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TROY, Mich. (AP) — TROY, Mich. (AP) — Altair Engineering Inc. (ALTR) on Thursday reported a first-quarter loss of $2 million, after reporting a profit in the same period a year earlier.
The Troy, Michigan-based company said it had a loss of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 36 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The company posted revenue of $166 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $157.1 million.
For the current quarter ending in June, Altair Engineering said it expects revenue in the range of $138 million to $140 million. Analysts surveyed by Zacks had expected revenue of $150 million.
The company expects full-year revenue in the range of $614 million to $624 million.
Altair Engineering shares have risen 47% since the beginning of the year, while the S&P's 500 index has climbed almost 6%. In the final minutes of trading on Thursday, shares hit $66.89, a climb of 19% 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 ALTR">Zacks stock report on ALTR at https://www.zacks.com/ap/ALTR