Ultimate Software (ULTI) Tuesday reported first-quarter profit of $4.5 million or $0.16 per share, up from $1.0 million or $0.04 per share in the same period last year.
Adjusted earnings for the quarter was $9.2 million, or $0.32 per diluted share. On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues totaled $97.9 million, up from $78.28 million last year. Analysts expected revenues of $97.92 million. Recurring revenues increased 28 percent to $78.1 million from $60.87 million last year.
Looking ahead to the second quarter, the company projects total revenues of about $97.0 million, with recurring revenues of approximately $81.0 million. Analysts currently expect second-quarter revenues of $98.26 million.
For the fiscal year 2013, the company anticipates total revenues and recurring revenues to grow by 23 percent and 25 percent, respectively, over last year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.