Ultimate Software Posts 19 Percent Revenue Gain

November 30, 2011 – Ultimate Software/(NASDAQ:ULTI), a provider of HR, payroll, and talent management solutions, has posted third quarter revenues of revenues of $67.8 million, an increase of 19 percent, compared to $44 million, a year ago. GAAP net income for the quarter was $1.1 million, or $0.04 per diluted share, the same as the third quarter of 2010. “We strengthened the strategic power of our unified talent management suite with the release of UltiPro Succession Management in the third quarter. We continued to execute in Canada, and our new customers in both our Enterprise and Workplace markets continued the trend of expanding the value of their UltiPro purchases by adding talent management and time management product components,” said Scott Scherr, CEO, president, and founder of Ultimate.