Nuance Communications Updates FY18 Organic Growth Estimates - Quick Facts

(RTTNews) - Nuance Communications, Inc. (NUAN) announced, due primarily to the significant changes in the company's SRS business and outlook, it revised fiscal 2018 growth estimates to 2% to 4% organic growth from 3% to 5% organic growth. The company reiterated its expectation for 5% to 7% growth in net new bookings in fiscal 2018.

For second-quarter, non-GAAP revenue was $518.3 million, up 1%, compared to $511.1 million in the second quarter of fiscal year 2017. Organic revenue growth was 1% compared to the prior year, led by 8% growth in Healthcare and 12% growth in Automotive. Net new bookings were $376.6 million, down 8%, from $410.4 million a year ago.

Second-quarter non-GAAP net income was $79.1 million, or $0.27 per diluted share, compared to non-GAAP net income of $92.8 million, or $0.32 per diluted share, in the second quarter of fiscal year 2017.