Key Developments: Aspen Technology Inc (AZPN.O)
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18 Jun 2013
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Latest Key Developments (Source: Significant Developments)
Aspen Technology Inc Announces CEO Transition Plan
Aspen Technology Inc announced an executive transition plan to take place over the next two quarters. Antonio Pietri, currently AspenTech`s Executive Vice President of Worldwide Field Operations, will become the Company`s President and Chief Executive Officer(CEO), effective October 1, 2013. Mark Fusco will continue to serve as the Company`s President and CEO during this transition period, after which time he will be retiring to spend more time with his family. Full Article
Aspen Technology Inc Raises FY 2013 Guidance; Issues Q4 2013 Revenue Guidance Below Analysts' Estimates; Issues Q4 2013 Mixed Earnings Guidance-Conference Call
Aspen Technology Inc announced that it is raising fiscal 2013 revenue guidance to approximately $305 million to $308 million, which is above the prior guidance of $295 million to $302 million, the Company now expect GAAP operating income of approximately $48 million to $50 million, which is an improvement from the prior guidance of $31 million to $38 million, as well as from an operating loss of $15 million for fiscal 2012. Or updated forecast for GAAP net income is approximately $29.5 million to $30.5 million, or $0.31 to $0.32 per share, which is an improvement from prior guidance of $0.18 to $0.22. From a non-GAAP perspective, the Company now targeting non-GAAP operating income of approximately $63.5 million to $65.5 million, which is an improvement compared to prior guidance of non-GAAP operating income of $46 million to $53 million and now expect non-GAAP income per share of $0.41 to $0.42. For the fourth quarter of 2013, the Company expect revenue of approximately $77 million to $80 million, non-GAAP operating income of $11.5 million to $13.5 million, and non-GAAP EPS of $0.07 to $0.08. On a GAAP basis, the Company expects operating income of $8 million to $10 million, and EPS of $0.04 to $0.06. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $302 million, EBIT of $27.32 million, EPS of $0.22 for fiscal 2013; revenue of $83 million, EBIT of $13.5 million and EPS of $0.09 for the fourth quarter of 2013. Full Article
Aspen Technology Inc Acquires Pipeline Scheduling and Dock Scheduling Software
Aspen Technology Inc announced it has acquired Pipeline Scheduling System ("PSS") and Dock Scheduling System ("DSS") software from Refining Advantage, Inc. PSS is a pipeline scheduling tool that enables pipeline companies, refineries and terminals with pipelines to optimize their pipeline schedules and improve profitability and safety. DSS is used by refineries and terminals to schedule their docks, enabling them to save on demurrage costs that are incurred due to delays in on-loading or off-loading cargo. Terms of the transaction were not disclosed. Full Article
Aspen Technology Inc Announces Appointment Of Chairman-Form 8-K
Aspen Technology Inc reported in its Form 8-K that Stephen M. Jennings has resigned from the Company’s Board of Directors. The full text of the Company’s press release announcing the resignation of Mr. Jennings as a Director, and the Board’s election of Robert M. Whelan, Jr. as Chairman of the Board,. Full Article
Aspen Technology Inc Issues Q3 2013 Guidance In Line With Analysts' Estimates; Raises FY 2013 Guidance-Conference Call
Aspen Technology Inc announced that for the third quarter of 2013, it expects revenue in the range of $71 million to $74 million and non-GAAP operating income of $6.5 million to $8.5 million and non-GAAP EPS of $0.04 to $0.05. On a GAAP basis the Company expect operating income of $3 million to $5 million and EPS of $0.01 to $0.02. For fiscal 2013, it is increasing revenue guidance to $295 million to $302 million, an increase from previous target of $285 million to $295 million , non-GAAP operating income guidance to $46 million to $53 million, up from prior guidance of $36 million to $46 million and non-GAAP earnings per share (EPS) in the range of $0.28 to $0.33, an increase from $0.21 to $0.27. The Company expect GAAP operating income in the range of $31 million to $38 million, which is an increase from prior guidance of $20 million to $30 million and GAAP net income of approximately $17 million to $21 million or $0.18 to $0.22 per share, which is an increase versus prior expectation of net income of $10 million to $16 million or $0.10 to $0.17 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $73 million, EBIT of $7.4 million, EPS of $0.05 for the third quarter of 2013; and revenues of $299 million, EBIT of $47 million, EPS of $0.32 for fiscal 2013. Full Article
Aspen Technology Inc Issues Q2 2013 Mixed Guidance; Raises FY 2013 Guidance-Conference Call
Aspen Technology Inc announced that for the second quarter of 2013, it expects revenue in the range of $66 million to $68 million, non-GAAP operating income of $6.5 million to $8.5 million, and non-GAAP earnings per share (EPS) of $0.04 to $0.05. For fiscal 2013, it is increasing revenue guidance to $285 million to $295 million, an increase from the previous target of $280 million to $290 million. It is increasing non-GAAP operating income guidance to $36 million to $46 million for fiscal 2013, up from prior guidance of $20 million to $30 million. This would lead to non-GAAP earnings per share in the range of $0.21 to $0.27 for the fiscal year, an increase from $0.16 to $0.21. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $70 million, EBIT of $6.35, EPS of $0.04 for the second quarter of 2013; and revenues of $291 million, EBIT of $26 million, EPS of $0.23 for fiscal 2013. Full Article
Aspen Technology Inc Announces $100 Million Share Repurchase Program
Aspen Technology Inc announced that its Board of Directors has approved a $100 million share repurchase program. This replaces the prior share repurchase program, which had approximately $49 million of remaining capacity as of the end of the first quarter. Full Article
Aspen Technology Inc Issues Q1, FY 2013 Guidance; Q1 2013 Earnings Guidance Above Analysts' Estimates-Conference Call
Aspen Technology Inc announced that for the first quarter of 2013, it expects revenue in the range of $64 million to $66 million, non-GAAP operating income of $4 million to $6 million and non-GAAP EPS of $0.01 to $0.02. On a GAAP basis, it expects operating income of negative $500,000 to positive $1.5 million and a loss per share of $0.01 to $0.02. For fiscal 2013, it is continuing to target revenue of $280 million to $290 million, and expect GAAP operating income in the range of $5 million to $15 million and expect GAAP net income of approximately $5 million to $10 million or $0.05 to $0.10 per share. From a non-GAAP perspective, we currently expect non-GAAP operating income in the range of $20 million to $30 million and this lead to non-GAAP earnings per share in the range of $0.16 to $0.21. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $65 million, EBIT of $(1.03) million and EPS of $0.00 for the first quarter of 2013. Full Article
Final Judgment and Permanent Injunction Entered Against M3 Technology in Favor of Aspen Technology, Inc.
Aspen Technology, Inc. announced that a final judgment and permanent injunction was entered on June 6, 2012, in favor of AspenTech in its trade secret misappropriation, copyright infringement and tortious interference action against M3 Technology, Inc. in the United States District Court for the Southern District of Texas. The permanent injunction prohibits M3 Technology from using, marketing, selling, distributing, licensing, modifying, servicing, copying, or offering for sale or license the following products: SIMTO Scheduling/M-Blend/Global (versions 6.0, 6.1, 6.2, 6.3, 6.4, 6.5, 6.6, 6.7, 7.0, 7.1, 7.2, 8.0); SIMTO Scheduling/M-Blend (versions 3.6, 4.0, 4.5, 4.6, 4.8, 4.9, 5.0); SIMTO Scheduling (versions 1.0, 2.0, 2.3, 3.0); and SIMTO Distribution In addition, M3 Technology was ordered to pay Aspen Technology the sum of $11,346,329 in damages. Full Article
Aspen Technology, Inc. Raises FY 2012 Guidance; Issues Q4 2012 Guidance In Line With Analysts' Estimates-Conference Call
Aspen Technology, Inc. announced raising its fiscal 2012 revenue guidance to approximately $240 million to $242 million, which is above its prior guidance of $235 million to $240 million. GAAP operating loss is approximately $18.5 million to $20.5 million, which is an improvement from its prior guidance of an operating loss of $23 million to $33 million. The Company's updated forecast is for a GAAP net loss of approximately $14.5 million to $16.5 million, or a loss of $0.16 to $0.18 per share, which is an improvement from its prior guidance of a loss of $0.21 to $0.32. From a non-GAAP perspective, the Company is now targeting a non-GAAP operating loss (EBIT) of approximately $6 million to $8 million, which is an improvement compared to its prior guidance of a non-GAAP operating loss of $13 million to $23 million. The Company now expect a non-GAAP loss per share (EPS) of $0.06 to $0.08. For the fourth quarter of 2012, the Company expects revenue of approximately $61 million to $63 million, GAAP operating loss in a range of $7 million to $9 million and non-GAAP operating loss of approximately $4 million to $6 million. According to I/BE/S Estimates, analysts on an average were expecting the Company to report revenue of $239 million, EBIT of $(19) million and EPS of $(0.13) for fiscal 2012; and revenue of $63 million and EBIT of $(5) million for the fourth quarter of 2012. Full Article
UPDATE 1-GSK negotiating $1 bln sale of thrombosis drugs to Aspen
* Aspen offers to buy Arixtra and Fraxiparine, plus factory
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