Ultimate Software Posts 25 Percent Q3 Revenue Gain

October 31, 2013 – Ultimate Software/(NASDAQ:ULTI), a provider of HR, payroll, and talent management solutions, has posted third quarter revenues of revenues of $103.1 million, an increase of 25 percent, compared to $82.6 million, a year ago. GAAP net income for the quarter was $6.3 million, or $0.22 per diluted share, compared to $4.7 million, or $0.16 per diluted share during the third quarter of 2012. “In this year’s third quarter, we again executed according to plan with both our recurring and total revenues coming in slightly above guidance,” said Scott Scherr, CEO, president, and founder of Ultimate. “Our operating margin was also on the positive side of our target, and we are well-positioned to achieve our 2013 objectives.”

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