Nuance Communications (NUAN) Boosts Q3 Outlook; New CFO Appointed

Nuance Communications (NASDAQ: NUAN) announced preliminary revenue, EPS and cash flow from operations results for its fiscal third quarter 2015, ended June 30, 2015.

Based on preliminary financial data, Nuance expects Q3 15 non-GAAP revenues between $485 million and $489 million; GAAP revenues between $474 million and $478 million; non-GAAP EPS between $0.31 and $0.32 per diluted share; GAAP EPS between ($0.14) and ($0.13) per share; and cash flow from operations of approximately $120 million. The preliminary expectations are subject to revision until the Company reports final Q3 15 results on August 6, 2015. (See today’s separate advisory for details.)

On May 7, 2015, Nuance provided initial guidance for Q3 15 of non-GAAP revenues between $468 and $482 million; GAAP revenues between $457 and $471 million; non-GAAP EPS between $0.25 and $0.29; and GAAP EPS between ($0.15) and ($0.11).

*** The Street sees Q3 revenue of $477 million and EPS of $0.28.

Dan Tempesta Appointed Nuance Chief Financial Officer

Nuance today also announced that it has appointed Daniel D. Tempesta as its Chief Financial Officer and an Executive Vice President. Tom Beaudoin, who has served as Nuance’s CFO since July 2008, will depart at the end of the month to pursue an opportunity at a smaller, privately held company.

Mr. Tempesta brings more than 20 years of experience to the role, including extensive financial and operational experience with publicly held companies and accounting firms. He joined Nuance in March 2008 and most recently has served as Nuance’s Chief Accounting Officer, Corporate Controller and Senior Vice President of Finance. During his tenure at Nuance, he has led the company’s efforts to build strong financial processes and other support operations, and has assembled a world-class financial organization. For the past several years, he has led most of Nuance’s finance and accounting operations, as well as tax, treasury, order management and internal control activities.

“Dan is extremely well qualified to serve as Nuance’s next CFO,” said Paul Ricci, Nuance Chairman and CEO. “He has delivered an impressive set of achievements at Nuance and, with his deep understanding of our company and its operations, will be central to our strategic and financial business performance.”

Mr. Ricci added, “Tom has been instrumental in providing financial leadership during many years of the company’s growth. Working together, Tom and Dan have built financial systems, strong processes and a level of professionalism that will serve Nuance well for many years to come. We wish Tom the best in his new endeavor.”

Previously, Mr. Tempesta held several senior finance roles, including Chief Accounting Officer and Corporate Controller, at Teradyne Inc. Prior to that he spent the first eleven years of his career in the audit practice of PricewaterhouseCoopers LLP. He received an accounting degree from the Isenberg School of Management at the University of Massachusetts, Amherst. Dan resides with his family in a suburb of Boston.

“I am pleased to see Dan take this role,” said Robert Frankenberg, a Nuance Director and Chair of the Audit Committee. “I have worked closely with Dan for many years, and I am extremely confident that Dan will continue to effectively lead the finance organization and to drive operational excellence, set clear expectations and ensure profitable growth and strong shareholder returns.”

You May Also Be Interested In

• Safe & Green (SGBX) Provides Update on Audit and Planned 10-K Filing
• Abbott Laboratories (ABT) narrows 2024 earnings guidance, shares slip
• Asbury Automotive Group (ABG) Announces Retirement of Chief Legal Officer