Pegasystems: 4Q Earnings Snapshot

CAMBRIDGE, Mass. (AP) _ Pegasystems Inc. (PEGA) on Wednesday reported fourth-quarter net income of $16.4 million, after reporting a loss in the same period a year earlier.

The Cambridge, Massachusetts-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 36 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The business software company posted revenue of $256.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $251.9 million.

For the year, the company reported profit of $10.6 million, or 13 cents per share. Revenue was reported as $891.6 million.

Pegasystems expects full-year earnings to be 50 cents per share, with revenue expected to be $965 million.

Pegasystems shares have increased 24 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.42, an increase of 15 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 PEGA at https://www.zacks.com/ap/PEGA