BMC Software Inc. (BMC) Tuesday reported a decline in profit for the first quarter, due mainly to higher operating expenses.
The Houston, Texas-based company's first-quarter net profit was $54.1 million or $0.33 per share, compared to $95.7 million or $0.53 per share last year.
Adjusted income for the quarter dropped to $105.9 million or $0.65 per share from $129.3 million or $0.72 per share in the prior-year quarter. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $504.4 million from $502.4 million in the prior-year quarter. Twelve analysts had a consensus revenue estimate of $521.79 million for the quarter.
For the quarter, total operating expenses increased to $430.5 million from $387.3 million in the year-ago quarter.
Looking ahead, the company continues to expects fiscal 2013 adjusted earnings in the range of $3.49 to $3.59 per share. Analysts currently expect the company to earn $3.51 per share for the year.
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