Altair Engineering Q4 Loss Narrows

(RTTNews) - Altair Engineering Inc. (ALTR) reported that its fourth-quarter net loss narrowed to $1.5 million or $0.02 per share, from $9.0 million or $0.13 per share in the fourth quarter of 2018.

Non-GAAP net income per share was $0.09 compared to $0.07 in the prior year.

Total revenue was $123.9 million, an increase of 20% from $103.0 million last year. Non-GAAP total revenue was $126.1 million, an increase of 22% from $103.0 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share and revenues of $109.57 million. Analysts' estimates typically exclude special items.

For the first-quarter, the company projects non-GAAP net income of $11.5 million $12.9 million, and total revenue of $129.0 million - $131.0 million.

Look ahead for 2020, the company expects non-GAAP net income to in the range of $24.7 million - $27.5 million, and total revenues of $491.0 million - $495.0 million.