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August 22. 2012 10:57PM
Apsen Technology reports $13.8 million loss for the year
NASHUA — Aspen Technology, a software firm that recently expanded into Nashua, says it finished the year strong despite a net loss of about $13.8 million for the fiscal year ending June 30, the company said Tuesday.
“The company exceeded its fiscal 2012 guidance for each of its key financial metrics, including growth in total license contract value, free cash flow and expense management,” Mark Fusco, CEO, said in a statement.
For the 2012 fiscal year, AspenTech reported a net loss of $13.8 million, leading to a net loss per diluted share of 15 cents, compared to the net income per basic and diluted share of 11 cents for the 2011 fiscal year.
However, the company stressed that its net income for 2011 was positively impacted by a $54 million net tax benefit primarily related to a valuation reversal against its deferred tax assets, according to a release.
AspenTech’s total revenue of $243.1 million increased about 23 percent from the prior year when it was calculated at $198.2 million. In addition, the subscription and software revenue was $166.7 million, an increase from $103.7 million the year prior, the company said.
“Our aspenONE subscription software offering continues to gain traction in the market, and we have a significant opportunity to drive increased product adoption and usage levels over the long term,” Fusco said.
AspenTech had a cash balance of $165.2 million at the end of June, a decrease of $17.3 million from the end of the prior quarter after using $14 million in cash to repurchase shares of common stock and reducing secured borrowings by $22.6 million, according to information provided by the company.
Aspen Technology, headquartered in Burlington, Mass., is leasing about 41,000-square feet of office space in Nashua at 100 Innovation Way. Workers are expected to begin operations from the new facility in a few weeks, according to management.
The company produces products for industries throughout the world, including chemical, petroleum, pharmaceutical, engineering and construction.
Kimberly Houghton may be reached at khoughton@newstote.com.
“The company exceeded its fiscal 2012 guidance for each of its key financial metrics, including growth in total license contract value, free cash flow and expense management,” Mark Fusco, CEO, said in a statement.
For the 2012 fiscal year, AspenTech reported a net loss of $13.8 million, leading to a net loss per diluted share of 15 cents, compared to the net income per basic and diluted share of 11 cents for the 2011 fiscal year.
However, the company stressed that its net income for 2011 was positively impacted by a $54 million net tax benefit primarily related to a valuation reversal against its deferred tax assets, according to a release.
AspenTech’s total revenue of $243.1 million increased about 23 percent from the prior year when it was calculated at $198.2 million. In addition, the subscription and software revenue was $166.7 million, an increase from $103.7 million the year prior, the company said.
“Our aspenONE subscription software offering continues to gain traction in the market, and we have a significant opportunity to drive increased product adoption and usage levels over the long term,” Fusco said.
AspenTech had a cash balance of $165.2 million at the end of June, a decrease of $17.3 million from the end of the prior quarter after using $14 million in cash to repurchase shares of common stock and reducing secured borrowings by $22.6 million, according to information provided by the company.
Aspen Technology, headquartered in Burlington, Mass., is leasing about 41,000-square feet of office space in Nashua at 100 Innovation Way. Workers are expected to begin operations from the new facility in a few weeks, according to management.
The company produces products for industries throughout the world, including chemical, petroleum, pharmaceutical, engineering and construction.
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Kimberly Houghton may be reached at khoughton@newstote.com.