NEW YORK (Thomson Financial) - Shares of Pegasystems Inc. climbed Tuesday
after the company reported it swung to a profit in the third quarter.
After Monday's closing bell, the company said third-quarter net income rose
to $3.5 million, or 9 cents a share, from a loss of $400,000, or 1 cent a share,
in the prior-year period.
Third-quarter revenue increased 25% to $42 million from $33.5 million a year
earlier.
Pegasystems, a software company that automates changing business processes,
said it won several new customers during the quarter including a large U.S. life
insurer and large banks in Canada and Western Europe.
Shares of the Cambridge, Mass.-based company were up 16.6% to $12.51.
Melinda Peer
mp/jw
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