Aspen Technology Smashed the Street's Earnings Targets (and Next Year Looks Even Better)
Asset-tracking and process management technologist Aspen Technology (NASDAQ: AZPN) is turning heads today. The company was expected to suffer lower sales and dramatically weaker earnings year over year in Wednesday's fourth-quarter earnings report, but Aspen had other ideas. The report crushed Wall Street's expectations across the board and inspired a fairly optimistic set of guidance targets for the new fiscal year, sending share prices 28% higher in Wednesday's after-market trading session.
Your average analyst had expected Aspen's revenue to fall 10% year over year, landing near $177 million. Earnings were seen heading roughly 26% lower to $1.17 per share.
In reality, Aspen's fourth-quarter sales rose 2% to $199 million and the bottom-line drop was a much milder 3%, stopping at earnings of $1.54 per share.
Source Fool.com
