Altair Engineering: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

TROY, Mich. (AP) _ Altair Engineering Inc. (ALTR) on Thursday reported a loss of $8.5 million in its third quarter.

The Troy, Michigan-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, were less than 1 cent on a per-share basis.

The company posted revenue of $106.5 million in the period.

For the current quarter ending in December, Altair Engineering said it expects revenue in the range of $95 million to $99 million. Analysts surveyed by Zacks had expected revenue of $98 million.

The company expects full-year revenue in the range of $373 million to $377 million.

Altair Engineering shares have climbed 32% since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 9%. In the final minutes of trading on Thursday, shares hit $47.49, a rise of 25% 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 ALTR at https://www.zacks.com/ap/ALTR