Professional services, subscription, and hosting revenue grew 44%
Speech-recognition software vendor Nuance Communications has reported a net loss of $24.55m for the first quarter 2009, compared to a loss of $15.42m in the year-ago quarter, on revenue up 11% at $216.83m.
It made an operating loss of $7.42m compared to $3.44m operating profit in the same period last year. Diluted net loss per share was $0.10 compared to $0.08 a year ago.
It said product and licensing revenue fell 13% to $85.57m, professional services, subscription, and hosting revenue grew 44% to $90.19m, and maintenance and support revenue increased 18% to $41.06m.
Paul Ricci, chairman and chief executive of Nuance, said: Nuance delivered a solid first quarter of fiscal 2009 despite deteriorating economic conditions. We continued to witness strong demand for our healthcare solutions. We saw sustained momentum across our on-demand and other recurring revenue streams, demonstrating resiliency in a turbulent market. And, we maintained strict operational discipline and spending controls, which helped improve margins and delivered record cash flows in the quarter.
For the second quarter, the company expects adjusted earnings of $0.21 to $0.23 a share, and on a net basis expects a loss of $0.05 to $0.03 a share. For fiscal 2009, it adjusted its revenue forecast to between $952m and $1.08 billion, down from its prior forecast of $1.02 billion to $1.14 billion.