Ultimate Software Group, Inc. (ULTI) Tops Q2 EPS by 3c

Ultimate Software Group, Inc. (NASDAQ: ULTI) reported Q2 EPS of $0.46, $0.03 better than the analyst estimate of $0.43. Revenue for the quarter came in at $122 million versus the consensus estimate of $120.2 million.

Ultimate Software Group, Inc. sees Q3 2014 revenue of $127 million, versus the consensus of $127.23 million.

Sees FY 2014 Total revenues to increase by approximately 23% over 2013.

“This year’s second quarter results position us well to achieve our 2014 goals and give us a solid foundation for our future goals. Recurring revenues increased by 26% to $102 million and total revenues by 25% to $122 million, both compared with those in Q2 2013, and our non-GAAP operating margin was on the positive side of our target at 18.7%. At the same time, our customer retention rate continued to remain above 96% for the trailing 12 months ending June 30, 2014,” said Scott Scherr, founder, president, and CEO of Ultimate.

“We are honored by recent recognition we received: Forbes ranking Ultimate #8 on its 2014 list of the ‘Most Innovative Growth Companies’; Great Places to Work ranking us #4 on its list of ‘Ten Great Places to Work for Millennials’; and InformationWeek ranking us #50 on its ‘Elite 100’ list and featuring Ultimate’s platform-as-a-service UCloud in its article, ‘20 Great Ideas to Steal in 2014.’ We are also very pleased that G2 Crowd, the business software review site that ranks companies based upon user comments and social data, has listed Ultimate as a ‘Leader’ in HR Management Software and positioned UltiPro as the highest in customer satisfaction in its quadrant.”

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

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