Corrects the headline to say that profit declined rather than increased from last year.
Ultimate Software (ULTI) posted fourth-quarter net income of $0.1 million compared with $0.6 million in the prior year period. On a per share basis, earnings were breakeven per share for the quarter compared with $0.02 per share in the same quarter last year.
On a non-GAAP basis, earnings for the quarter declined to $2.6 million or $0.10 per share from $2.7 million or $0.11 per share in the previous year period. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter was $52.3 million compared with $49.7 million in the year-ago period. Analysts expected revenues of $52.14 million for the quarter.
Looking ahead for the first-quarter, the company expects total revenues of about $55 million and an increase of about 18% for fiscal 2010. Analysts currently expect the company to report first-quarter revenues of $54.35 million.
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