UPDATE 1-Nuance Communications posts wider Q2 net loss
(Recasts; adds details, outlook from call, share movement)
May 12 (Reuters) - Nuance Communications Inc (NUAN.O), a maker of speech recognition and imaging products, posted a wider quarterly net loss, hurt by higher expenses, and forecast a third-quarter loss.
Nuance shares were trading down more than 5 percent at $19.90 after the bell. They closed at $21.01 Monday on Nasdaq.
For the third quarter, the Burlington, Massachusetts-based company expects a loss of 7 cents to 9 cents a share on revenue of $217 million to $221 million.
However, on a non-GAAP basis, it expects to earn 20 cents to 22 cents a share on revenue of $229 million to $234 million during the quarter.
Analysts on average were expecting a profit of 21 cents a share, before special items, on revenue of $227.3 million, according to Reuters Estimates.
Nuance reported a second-quarter net loss of $26.8 million, or 13 cents a share, compared with net loss of $1.7 million, or 1 cent a share, a year ago. Revenue rose 54 percent to $203.3 million.
Excluding items, it earned 18 cents a share, which was in line with analysts' expectations.
The company posted revenue of $220.0 million on a non-GAAP basis. Analysts were expecting $214.5 million.
Total operating expenses rose 62 percent to $133.2 million during the second quarter. (Reporting by Bijoy Koyitty in Bangalore; Editing by Himani Sarkar)
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