Aspen Technology Announces Date of Conference Call and Webcast to Discuss Selected First-Quarter Fiscal 2021 Financial Results
Aspen Technology, Inc. (NASDAQ:AZPN) announced it will release selected financial results for Q1 fiscal 2021 on November 5, 2020, after market close. This will include preliminary Annual Spend, cash, and total debt figures as of September 30, 2020. The full financial results are delayed due to additional time needed for filing its 2020 Form 10-K, impacted by errors in prior fiscal year adjustments related to revenue recognition standards. However, the company does not expect these errors to significantly affect previously reported financials.
- None.
- Delay in releasing full financial results due to filing issues with Form 10-K.
- Errors identified in prior fiscal year adjustments related to revenue recognition could signal potential issues with financial reporting.
BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced that it will release selected financial results for its first-quarter fiscal 2021, ended September 30, 2020, and provide commentary on its business outlook after the U.S. financial markets close on Thursday, November 5, 2020. The selected financial results will include preliminary Annual Spend, cash and cash equivalents and total debt as of September 30, 2020.
The Company will be delaying the release of its full financial results for the first fiscal quarter due to the additional time needed to complete the process of filing its Annual Report on Form 10-K for the fiscal year ended June 30, 2020. On September 1, 2020, AspenTech filed a notification with the Securities and Exchange Commission on Form 12b 25 of its inability to timely file the 2020 Form 10-K due to AspenTech’s need for additional time to complete its procedures to finalize the 2020 Form 10-K, which has taken longer than anticipated as a result of additional errors identified by AspenTech in the transition adjustment recorded in the prior fiscal year related to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“Topic 606”). Based on what is known today, the Company does not expect the errors to be material to its previously reported financial information.
AspenTech will host a conference call and webcast presentation on November 5, 2020 at 4:30 p.m. (Eastern Time) to discuss the company's selected financial results, provide a business outlook and other matters.
The live dial-in number is (866) 471-3828 (domestic) or (678) 509-7573 (international), conference ID code 9472326. Interested parties may also listen to a live webcast of the call by logging on to the Investor Relations section of AspenTech’s website, http://ir.aspentech.com/, and clicking on the “webcast” link. A replay of the call will be archived on AspenTech’s website and will also be available via telephone at (855) 859-2056 or (404) 537-3406, conference ID code 9472326, through November 12, 2020.
About AspenTech
Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more
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