Ultimate Software Group, Inc. (NASDAQ:ULTI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Ultimate Software Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 61.9% to $0.34 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 23.14% to $97.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ultimate Software Group, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $97.17 million.
Quoting Management: “Our second quarter revenue results were in line with our expectations and our 2013 goals, and our operating margin once again exceeded our expectations,” said Scott Scherr, founder, president, and CEO of Ultimate. “In June, Ultimate celebrated 15 years as a public company. Over the past 15 years, we have grown from a little over 300 employees to 1,735 at the close of this year’s second quarter. Today we support more than 2,500 businesses whose operations span 144 countries.”
Key Stats (on next page)…
Revenue decreased 0.43% from $97.92 million in the previous quarter. EPS increased 6.25% from $0.32 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.36 to a profit $0.35. For the current year, the average estimate has moved up from a profit of $1.38 to a profit of $1.39 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)