Progress Software Corp Q3 adjusted earnings Beat Estimates

(RTTNews) - Progress Software Corp (PRGS) announced earnings for its third quarter that climbed from the same period last year.

The company's profit came in at $16.75 million, or $0.37 per share. This compares with $11.17 million, or $0.23 per share, in last year's third quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $27.17 million or $0.60 per share for the period.

Analysts had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.9% to $95.79 million from $97.62 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q3): $27.17 Mln. vs. $23.04 Mln. last year. -EPS (Q3): $0.60 vs. $0.48 last year. -Analysts Estimate: $0.58 -Revenue (Q3): $95.79 Mln vs. $97.62 Mln last year.

-Guidance: Next quarter EPS guidance: $0.71 - $0.74 Full year EPS guidance: $2.45 - $2.48