Altair Engineering: Q4 Earnings Snapshot

TROY, Mich. (AP) — TROY, Mich. (AP) — Altair Engineering Inc. (ALTR) on Thursday reported fourth-quarter earnings of $19.7 million.

On a per-share basis, the Troy, Michigan-based company said it had net income of 22 cents. Earnings, adjusted for one-time gains and costs, were 46 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The company posted revenue of $171.5 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $172.5 million.

For the year, the company reported that its loss narrowed to $8.9 million, or 11 cents per share. Revenue was reported as $612.7 million.

For the current quarter ending in March, Altair Engineering said it expects revenue in the range of $167 million to $170 million.

The company expects full-year revenue in the range of $663 million to $673 million.

Altair Engineering shares have risen almost 7% since the beginning of the year, while the S&P's 500 index has risen nearly 7%. In the final minutes of trading on Thursday, shares hit $89.86, a rise of 64% 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 ALTR at https://www.zacks.com/ap/ALTR