Altair Engineering (ALTR) Tops Q1 EPS by 2c

May 14, 2018 4:09 PM EDT

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Altair Engineering (NASDAQ: ALTR) reported Q1 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $91.7 million versus the consensus estimate of $86.9 million.

“Altair started 2018 with a strong financial performance highlighted by software product revenuegrowth of 26% and profitability that exceeded expectations,” said James Scapa, Founder, Chairman and CEO. “Our performance in the first quarter reflects good execution, improving market dynamics and the positive impact of the investments we have made to strengthen our product portfolio and go-to-market team.”

Scapa continued, “We have further enhanced our solution set with the recent acquisitions of CANDI, which extends our capabilities around edge gateway computing and the Internet of Things, and FluiDyna, a developer of GPU-based fluid dynamics and numerical simulation technologies. These are exciting technologies that increase the value Altair can deliver for customers and exemplify our expanding number of opportunities for future growth.”

For earnings history and earnings-related data on Altair Engineering (ALTR) click here.

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