Ultimate Software Results Top Estimate, Reaffirms FY Sales Guidance; Stock Up 3%

(RTTNews) - Ultimate Software Group Inc. (ULTI) Tuesday reported third-quarter net earnings of $19.7 million or $0.67 per share compared with $6.3 million or $0.22 per share last year.

Excluding items, adjusted earnings for the quarter were $0.50 per share compared with $0.40 per share a year ago.

Revenues for the quarter were $127.4 million compared with $103 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.49 per share on revenues of $127.1 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the full year 2014, the company still expects revenues to increase about 23% from the prior year, while analysts growth of 23.3%.

For 2015, the company expects revenues to grow 22% year-over-year, while analysts expect growth of 22.7%.

Ultimate Software, based in Weston, Florida, provides cloud-based human capital management solutions.