Aspen Technology Posts First-Quarter Loss but Beats Estimates
Steve McVey - October 26, 1999

Event Summary

Aspen Technology recently announced a shortfall in earnings for the period ended September 30, 1999, although it exceeded analysts' expectations. Total revenues for the company were $53 million, of which $21.5 million were derived from software licenses and the remainder from services and support. Net loss for the quarter was $4.1 million, or $0.11 per share. CEO Larry Evans attributes the loss to industry pressures and consolidation within its target markets...