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Aspen Technology: Fiscal 1Q Earnings Snapshot

Aspen Technology: Fiscal 1Q Earnings Snapshot

BEDFORD, Mass. (AP) _ Aspen Technology Inc. (AZPN) on Wednesday reported fiscal first-quarter profit of $38.1 million.

The Bedford, Massachusetts-based company said it had net income of 53 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 64 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The software maker posted revenue of $114.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $113.5 million.

Aspen Technology shares have risen 43 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $94.44, an increase of 43 percent 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

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