Progress Software Corp Q3 adjusted earnings Beat Estimates

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

The company's profit totaled $30.98 million, or $0.70 per share. This compares with $23.98 million, or $0.53 per share, in last year's third quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $52.58 million or $1.18 per share for the period.

Analysts had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 34.4% to $147.42 million from $109.70 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q3): $52.58 Mln. vs. $35.61 Mln. last year. -EPS (Q3): $1.18 vs. $0.78 last year. -Analysts Estimate: $0.82 -Revenue (Q3): $147.42 Mln vs. $109.70 Mln last year.

-Guidance: Next quarter EPS guidance: $0.73 - $0.75 Next quarter revenue guidance: $134 - $138 Mln Full year EPS guidance: $3.68 - $3.70 Full year revenue guidance: $548 - $552 Mln