Nuance blames $53M in losses on NotPetya attacks in Q4: 4 things to know

Listen

Nuance attributed $53 million in losses during its fourth quarter of 2017 to the NotPetya malware attacks that shook the company this past summer.

The voice and language solutions provider released earnings results for the fourth quarter of its fiscal year 2017 Nov. 28.

Here are four things to know.

1. Nuance reported the cyberattack cost the company $68 million throughout fiscal year 2017.

2. The company posted $465.9 million in revenue during its fourth quarter, which contributed to its $1.939 billion revenue for the year.

3. Net new bookings were down 18 percent year-over-year at $424.4 million. Nuance said it expected such a drop due to record results one year prior.

4. Earnings per share for Nuance in its fourth quarter were $0.23, compared to $0.06 one year prior.

"We emerged from 2017, and this summer's malware incident, as a stronger organization with enhanced security, processes, and infrastructure bolstered by customer trust and demand that we expect will benefit us in fiscal 2018 and beyond," the report reads.

More articles on health IT:

6 little-known ways your hospital may accidentally be violating HIPAA

Northwell Health cuts ribbon on $15M innovation center

IDC Health Insights: 10 health IT predictions for 2018

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Whitepapers

Featured Webinars