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BEDFORD, Mass. (AP) — BEDFORD, Mass. (AP) — Aspen Technology, Inc. (AZPN) on Tuesday reported fiscal fourth-quarter earnings of $44.7 million.
On a per-share basis, the Bedford, Massachusetts-based company said it had profit of 70 cents. Earnings, adjusted for one-time gains and costs, were $2.37 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.
The software maker posted revenue of $342.9 million in the period.
For the year, the company reported that its loss narrowed to $9.8 million, or 15 cents per share. Revenue was reported as $1.13 billion.
Aspen Technology expects full-year earnings to be $7.47 per share, with revenue expected to be $1.19 billion.
Aspen Technology shares have dropped 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $177.40, a decrease of 6% 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