Pegasystems Inc.'s (PEGA) net income for the fourth quarter of 2012 was $20.4 million, or $0.53 per share, compared to net loss of $1.9 million or $0.05 per share, for the fourth quarter of 2011.
On a Non-GAAP basis, net income for the latest-quarter was $25.20 million or $0.65 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $143.83 million from $115.29 million in the prior year quarter. Six analysts had consensus revenue estimate of $122.58 million for the quarter.
"Our uniquely unified BPM and CRM offering continued to resonate globally as we achieved record bookings in the fourth quarter from both new and existing clients who deepened and broadened their commitments to Pega. We gained important new name customers in the public sector, as well as two of the world's top five global insurance companies. In addition to the 18% license revenue growth for 2012, our deepening relationships with customers added over $45 million to our license backlog," said Alan Trefler, Founder and CEO.
For 2013, the anticipates revenues of $510 million and net income of approximately $33.2 million or $0.83 per share on a GAAP basis, and $48.1 million or $1.20 per share on a Non-GAAP basis. Analysts expect the company to report earnings of $0.90 per share on revenues of $479.15 million for fiscal 2013.
The company expects 2013 will be back-end loaded, and therefore revenue for the first half of 2013 is anticipated to be about 45% of annual guidance.
PEGA closed Wednesday's trading at $25.33, up $1.50 or 6.29%. The stock, further, gained $4.49 or 17.73% in after hours trade.
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