Altair Engineering Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Altair Engineering Inc. (ALTR) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $11.5 million, or $0.13 per share. This compares with $14.4 million, or $0.18 per share, in last year's first quarter.

Excluding items, Altair Engineering Inc. reported adjusted earnings of $32.9 million or $0.38 per share for the period.

Analysts on average had expected the company to earn $0.3 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.4% to $159.8 million from $150.2 million last year.

Altair Engineering Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $11.5 Mln. vs. $14.4 Mln. last year. -EPS (Q1): $0.13 vs. $0.18 last year. -Analyst Estimates: $0.3 -Revenue (Q1): $159.8 Mln vs. $150.2 Mln last year.

-Guidance: Next quarter EPS guidance: -$17.1-$19 Mln Next quarter revenue guidance: $128-$131 Mln Full year EPS guidance: $568-$582 Mln Full year revenue guidance: $67.5-$73.4 Mln