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Aspen Technology Posts Wider-Than-Expected Q4 Loss - Quick Facts

(RTTNews) - Software provider Aspen Technology Inc. (AZPN) Thursday reported a loss for the fourth quarter, against last year's loss, reflecting a plunge in revenues primarily due to ratable revenue recognition associated with its new aspenONE licensing model.

The company's fourth quarter net loss was $34.0 million or $0.37 per share, compared to net income of $0.11 per share in the same period last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue declined to $38.2 million from $71.3 million in the prior year, due primarily to the ratable revenue recognition associated with the company's new aspenONE licensing model. Analysts estimated revenues of $44.81 million for the quarter.

Chief Executive Officer Mark Fusco said, "----strong growth in our customer relationships during the fourth quarter contributed to double digit full year growth in the license portion of our total contract value during fiscal 2010. This reflects the underlying growth of our business, and we are optimistic that AspenTech is well positioned to continue growing its over a billion dollar total contract value in fiscal 2011 and beyond."

Aspen Technology's Billings backlog was $389 million at the end of the fourth quarter.