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Ultimate Software: 2Q Earnings Snapshot

July 31, 2018

WESTON, Fla. (AP) _ The Ultimate Software Group Inc. (ULTI) on Tuesday reported second-quarter net income of $13.7 million.

On a per-share basis, the Weston, Florida-based company said it had profit of 44 cents. Earnings, adjusted for one-time gains and costs, were $1.32 per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The cloud-based work force technology company posted revenue of $271.2 million in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $268.8 million.

For the current quarter ending in October, Ultimate Software said it expects revenue in the range of $286 million to $288 million. Analysts surveyed by Zacks had expected revenue of $278.5 million.

Ultimate Software shares have climbed 27 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $276.84, a rise of 23 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ULTI at https://www.zacks.com/ap/ULTI

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