Ultimate Software Group, Inc. (ULTI) Tops Q4 EPS by 9c

Ultimate Software Group, Inc. (NASDAQ: ULTI) reported Q4 EPS of $0.68, $0.09 better than the analyst estimate of $0.59. Revenue for the quarter came in at $135.4 million versus the consensus estimate of $135.4 million.

“In 2014, we executed on our growth strategy as planned and achieved all of our key objectives. We posted $506 million in total revenues for 2014, a 23% increase over 2013. We increased recurring revenues by 25% versus 2013 and delivered a non-GAAP operating margin of 20%. We continued our track record of 96% customer retention, and we grew the number of people records in our cloud to more than 19 million,” said Scott Scherr, CEO, president, and founder of Ultimate Software. “These results position us well to achieve our 2015 goal of surpassing $600 million in revenues.

“We were honored in January this year to be recognized, for the third year in a row, by Achievers as one of the 50 Most Engaged Workplaces in North America. This award reflects the core belief we’ve had at Ultimate since its inception: Talented, engaged people create an innovative, high-performance culture that results in industry-leading products and services.”

Financial Outlook

Ultimate provides the following financial guidance for 2015:

For the first quarter of 2015:

• Recurring revenues of approximately $119 million,
• Total revenues of approximately $145 million, and
• Operating margin, on a non-GAAP basis (discussed below), of approximately 18%.

For the year 2015:

• Recurring revenues to increase by approximately 23% over 2014,
• Total revenues to increase by approximately 22% over 2014, and
• Operating margin, on a non-GAAP basis (discussed below), in excess of 20%.

For earnings history and earnings-related data on Ultimate Software Group, Inc. (ULTI) click here.

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