Aspen Technology Announces Financial Results for the Second Quarter Fiscal Year 2010
Company Approved to Relist on NASDAQ Stock Market
Mark Fusco, Chief Executive Officer of AspenTech, said, "We are
pleased with the company's performance in the second quarter, as
solid transaction flow drove product-related bookings of
approximately $95 million. Within product related bookings, the
license portion was consistent with the year ago period. Early
customer response to our new aspenONE licensing model has been very
favorable, which is driving both renewal activity and expanded
usage with customers across each of our target markets. As we look
to the second half of our fiscal year, customer interest levels
remain high and we are encouraged by the positive impact of our new
aspenONE licensing model on both our competitive position and
long-term market opportunity."
Fusco added, "After bringing our financial statements current
with the filing of our first quarter results and subsequently
filing our second quarter results in a timely manner, we have been
approved to relist the company‘s common stock on the NASDAQ
stock market effective tomorrow morning under the ticker 'AZPN'. We
are excited to complete this process so that investors can focus
exclusively on AspenTech's business performance, strong competitive
position and market opportunity."
AspenTech's total revenue of $42.7 million decreased from $82.6
million in the second quarter of the prior year, due primarily to
the ratable revenue recognition associated with the company's new
aspenONE licensing model.
For the quarter ended December 31, 2009, AspenTech reported a
loss from operations of $29.3 million due primarily to the ratable
revenue recognition associated with the company's new aspenONE
licensing model. For the quarter ended December 31, 2008, the
company reported income from operations of $18.8 million. Net loss
was $30.7 million in the second quarter of fiscal 2010, leading to
net loss per basic and diluted share of $0.34 compared to net
income per diluted share of $0.25 in the same period last year.
AspenTech had a cash balance of $109.4 million at December 31,
2009, compared to $109.0 million at the end of the first quarter of
fiscal 2010. The company did not sell any installments receivable
to raise cash during the second quarter of fiscal 2010 and it
continued to reduce its secured borrowings balance, which was $96.5
million at the end of the quarter, down $12.3 million compared to
$108.8 million at the end of the first quarter of fiscal 2010.
Other Second Quarter Business Metrics
- The company closed 18 product-related bookings of over $1
million during the second quarter, and 57 product related bookings
between $250,000 and $1 million.
- Average deal size for product-related bookings over $100,000 was
$778,000 in the second quarter.
Conference Call and Webcast
AspenTech will host a conference call and webcast today, February
9, at 5:00 p.m. (Eastern Time), to discuss the company's financial
results for the first quarter of fiscal 2010. The live dial-in
number is (877) 245-0126, conference ID code 53424224. Interested
parties may also listen to a live webcast of the call by logging on
to the Investor Relations section of AspenTech's website, http://www.aspentech.com/corporate/investor.cfm,
and clicking on the "webcast" link. A replay of the call will be
archived on AspenTech's website and will also be available via
telephone at (800) 642-1687 or (706) 645-9291, conference ID code
53424224 through February 16, 2010.
AspenTech is a leading supplier of software that optimizes
process manufacturing – for energy, chemicals,
pharmaceuticals, engineering and construction, and other industries
that manufacture and produce products from a chemical process. With
integrated aspenONE solutions, process manufacturers can implement
best practices for optimizing their engineering, manufacturing and
supply chain operations. As a result, AspenTech customers are
better able to increase capacity, improve margins, reduce costs and
become more energy efficient. To see how the world's leading
process manufacturers rely on AspenTech to achieve their
operational excellence goals, visit www.aspentech.com.
The second paragraph of this press release may contain
forward-looking statements for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements relating to the anticipated benefits of
AspenTech's new subscription-based licensing model. Actual results
may vary significantly from AspenTech‘s expectations based on
a number of risks and uncertainties, including, without limitation:
customers' failure to adopt the new AspenONE licensing model at the
rate expected by AspenTech or at all; AspenTech's failure to
realize the anticipated financial and operational benefits of the
new AspenONE licensing model; unforeseen difficulties or
uncertainties in the application of accounting standards;
weaknesses in our internal controls, including our controls over
the recognition of license revenue; and other risk factors
described from time to time in AspenTech's periodic reports filed
with the Securities and Exchange Commission.
AspenTech cannot guarantee any future results, levels of
activity, performance, or achievements. AspenTech expressly
disclaims any current intention to update forward-looking
statements after the date of this press release.
Full financial data available via the pdf link at the
top of the page
Linde Engineering North America Inc. (LENA) Standardizes on AspenTech Estimating and Expands Use of AspenTech Process Safety Software
©1994-2017, Aspen Technology, Inc. All rights reserved.