AP NEWS

Aspen Technology: Fiscal 1Q Earnings Snapshot

October 30, 2019

BEDFORD, Mass. (AP) _ Aspen Technology Inc. (AZPN) on Wednesday reported fiscal first-quarter earnings of $46.3 million.

On a per-share basis, the Bedford, Massachusetts-based company said it had profit of 67 cents. Earnings, adjusted for one-time gains and costs, came to 79 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The software maker posted revenue of $134.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $119.9 million.

Aspen Technology expects full-year earnings in the range of $3.47 to $3.89 per share, with revenue in the range of $575 million to $615 million.

Aspen Technology shares have climbed 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $118.61, a rise of 45% in the last 12 months.

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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 AZPN at https://www.zacks.com/ap/AZPN