Altair Turns To Profit In Q4

(RTTNews) - Altair (ALTR) reported that its fourth quarter net income was $2.2 million or $0.03 per share compared to net loss of $1.5 million or $0.02 per share for the fourth quarter of 2019.

Non-GAAP net income per share was $0.17, compared to $0.07 last year.

Software product revenue was $113.6 million compared to $101.2 million for the fourth quarter of 2019. Total revenue for the quarter was $133.4 million up from $123.9 million for the fourth quarter of 2019.

Analysts polled by Thomson Reuters expected the company to report break even per share and revenues of $115.81 million for the fourth-quarter. Analysts' estimates typically exclude special items.

For the first-quarter, the company expects net loss to be in the range of $4.5 million - $5.4 million, total revenue of $138.0 million - $140.0 million. Analysts expect revenue of $134.72 million for the first quarter.