BEDFORD, Mass. (AP) — BEDFORD, Mass. (AP) — Aspen Technology, Inc. (AZPN) on Monday reported a loss of $34.5 million in its fiscal first quarter.
On a per-share basis, the Bedford, Massachusetts-based company said it had a loss of 54 cents. Earnings, adjusted for one-time gains and costs, came to $1.16 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The software maker posted revenue of $249.3 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $258.3 million.
Aspen Technology expects full-year earnings to be $6.57 per share, with revenue expected to be $1.12 billion.
Aspen Technology shares have dropped 16% since the beginning of the year. In the final minutes of trading on Monday, shares hit $171.72, a decline of 26% 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
