Aspen Technology, Inc. (AZPN), a provider of software and services to the process industries, announced financial results for its first quarter of fiscal year 2013, ended September 30, 2012. Net income was $4.41 million compared to a loss of $11.74 million prior year. Profit per share was $0.05 compared to a loss of $0.12 prior year. Adjusted net income was $7.26 million or $0.08 per share for the quarter. Total revenue increased to $71.46 million from $51.23 million last year.
Analysts polled by Thomson Reuters expected the company to report profit of $0.02 per share on revenue of $64.99 million for the quarter. Analysts' estimates typically exclude special items.
Mark Fusco, Chief Executive Officer of AspenTech, said, "AspenTech began fiscal 2013 on a strong note, highlighted by mid-teens year-over-year growth in total license contract value. We continue to expand the capabilities of our industry leading aspenONE suite, and believe that we remain well positioned to drive increased product adoption and usage levels over the long-term. At the same time, our focus on expense management contributed to strong growth in profitability and free cash flow generation."
AspenTech also announced that its Board approved a share repurchase program for up to $100 million.
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