Ultimate Software Group, Inc. (ULTI) reported second-quarter GAAP net income of $2.7 million or $0.09 per share, compared to $0.9 million or $0.03 per share in the same quarter last year.
Non-GAAP net income, which excludes items rose to $5.9 million or $0.21 per share from $3.8 million or $0.14 per share in the comparable quarter last year. On average, seventeen analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share. Analysts' estimates typically exclude special items.
Total revenues for the second quarter were $79.18 million, compared with $64.21 million in the year-ago quarter, while sixteen Wall Street analysts expected revenues of $79.01 million for the period.
Looking forward, to the third quarter, total revenues is estimated to be about $84.0 million, and operating margin, on a non-GAAP basis of about 16%. Analysts expect revenues of $83.74 million for the third quarter.
For fiscal 2012, the company expects operating margin, on a non-GAAP basis, of approximately 15% and total revenue to increase by about 23% over 2011.
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