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UPDATE 1-Nuance shares fall as first-qtr results miss Wall Street's estimates
February 7, 2013 / 9:52 PM / 5 years ago

UPDATE 1-Nuance shares fall as first-qtr results miss Wall Street's estimates

Feb 7 (Reuters) - Speech recognition software maker Nuance Communications Inc reported lower-than-expected first-quarter results, hurt by higher expenses.

Shares of the Burlington, Massachusetts-based company fell 12 percent to $21.54 during extended trade on the Nasdaq on Thursday.

The company reported a net loss of $22.1 million, or 7 cents per share, in the first quarter, compared with a profit of $9.3 million, or 3 cents per share, a year earlier.

Excluding items, Nuance, whose technology powers the Siri voice recognition feature on Apple Inc’s iPhone, earned 35 cents per share.

Revenue rose 28 percent to $462.3 million.

Analysts on average were looking for a profit of 36 cents per share and revenue of $492.4 million, according to Thomson Reuters I/B/E/S.

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