Citing "execution issues and external factors," speech recognition and software developer Nuance Communications expressed disappointment with its second-quarter net loss in its 2013 fiscal year (end-March 29).
Revenue under generally accepted accounting principles (GAAP) increased 16% to $451 million in the second quarter of fiscal 2013, compared with $390.3 million in the second quarter of fiscal 2012. However, Nuance also reported a net loss of $25.8 million, compared with net income of $890,000 in the second quarter of the last fiscal year.
For the six-month period, GAAP revenues advanced 21% to $913.3 million, compared with $751 million in the same period of fiscal 2012. The company also posted a net loss of $47.9 million in the first half of fiscal 2013, compared with net income of $10.2 million in the same period a year ago.
Nuance's Healthcare business segment tallied revenue of $219.1 million in the second fiscal quarter, an increase of 47% from the $149.7 million reported in the second quarter of 2012. For the six-month period of fiscal 2013, revenue rose 43% to $423.8 million, compared with $294 million in the same period a year ago.
In a prepared statement, Paul Ricci, Nuance chairman and CEO, said the company has taken "immediate corrective actions to improve the performance of our business and revised our operating plan accordingly."
