After the market closed on Tuesday, Ultimate Software, which provides human resource software solutions, reported second-quarter profit of $6.4 million or $0.22 per share, up from $4.9 million or $0.17 per share in the same period last year.
Adjusted earnings for the quarter were $13.4 million or $0.46 per share for the quarter. On average, 20 analysts polled by Thomson Reuters expected the company to earn $0.43 per share for the quarter. Analysts' estimates typically exclude special items. Revenues increased to $122.0 million from $97.47 million last year. Analysts expected revenues of $120.20 million.
Looking ahead, the Weston-based company has forecast revenues of about $127 million in the third quarter, matching analyst expectations.