RTTNews | Aug 13, 2020 10:47AM EDT

10:47 Thursday, August 13, 2020 (RTTNews.com) - Shares of asset optimization software company, Aspen Technology, Inc. (AZPN) are rising more than 30% Thursday morning on upbeat fourth-quarter results. The company also provided full-year outlook, better than the Street's view.

Aspen reported adjusted earnings of $1.54 per share, for the quarter, beating the average estimate of analysts polled by Thomson Reuters at $1.17 per share.

Revenue for the quarter increased to $199.33 million from $195.77 million in the same quarter a year ago.

For the full-year, the company expects total revenue to be in the range of $704 million to $754 million and adjusted earnings to be between $4.78 and $5.32. The consensus estimate for earnings is at $3.64 per share on revenues of $600.43 million.

AZPN is currently trading at $128.59. It has traded in the range of $73.07- $142.89 in the last one year.

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