WESTON, Fla. (AP) _ The Ultimate Software Group Inc. (ULTI) on Monday reported fourth-quarter net income of $13.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Weston, Florida-based company said it had net income of 42 cents. Earnings, adjusted for stock option expense and pretax expenses, were $1.95 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The cloud-based work force technology company posted revenue of $304.8 million in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $300.7 million.
For the year, the company reported profit of $65.1 million, or $2.06 per share. Revenue was reported as $1.14 billion.
Ultimate Software shares have risen 36 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $332.54, an increase of 51 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
