BEDFORD, Mass. (AP) _ Aspen Technology Inc. (AZPN) on Wednesday reported fiscal fourth-quarter net income of $97.6 million.
The Bedford, Massachusetts-based company said it had net income of $1.43 per share. Earnings, adjusted for one-time gains and costs, came to $1.54 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The software maker posted revenue of $199.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $176.7 million.
For the year, the company reported profit of $225.7 million, or $3.28 per share. Revenue was reported as $590.2 million.
Aspen Technology expects full-year earnings in the range of $4.78 to $5.32 per share, with revenue in the range of $704 million to $754 million.
Aspen Technology shares have dropped 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $97.71, a decline of 28% in the last 12 months.