6 million in the year-earlier period.

The normalized profit margin rose to 1.4% from negative 5.0% in the year-earlier period.

Total revenue increased year over year to $486.1 million from $474.0 million, and total operating expenses declined 7.8% on an annual basis to $444.2 million from $481.6 million.

Reported net income came to a loss of $12.3 million, or a loss of 4 cents per share, compared to a loss of $51.5 million, or a loss of 16 cents per share, in the year-earlier period.