Aspen Technology Inc - AZPN STOCK NEWS

Aspen Technology, Inc. (NASDAQ: AZPN) reported strong third-quarter fiscal 2022 results, with total revenue of $187.8 million, indicating growth from $130.0 million in license revenue, $50.0 million in maintenance revenue, and $7.7 million in services. Net income rose to $75.1 million or $1.12 per share. The company anticipates annual spend growth of 7-8% and free cash flow of at least $285 million. A shareholder meeting is set for May 16, 2022, to discuss a proposed transaction with Emerson, expected to close in Q4 fiscal 2022.

Aspen Technology, Inc. (NASDAQ:AZPN) will release its third-quarter fiscal 2022 financial results on April 27, 2022, after U.S. markets close. This announcement will be followed by a conference call and webcast at 4:30 p.m. ET on the same day, discussing financial results and business outlook. Investors can participate by calling or accessing the live webcast on the AspenTech website. This event aims to provide insights into the company's performance and future strategies in asset optimization software.

X1 has appointed Larry Gill as the new CEO, bringing over 20 years of experience in technology and eDiscovery. Previously, he served as CEO of Phoenix Technologies and held senior roles at Guidance Software and Aspen Technology. X1 aims to enhance its leadership in remote eDiscovery solutions as businesses adapt to a distributed workplace. Gill's expertise is expected to drive growth and innovation, leveraging X1's cutting-edge technology for ESI collection and compliance.

Aspen Technology, Inc. (NASDAQ:AZPN) announced its upcoming presentations at investor conferences. CEO Antonio Pietri and CFO Chantelle Breithaupt will speak at the Berenberg Thematic Software Virtual Conference on March 1, 2022, at 10:00 a.m. ET. Additionally, CEO Pietri will present at the Bank of America Global Industrials Conference in London on March 15, 2022, at 2:50 p.m. GMT (10:50 a.m. EDT). These presentations will be webcast live on the Investor Relations section of AspenTech's website.

Aspen Technology (NASDAQ: AZPN) has partnered with India's Numaligarh Refinery Limited (NRL) to enhance operational excellence through digitalization. NRL aims to maximize refinery capacity and produce high-value products by implementing AspenTech's advanced software solutions, including Aspen HYSYS®, Aspen Unified PIMS™, and Aspen DMC3™. This collaboration follows a successful decade of partnership, positioning both companies to achieve sustainability goals and improve decision-making efficiency. NRL's digital transformation is expected to significantly impact its production and operational efficiencies.

Aspen Technology (NASDAQ: AZPN) reported strong second-quarter results for fiscal 2022, with total revenue of $171.4 million, driven by a 6% rise in annual spend to $640 million. However, license revenue fell to $116.1 million from $180.2 million year-over-year. The company posted net income of $61.9 million, or $0.92 per share, down from $1.89 in the previous year. Despite these declines, AspenTech anticipates annual spend growth of 7-8% and free cash flow between $280 and $290 million for fiscal 2022, bolstered by a strategic transaction with Emerson expected to close this fiscal year.

Aspen Technology, Inc. (NASDAQ:AZPN) is set to release its financial results for the second-quarter fiscal 2022, ending December 31, 2021, on January 26, 2022, after U.S. markets close. A conference call and webcast will follow on the same day at 4:30 p.m. ET to discuss the results and future outlook. Interested parties can join by phone or through AspenTech’s Investor Relations website. The company specializes in asset optimization software, offering solutions for industrial optimization that integrate artificial intelligence, enhancing operational efficiency for capital-intensive industries.

Aspen Technology, Inc. (NASDAQ: AZPN) has appointed Karen Golz as chair of its audit committee, replacing Gary Haroian, who retired after serving since 2003. Golz, a retired partner from Ernst & Young with extensive experience in accounting and international regulatory matters, joined the Board in March 2021. CEO Antonio Pietri expressed confidence in Golz's leadership, highlighting the company's growth potential and focus on operational efficiencies and sustainability.

Aspen Technology (AZPN) has announced the expiration of the waiting period under the Hart-Scott-Rodino Act and received antitrust clearance from the Austrian Federal Competition Authority in relation to its proposed acquisition by Emerson (EMR). This marks significant progress towards finalizing the transaction initially disclosed on October 11, 2021. However, approval from AspenTech shareholders and further antitrust clearances in Russia and South Korea remain necessary. The deal's closure is anticipated in the second quarter of 2022.