BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Cerence Inc. (CRNC) on Monday reported a loss of $11.6 million in its fiscal fourth quarter.
On a per-share basis, the Burlington, Massachusetts-based company said it had a loss of 29 cents. Earnings, adjusted for stock option expense and pretax expenses, came to 9 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The automotive artificial intelligence developer posted revenue of $80.8 million in the period.
For the year, the company reported a loss of $56.3 million, or $1.40 per share. Revenue was reported as $294.5 million.
For the current quarter ending in December, Cerence expects its per-share earnings to range from 84 cents to 92 cents.
The company said it expects revenue in the range of $128 million to $132 million for the fiscal first quarter.
Cerence expects full-year earnings in the range of $1.29 to $1.59 per share, with revenue ranging from $355 million to $375 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRNC at https://www.zacks.com/ap/CRNC
