Aspen Technology Swings To Profit, Shares Surge

(RTTNews) - Aspen Technology Inc. (AZPN), Thursday reported a swing to a profit in the fourth quarter from a loss last year, driven mainly by a 30 percent surge in revenues. Earnings for the quarter easily beat analysts' expectations, as did revenues. Following the news, shares of the software provider surged about 12 percent in the extended trading hours.

Burlington, Massachusetts-based Aspen's fourth-quarter profit rose to $20.4 million or $0.21 per share, compared to a loss of $5.4 million or $0.06 per share last year.

Adjusted earnings were $0.24 per share, compared to a loss of $0.04 per share in the prior year. On average, seven analysts polled by Thomson Reuters expected earnings of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Aspen said its revenues for the quarter grew 30.1 percent to $83.26 million from $64.02 million last year. Seven analysts had a consensus revenue estimate of $78.79 million for the quarter.

Subscription and software revenue rose to $65.2 million from $45.8 million, while services & other revenue dropped slightly to $18.0 million from $18.2 million last year.

AZPN closed Thursday at $31.82, down $1.29 or 3.90%, on the Nasdaq. The stock, however, gained $3.25 or 10.21% in after-hours trade.