Nuance Communications Inc NUAN
Q4 2012 Earnings Call Transcript

Transcript Call Date 11/19/2012

Operator: Ladies and gentlemen, thank you for standing by, and welcome to Nuance's Fiscal 2012 and Fourth Quarter Conference Call. At this time, all lines are in a listen-only mode. Later, we'll conduct a question-and-answer session and instructions will be given at that time. As a reminder, today's conference is being recorded.

With us today are Chairman and Chief Executive Officer of Nuance, Mr. Paul Ricci; CFO, Mr. Tom Beaudoin; and Vice President of Investor Relations, Mr. Kevin Faulkner.

At this time, I'd like to turn the call over to Mr. Faulkner. Please go ahead.

Kevin Faulkner - VP, IR: Thank you. Before we begin, I remind everyone that matters we discuss this afternoon include predictions, estimates, expectations and other forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially. You should refer to our recent SEC filings for a detailed list of risk factors.

As noted in our press release, we also issued a set of prepared remarks in advance of this call, which are available on our website. Those remarks are intended to serve in place of extended formal comments and we'll not repeat them here.

Now, let me turn the call over to Paul Ricci.

Paul Ricci - Chairman and CEO: Good afternoon. Before taking your questions, I would like to underscore a few key points. Nuance had an exceptional fiscal 2012. Our fiscal 2012 financial results were unprecedented, 25% revenue growth, 27% EPS growth, 29% net income growth, 32% operating cash flow growth along with record bookings.

We are of course very pleased with these strong financial results, but equally important was the significant strategic and operational progress we made across our business. Nuance has become the industry standard for voice and natural language solutions, making our technologies broadly available through our APIs and developer tools. Our cloud-based developer programs are now serving more than 14,000 developers across our healthcare, mobile and enterprise markets while also continuing to build broader application suites serving these key markets.

In our Mobile & Consumer business, we expanded our privileged position as a premier provider of voice and natural language solutions for the leading smartphone platforms worldwide. We continued our unrivaled leadership in the automotive market while delivering early success in the emerging market for connected car solutions. We entered another new market with the launch of Dragon TV and captured a majority of the leading television makers. We increased the penetration of our mobile services through leading global carriers, smartphone makers and application developers.

By the end of Q4 fiscal '12 we were at an annualized rate processing 5 billion mobile cloud transactions, shipping in 20 million voice-enabled cars, and shipping voice and natural language or predictive text technologies in more than 800 million phones, all well supporting between 38 and 70 languages depending upon the product.

We improved growth in our enterprise business. We saw encouraging progress in our enterprise on-demand business with new bookings in the second half the year and record professional services. We processed more than 7.5 billion interactions in our on-demand centers. We also unveiled Nina, a platform for delivering customized virtual assistance for customer self-service. The Nina launch generated a great deal of enthusiasm from existing and new customers and the breadth of our pipeline reflects unprecedented demand.

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