Altair Engineering: Q3 Earnings Snapshot

TROY, Mich. (AP) — TROY, Mich. (AP) — Altair Engineering Inc. (ALTR) on Thursday reported a loss of $4.4 million in its third quarter.

The Troy, Michigan-based company said it had a loss of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to 14 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The company posted revenue of $134 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $127.5 million.

For the current quarter ending in December, Altair Engineering said it expects revenue in the range of $169 million to $175 million. Analysts surveyed by Zacks had expected revenue of $150 million.

The company expects full-year revenue in the range of $610 million to $616 million.

Altair Engineering shares have climbed 30% since the beginning of the year, while the S&P's 500 index has climbed 12%. In the final minutes of trading on Thursday, shares hit $59.11, a rise of 26% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALTR at https://www.zacks.com/ap/ALTR