Progress Software: Fiscal 3Q Earnings Snapshot

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Tuesday reported fiscal third-quarter earnings of $24 million. The Bedford, Massachusetts-based company said it had net income of 53 cents per share. Earnings, adjusted for one-time gains and costs, came to 78 cents per share. The business software maker posted revenue […]

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Tuesday reported fiscal third-quarter earnings of $24 million.

The Bedford, Massachusetts-based company said it had net income of 53 cents per share. Earnings, adjusted for one-time gains and costs, came to 78 cents per share.

The business software maker posted revenue of $109.7 million in the period. Its adjusted revenue was $110.9 million.

For the current quarter ending in November, Progress Software expects its per-share earnings to range from 76 cents to 79 cents.

The company said it expects revenue in the range of $124.9 million to $128.9 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $128.7 million.

Progress Software expects full-year earnings in the range of $2.94 to $2.97 per share, with revenue ranging from $452 million to $456 million.

Progress Software shares have decreased nearly 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.75, an increase of roughly 2% in the last 12 months.

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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 PRGS at https://www.zacks.com/ap/PRGS

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