Business

Mass. Movers

Aspen Technology records profit in quarter

Mark Fusco is Aspen’s CEO and president.
Peter Jordan
Mark Fusco is Aspen’s CEO and president.
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Shares of Burlington-based Aspen Technology Inc. rose as the company swung to a fourth-quarter profit as sales of software and subscriptions jumped. Results beat Wall Street expectations. Aspen’s software is designed to help customers in the oil and gas and pharmaceutical industries manage the supply chain and plant operations. For the period ended June 30, Aspen swung to a profit of $20.4 million, or 21 cents a share, compared with a year-earlier loss of $5.4 million, or 6 cents. Revenue jumped 30 percent to $83.3 million.