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Pegasystems posts higher 1st-quarter profit

Tue, 05/10/2011 - 5:05pm
The Associated Press

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.

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