Synopsys Posts Financial Results for Third Quarter Fiscal Year 2012

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http://synopsys.mediaroom.com/index.php?s=43&item=1057

Press release:

NetApp Announces Results For First Quarter Fiscal Year 2013

Company Reports Q1 FY’13 Revenues of $1.445 billion; Non-GAAP Earnings per Share of $0.42

• View Financial Tables (PDF)

Sunnyvale, Calif.— August 15, 2012 — NetApp (NASDAQ: NTAP) today reported results for the first quarter of fiscal year 2013, which ended July 27, 2012. Revenues for the first quarter of fiscal year 2013 were in line with our prior guidance and totaled $1.445 billion, compared to revenues of $1.458 billion for the same period one year ago.

For the first quarter of fiscal year 2013, GAAP net income was $64 million, or $0.17 per share^[1], compared to GAAP net income of $140 million, or $0.34 per share for the same period a year ago. Non-GAAP net income for the first quarter of fiscal year 2013 was $156 million, or $0.42 per share^[2], compared to non-GAAP net income of $222 million, or $0.55 per share for the same period a year ago.

“NetApp produced non-GAAP earnings per share above and revenue in line with our prior guidance. In Q1, we announced further innovations in Data ONTAP® 8.1 that will enable customers to achieve an agile data infrastructure environment to cope with their dynamic business requirements,” said Tom Georgens, president and CEO. “We continue to deliver on multiple fronts, advancing our technology and partnerships. With our best-of-breed partnering strategy and ongoing innovation-led solutions, we enable our customers to scale their business without limits.”

Outlook
NetApp’s outlook for the second quarter of fiscal year 2013 is based on current business expectations, market conditions, and continued uncertainty in the macroeconomic environment.

• NetApp estimates revenue for the second quarter of fiscal year 2013 to be in the range of $1.5 billion to $1.6 billion.
• NetApp estimates GAAP earnings per share for the second quarter of fiscal year 2013 to be approximately $0.23 to $0.28 per share. NetApp estimates non-GAAP earnings per share for the second quarter fiscal year 2013 to be approximately $0.45 to $0.50 per share.
• NetApp estimates that the share count for the second quarter of fiscal year 2013 will decrease to approximately 370 million shares, and will include an estimated 700 thousand shares from the Company’s outstanding convertible notes^[3]. Share count does not include the Company’s outstanding note hedges which are expected to offset 80% of the dilution from the convertible notes at maturity or conversion.

Business Highlights
Fundamental to NetApp’s growth strategy is a commitment to innovation leadership across all facets of the storage industry with a goal to help propel its customers’ and partners’ business success.

In its first quarter of fiscal year 2013, this focus on innovation spanned across NetApp® products, solutions, technologies, and its culture. NetApp strengthened its reputation as an innovation leader with the latest offering of Data ONTAP, the #1 storage operating system. Data ONTAP provides the foundation for customers who require an agile data infrastructure to thrive in today’s always-on global economy. Additionally, NetApp unveiled innovative new products, technologies, and programs that enable further penetration into the data center, help customers of all sizes capitalize on data growth to fuel their success and help channel partners expand their businesses. NetApp also continued to strengthen its relationship with industry leaders like Cisco and Microsoft. Finally, NetApp once again was recognized around the world for its culture, which continues to provide competitive differentiation that makes NetApp a preferred company to do business with for both customers and partners.

Highlights for the quarter include the following:

Agile Data Infrastructure Makes IT Intelligent, Immortal, and Infinite

• NetApp, in collaboration with its partners, is transforming how customers architect and manage their data storage infrastructures differently to be more agile in order to fuel business success. With the latest release of Data ONTAP, NetApp is helping IT departments more effectively respond to changing business requirements, maintain nondisruptive operations, and grow their businesses. Data ONTAP 8.1.1 is another milestone in NetApp’s innovation agenda that is the basis for delivering new approaches to managing data for business impact.

Midsize Business Customers Accelerate Growth and Leverage the Cloud with NetApp

• NetApp unveiled the new FAS2220, the latest member of its entry-level product portfolio which will provide midsize customers with innovative new technologies and increased value, enabling customers to start right, keep it simple, and grow smart. The FAS2220 builds on the momentum and success of the recently introduced FAS2240. Additionally, NetApp introduced an expanding ecosystem of value-added reseller partners to provide midsize businesses with cloud backup and disaster recovery services built on NetApp solutions, along with new channel enablement programs designed to help partners grow their businesses.

FlexPod Momentum Continues with Premium Partner Framework

• Cisco and NetApp launched a global channel initiative to accelerate market momentum of the FlexPod converged infrastructure solution that to date has almost 1,300 customers. The new FlexPod Premium Partner Framework will reward FlexPod channel partners for investing in sales capabilities and services practices. The new framework is a testament to NetApp’s continued focus on enabling its partners’ success as it will deliver increased differentiation, streamline multi-vendor interactions, and enhance profitability.

Customers Gain Greater Business Value from Big Data with NetApp Solutions

• NetApp and Hortonworks announced a joint development project to make Apache Hadoop solutions more enterprise ready, helping customers simplify access to their data and gain deeper business insights to make the right decisions. NetApp also unveiled the NetApp Open Solution for Hadoop Rack, offering customers greater choice and flexibility to deploy Hadoop in the enterprise. Finally, NetApp introduced enhanced data protection and simplified management capabilities to help customers accelerate their big data innovation on the NetApp E-Series platform.

Awards and Milestones

• Serving customer needs earns NetApp the Microsoft Private Cloud Partner of the Year Award for 2012.NetApp is focused on delivering innovative solutions that address customer challenges and help partners fuel their businesses. This recognition from Microsoft reinforces NetApp’s long-standing commitment to storage and storage management solutions for Microsoft environments that enable organizations to reduce costs, increase agility, improve efficiency, and utilize proven platforms.
• NetApp continues to earn recognition as a great place to work. Built on a culture of innovation committed to partner and customer success, NetApp was ranked on several different “Best Places to Work” lists around the world. Rankings included #2 in Australia, #2 in Europe, #3 in Canada, #5 in the United Kingdom, #19 in India, and several local awards within the United States.
• NetApp positioned in Leaders quadrant. Gartner, Inc., placed NetApp in the Leaders quadrant for storage resource management and SAN management software. Gartner asserted that vendors in the Leaders quadrant “have the highest combined measures of ability to execute and completeness of vision.”^[4]

Webcast and Conference Call Information
The NetApp first quarter of fiscal year 2013 results conference call will be broadcast live on the Internet atinvestors.netapp.com on Wednesday, August 15, 2012, at 2:30 p.m. Pacific Time. This press release and any other information related to the call will also be posted on the Web site at that location. An audio replay Webcast will be available after 4:30 p.m. Pacific Time on the Web site.

NetApp uses a hybrid format for disclosing key financial information associated with our quarterly results. Concurrent with the press release, NetApp posts a supplemental commentary with financial information and statistics to our Web site at investors.netapp.com.

About NetApp
NetApp creates innovative storage and data management solutions that deliver outstanding cost efficiency and accelerate business breakthroughs. Discover our passion for helping companies around the world go further, faster at www.netapp.com.

Nuance Announces Third Quarter Fiscal 2012 Results

Press release:

Strength in Mobile & Consumer Segment Delivers Growth in Revenue and Operating Cash Flow

BURLINGTON, Mass., August 7, 2012 – Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its third quarter of fiscal 2012, ended June 30, 2012.

Nuance reported GAAP revenue of $431.7 million in the third quarter of fiscal 2012, a 31.3% increase over GAAP revenue of $328.9 million in the third quarter of fiscal 2011.  Nuance reported non-GAAP revenue of $448.2 million, which includes $16.5 million in revenue lost to accounting treatment in conjunction with acquisitions.  Third quarter fiscal 2012 non-GAAP revenue grew 29.9% over non-GAAP revenue of $345.1 million in the same quarter last year.

In the third quarter of fiscal 2012, Nuance recognized GAAP net income of $79.3 million, or $0.25 per diluted share, compared with GAAP net income of $41.6 million, or $0.13 per diluted share, in the third quarter of fiscal 2011. In the third quarter of fiscal 2012, Nuance reported non-GAAP net income of $143.7 million, or $0.45 per diluted share, compared to non-GAAP net income of $111.2 million, or $0.35 per diluted share, in the third quarter of fiscal 2011. Nuance’s third quarter fiscal 2012 non-GAAP operating margin was 36.1%, up from 35.4% in the third quarter of fiscal 2011. Nuance reported cash flow from operations of $141.5 million in the third quarter of fiscal 2012, a 41.4% increase over $100.1 million in the third quarter of fiscal 2011. Nuance ended the third quarter of fiscal 2012 with a balance of cash and cash equivalents of $539.6 million.

Please refer to the “Discussion of Non-GAAP Financial Measures” and to the “GAAP to Non-GAAP Reconciliations,” included elsewhere in this release, for more information regarding the company’s use of non-GAAP measures.

“Nuance delivered 30% year-over-year revenue growth and 41% year-over-year operating cash flow growth,” said Tom Beaudoin, Nuance executive vice president and CFO. “We were pleased to see a strong performance in our Mobile & Consumer business, led by mobile phones, automobiles, televisions and other consumer electronics, as well as continued momentum in our Healthcare business. Across our markets, our ability to deliver voice and natural language systems that understand user intent, create conversational outcomes, and deliver answers to complex questions is driving design wins and unprecedented customer interest.”

In the third quarter of fiscal 2012, Nuance delivered 30% non-GAAP revenue growth, 29% non-GAAP net income growth and 41% operating cash flow growth, compared to the third quarter of fiscal 2011. Revenue growth was strongest in our Mobile & Consumer, Healthcare and Imaging markets, representing 42.2%, 32.4% and 32.7%, respectively. Revenue growth was broad based across revenue types. Mobile & Consumer revenue growth was driven by increased license revenue for mobile phones, automobiles, televisions and other consumer electronics, fees for access to cloud-based mobile services and professional services to support development of custom, next generation mobile applications, all of which offset lower Dragon revenue in advance of the July 2012 launch of Dragon NaturallySpeaking 12. Healthcare revenue growth was driven by the acquisition of Transcend as well as organically increased volume in Nuance’s on-demand business. Enterprise revenue growth was driven by increased on-premise license revenue from our acquisition of Loquendo, as well as professional services. Imaging revenue growth was driven by our acquisition of Equitrac as well as growth in embedded MFP solutions.

Across Nuance’s markets, customer interest in voice applications is increasing rapidly, resulting in solid on-demand bookings in the quarter. In particular, recently released virtual assistant capabilities resulted in handset, television and automobile bookings and design wins, including several contracts with telephone, automobile, television and consumer electronics OEMs. In addition, next-generation conversational and natural-language applications are driving demand and accelerated bookings for Nuance’s Healthcare and Enterprise businesses. On-demand bookings, led by Nuance’s Healthcare and Mobile & Consumer businesses, as well as the acquisition of Transcend, enabled 43% growth in the estimated 3-year value of on-demand contracts compared to the third quarter of fiscal 2011.

Highlights from the quarter include:

• Healthcare – For Nuance’s healthcare solutions, third quarter non-GAAP revenue was $184.5 million, up 32.4%, as reported, from the same quarter last year. During the third quarter, new bookings included large eScription, Dragon Medical and radiology contracts. Key healthcare customers included Adventist West, Alberta Health System, Allscripts, Baycare, Cerner, HCA Richmond, Maine Medical, Sharp Healthcare, Trinity Hospital, UMC, University Physicians and Healthcare and Vanguard Health System.
• Mobile & Consumer – For Nuance’s mobile and consumer solutions, third quarter non-GAAP revenue was $132.4 million, up 42.2%, as reported, from the same quarter last year. Key mobile customers, new bookings or design wins in the quarter included Chrysler, Diebold, DirecTV, German Ministry of Justice, HTC, Huawei, Kyocera, LG, Mazda, Motorola, Nintendo, Nissan, Nokia, Renault, Samsung, Sharp, SOMC, Sprint, Telstra, TISA, Toyota, TPV, Volkswagen and ZTE.
• Enterprise – For Nuance’s enterprise solutions, third quarter non-GAAP revenue was $74.5 million, up 6.6%, as reported, from the same quarter last year. Key enterprise customers in the quarter included Banco Santander, Barclays, BT, Bynet, Comcast, Delta Airlines, Israel Prisons, Medical Mutual, New York City 311, OnStar, ScotiaBank, Telecomm Italia and Union Bank.
• Imaging – For Nuance’s document imaging solutions, third quarter non-GAAP revenue was $56.8 million, up 32.7%, as reported, from the same quarter last year. Nuance achieved key third quarter bookings and design wins with Brother, Canon, CSPL, HP, Ricoh and Xerox.

Nuance is providing a copy of prepared remarks in combination with its press release. These remarks are offered to provide shareholders and analysts with additional time and detail for analyzing results in advance of the company’s quarterly conference call. The remarks will be available at http://www.nuance.com/earnings-results/ in conjunction with the press release.

As previously scheduled, the conference call will begin today, August 7, 2012 at 8:30 am EDT and will include only brief comments followed by questions and answers. The prepared remarks will not be read on the call. To access the live broadcast, please visit the Investor Relations section of Nuance’s Website at www.nuance.com. The call can also be heard by dialing (877) 209-9922 or (612) 332-0802 at least five minutes prior to the call and referencing code 254531. A replay will be available within 24 hours of the announcement by dialing (800) 475-6701 or (320) 365-3844 and using the access code 254531.

Nuance Communications, Inc. (NASDAQ: NUAN) is a leading provider of voice and language solutions for businesses and consumers around the world.  Its technologies, applications and services make the user experience more compelling by transforming the way people interact with devices and systems. Every day, millions of users and thousands of businesses experience Nuance’s proven applications. For more information, please visit www.nuance.com.

Trademark reference: Nuance, the Nuance logo, Dragon Medical and eScription are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.