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Ultimate Software reports 4Q loss

WESTON, Fla. (AP) _ The Ultimate Software Group Inc. (ULTI) on Tuesday reported a fourth-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Weston, Florida-based company said it had a loss of 7 cents. Earnings, adjusted for stock option expense and pretax expenses, came to $1.11 per share.

The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The cloud-based work force technology company posted revenue of $251.4 million in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $244.7 million.

For the year, the company reported profit of $14.1 million, or 46 cents per share. Revenue was reported as $940.7 million.

For the current quarter ending in April, Ultimate Software said it expects revenue in the range of $269 million to $272 million. Analysts surveyed by Zacks had expected revenue of $266.5 million.

Ultimate Software shares have dropped nearly 1 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $216.59, an increase of nearly 10 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 ULTI at https://www.zacks.com/ap/ULTI