WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Pegasystems Inc. (PEGA) on Tuesday reported first-quarter net income of $32.8 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 18 cents. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The business software company posted revenue of $430 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $486.7 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEGA at https://www.zacks.com/ap/PEGA