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Ultimate Software: 3Q Earnings Snapshot

WESTON, Fla. (AP) _ The Ultimate Software Group Inc. (ULTI) on Tuesday reported third-quarter earnings of $17.1 million. The Weston, Florida-based company said it had profit of 54 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.33 per share. The results topped Wall...

WESTON, Fla. (AP) _ The Ultimate Software Group Inc. (ULTI) on Tuesday reported third-quarter earnings of $17.1 million.

The Weston, Florida-based company said it had profit of 54 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.33 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The cloud-based work force technology company posted revenue of $287.8 million in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $287.4 million.

Ultimate Software shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $272.08, an increase of 38 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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