Altair Engineering Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Altair Engineering Inc. (ALTR) reported a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $19.7 million, or $0.22 per share. This compares with $12.1 million, or $0.14 per share, in last year's fourth quarter.

Excluding items, Altair Engineering Inc. reported adjusted earnings of $41.1 million or $0.46 per share for the period.

Analysts on average had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.9% to $171.5 million from $160.4 million last year.

Altair Engineering Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $19.7 Mln. vs. $12.1 Mln. last year. -EPS (Q4): $0.22 vs. $0.14 last year. -Analyst Estimate: $0.41 -Revenue (Q4): $171.5 Mln vs. $160.4 Mln last year.

-Guidance: Next quarter revenue guidance: $167-$170 mln