Product category: Design and Development Software
News Release from: ScanSoft United Kingdom
Edited by the Electronicstalk Editorial Team on 2 March 2004
"Solid" revenue growth for ScanSoft
ScanSoft has published financial results for the fourth quarter and full year ended 31st December 2003
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ScanSoft has announced financial results for the first fiscal quarter of 2005 ended 31st December 2004
ScanSoft reported fourth quarter 2003 revenue of $46.9 million, a 65% increase over fourth quarter 2002 revenue of $28.4 million. Net income before amortisation of acquisition-related intangible assets, restructuring charges and non-cash stock compensation was $6.0 million, or $0.05 per diluted share, compared with $6.7 million, or $0.09 per diluted share, for the fourth quarter of 2002.
After including amortisation of acquisition-related intangible assets, restructuring charges and non-cash stock compensation, ScanSoft reported fourth quarter 2003 net income of $1.3 million, or $0.01 per diluted share, compared with fourth quarter 2002 net income of $4.4 million, or $0.06 per diluted share.
For the year ended 31st December 2003, ScanSoft reported total revenue of $135.4 million, up 27% from revenue of $106.6 million in 2002.
Net income before amortisation of acquisition-related intangible assets, restructuring charges and non-cash stock compensation was $11.3 million, or $0.12 per diluted share, versus $18.6 million, or $0.26 per diluted share, for 2002.
Further reading
Speech recognition solution keeps hands free
Cullmann has selected the ScanSoft VoCon speech recognition solution to speech-enable a new modular and cordless universal hands-free kit for mobile telephones
Acquisitions expand speech capabilities
ScanSoft has made a series of strategic acquisitions that significantly expand its speech capabilities and resources
After including amortisation of acquisition-related intangible assets, restructuring charges and non-cash stock compensation, ScanSoft reported a net loss of $5.5 million, or $0.07 per diluted share, for 2003 compared with net income of $6.3 million, or $0.09, for 2002.
"ScanSoft achieved solid revenue growth in the fourth quarter, driven by strong performance across all business segments", said Paul Ricci, Chairman and CEO of ScanSoft.
"Our results reflected significant progress in the SpeechWorks integration and strong performance by our channel partners, resulting in continued momentum in our network and embedded speech businesses.
In addition, key new product launches in our productivity applications revitalised our imaging business".
"2003 was a year of important accomplishment for ScanSoft and one that provided a strategic and operational foundation for the future", Ricci continued.
"Our employees continue to drive innovation and improve our competitive position such that we look forward to 2004 with a unified vision and plan for success in the exciting markets for speech and imaging solutions worldwide".
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