Altair Engineering Q4 Earnings Miss Estimates, Revenue Tops Forecasts
Altair Engineering Inc. (ALTR) reported mixed fourth-quarter results on Thursday, with net income falling short of expectations but revenue exceeding estimates.
Earnings:
* Net income of $996,000
* Earnings per share (EPS): 1 cent
* Adjusted EPS: 52 cents
Analysts surveyed by Zacks Investment Research had forecast adjusted EPS of 53 cents.
Revenue:
* Revenue of $192.6 million
* Beat Street estimates of $177.7 million
Annual Results:
For the full year, Altair Engineering reported:
* Net income of $14.2 million
* EPS: 16 cents
* Revenue: $665.8 million
Stock Performance:
* Shares have increased by over 2% since the beginning of the year
* Closed at $111.78 on Thursday, marking a 27% gain over the past 12 months