Pegasystems posts higher 1st-quarter profit
Pegasystems Inc. said Tuesday its profit grew in the first quarter as the business software maker's sales increased 36 percent versus a year ago.
The results topped expectations and Pegasystems' shares jumped in extended trading.
The company reported net income of $4.7 million, or 12 cents a share, for the three months ended March 31. That compares with net income of $3.9 million, or 10 cents a share, in the same period last year.
Excluding special items, Pegasystems' earnings amounted to 25 cents a share.
On that basis, the company's results beat analysts' consensus estimate for a profit of 16 cents a share, according to FactSet.
Revenue grew to $102.4 million, up from $75.1 million a year earlier, with Pegasystems' software license, maintenance and professional services segments all posting increases. Analysts were anticipating revenue of $95.4 million.
Pegasystems' shares gained $3.23, or 8.8 percent, to $40 in aftermarket trading. The shares added $1.54, or 4.4 percent, to $36.77 during the regular session.