Aspen Technology, Inc. Provides Earnings Guidance for the Third Quarter of 2016 and Revises Earnings Guidance for the Fiscal 2017
The company is increasing free cash flow guidance to $165 million to $170 million for the year from its previous guidance of $160 million to $165 million. With respect to annual spend, it is maintaining guidance of 3% to 6% annual spend growth in fiscal 2017. The company is updating revenue guidance to $473 million to $477 million, which compares to previous guidance of $470 million to $477 million. It expects GAAP operating income in the range of $201 million to $206 million, net income in the range of $127 million to $131 million, and GAAP EPS of $1.63 to $1.67 per share. This compares to previous guidance of GAAP operating income of $199 million to $206 million, net income of $126 million to $131 million, and GAAP EPS of $1.58 to $1.64 per share. From a non-GAAP perspective, the company now expects non-GAAP operating income in the range of $218 million to $224 million, which is up from previous guidance of $217 million to $224 million for the full year fiscal 2017. This will lead to non-GAAP earnings per share in the range of $1.79 to $1.83, which is an increase from previous guidance of $1.73 to $1.78 per share for the fiscal year.