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Exa Reports First Quarter Fiscal 2017 Financial Results

BURLINGTON, Mass., May 25, 2016 (GLOBE NEWSWIRE) -- Exa® Corporation (NASDAQ:EXA), a leading innovator of simulation software for product engineering, today announced financial results for the first quarter fiscal 2017, which ended April 30, 2016.

“We executed well in the first quarter of fiscal 2017, with revenue that was near the upper end of our expectations and adjusted EBITDA that was at the high end of our guidance range,” said Stephen Remondi, President and Chief Executive Officer of Exa. “The strategic value we provide to customers is enabling us to deliver consistent growth, and our focus on leverage in our operating model has allowed us to continue improving our profitability year-over-year. Our strong start to fiscal 2017, continued business momentum and compelling value proposition, provide confidence in our ability to deliver the full year expectations we’ve provided, including strong revenue growth and increasing profit margins.”