Nuance Communications, Inc. (NUAN) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $18.47 million, or $ 0.06 a share in the quarter, against a net loss of $11.03 million, or $0.04 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $118.56 million, or $0.41 a share compared with $129.65 million or $0.41 a share, a year ago.
Revenue during the quarter went up marginally by 0.41 percent to $506.20 million from $504.12 million in the previous year period. Gross margin for the quarter expanded 31 basis points over the previous year period to 58.41 percent. Total expenses were 91.02 percent of quarterly revenues, down from 94.32 percent for the same period last year. This has led to an improvement of 329 basis points in operating margin to 8.98 percent.
Operating income for the quarter was $45.43 million, compared with $28.66 million in the previous year period.
However, the adjusted operating income for the quarter stood at $153 million compared to $155.24 million in the prior year period. At the same time, adjusted operating margin contracted 57 basis points in the quarter to 30.23 percent from 30.80 percent in the last year period.
Operating cash flow improves
Nuance Communications, Inc. has generated cash of $565.80 million from operating activities during the year, up 16.04 percent or $78.22 million, when compared with the last year.
The company has spent $263 million cash to meet investing activities during the year as against cash outgo of $206.15 million in the last year.
The company has spent $305.12 million cash to carry out financing activities during the year as against cash outgo of $341.23 million in the last year period.
Cash and cash equivalents stood at $481.62 million as on Sep. 30, 2016, up 0.45 percent or $2.17 million from $479.45 million on Sep. 30, 2015.
Debt moves up
Nuance Communications, Inc. has witnessed an increase in total debt over the last one year. It stood at $2,433.15 million as on Sep. 30, 2016, up 15.43 percent or $325.24 million from $2,107.91 million on Sep. 30, 2015. Total debt was 42.98 percent of total assets as on Sep. 30, 2016, compared with 37.74 percent on Sep. 30, 2015. Debt to equity ratio was at 1.26 as on Sep. 30, 2016, up from 0.93 as on Sep. 30, 2015.
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