Pegasystems swings to 2Q profit on higher sales

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CAMBRIDGE, Mass. (AP) — Business-software maker Pegasystems Inc. said Tuesday that it posted a second-quarter profit, reversing a year-ago loss, as revenue rose 26 percent.

The company said it added new industry-specific products and released a new version of its core business process management software.

Net income rose to $2.3 million, or 6 cents per share, compared with a loss of $8.2 million, or 22 cents per share, a year earlier.

The company said adjusted income excluding acquisition costs and stock-based compensation expenses was 16 cents per share.

Revenue rose to $103.5 million from $82.2 million a year ago.

Analysts expected the company to earn 15 cents per share on revenue of $101.5 million, according to FactSet.

The shares rose $2.36, or 7.1 percent, to close at $35.63. They tacked on another 9 cents to $35.72 in extended trading following the release of the earnings report.