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28 February, 2024 17:47 IST
Pegasystems first-quarter profit jumps 159.82 percent on a YOY basis
Source: IRIS | 11 May, 2017, 06.46PM

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Pegasystems Inc. (PEGA) has reported an 159.82 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $27.02 million, or $0.33 a share in the quarter, compared with $10.40 million, or $0.13 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $31.94 million, or $0.39 a share compared with $17.80 million or $0.22 a share, a year ago.

Revenue during the quarter grew 24.82 percent to $223.25 million from $178.86 million in the previous year period. Gross margin for the quarter expanded 110 basis points over the previous year period to 69.50 percent. Total expenses were 86.01 percent of quarterly revenues, down from 92.10 percent for the same period last year. This has led to an improvement of 610 basis points in operating margin to 13.99 percent.

Operating income for the quarter was $31.24 million, compared with $14.12 million in the previous year period.

However, the adjusted operating income for the quarter stood at $46.95 million compared to $27.20 million in the prior year period. At the same time, adjusted operating margin improved 582 basis points in the quarter to 21.03 percent from 15.21 percent in the last year period.

"We got off to a strong start in 2017," said Alan Trefler, founder and chief executive officer , Pegasystems, "and we’re happy with our performance globally. Most importantly we continue to see our clients achieving unprecedented business outcomes through the use of our software."


Operating cash flow improves significantly
Pegasystems Inc. has generated cash of $32.44 million from operating activities during the quarter, up 223.15 percent or $22.40 million, when compared with the last year period.

The company has spent $3.73 million cash to meet investing activities during the quarter as against cash inflow of $9.37 million in the last year period.

The company has spent $15.99 million cash to carry out financing activities during the quarter as against cash outgo of $19.82 million in the last year period.


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