Nuance reports $1.9 million revenue for fiscal 2014, rise in healthcare sales

Voice recognition firm Nuance Communications reported strong financial results for its fiscal 2014 and fourth quarter, earning non-GAAP revenue of $1,923.5 million for the fiscal year.

The figure is a 3.7% increase over Nuance’s non-GAAP revenue of $1,855.3 million in fiscal 2013.

Additionally, Nuance saw a small rise in its shares by nearly 4 percent in extended trading, earning 33 cents per share in the fourth quarter.

The majority of Nuance’s business stems from the healthcare sector, as the company is selling voice-assisted documentation software to healthcare firms and its customers, including Avera Health, BayCare, Cambridge Trusts and Cleveland Clinic.

Nuance said revenue from its healthcare business increased 7 percent and accounted for 47 percent of total revenue in the fourth quarter.

Meanwhile, the company’s total revenue jumped 6.4 percent to $502.3 million in the quarter ended September 30.

Nuance’s net loss dropped down to $1.5 million, which can be attributed to a $21 million income tax provision benefit, from $32.3 million a year earlier.

Earlier this year, Nuance Communications was in talks with Samsung, along with other private-equity firms, regarding a possible sale.

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