Progress Software Corp Q3 Profit Increases, Beats Estimates

(RTTNews) - Progress Software Corp (PRGS) reported a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $28.46 million, or $0.65 per share. This compares with $19.10 million, or $0.42 per share, in last year's third quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $55.22 million or $1.26 per share for the period.

Analysts on average had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.1% to $178.686 million from $174.992 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings (Q3): $28.46 Mln. vs. $19.10 Mln. last year. -EPS (Q3): $0.65 vs. $0.42 last year. -Revenue (Q3): $178.686 Mln vs. $174.992 Mln last year.

-Guidance: Full year EPS guidance: $4.75 -$4.85 Full year revenue guidance: $745 -$755 Mln