Aspen Technology, a provider of software and services to the process industries, has reported that license bookings stood at approximately $36 million for the first quarter of fiscal 2008, an increase of 50% compared to license bookings of approximately $24 million in the first quarter of fiscal 2007.
The company ended the quarter with $128 million in cash and cash equivalents, which is a decrease compared to $132 million at the end of the previous quarter. The sequential decline in cash was primarily due to cash payments related to incentive compensation following the company’s record fiscal 2007 results. On a year-over-year basis, the company’s cash and cash equivalents increased $39 million from a balance of $89 million at September 30, 2006.
Mark Fusco, CEO of Aspen Technology, said: We are pleased with the company’s operational performance in the first quarter, with strong year-over-year growth in license bookings highlighting what was a strong start to the fiscal year.