Progress Software Corp Q4 Profit Decreases, But Beats Estimates

(RTTNews) - Progress Software Corp (PRGS) released a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $1.15 million, or $0.03 per share. This compares with $15.33 million, or $0.34 per share, last year.

Excluding items, Progress Software Corp reported adjusted earnings of $59.98 million or $1.33 per share for the period.

Analysts on average had expected the company to earn $1.21 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 21.1% to $214.961 million from $177.523 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings: $1.15 Mln. vs. $15.33 Mln. last year. -EPS: $0.03 vs. $0.34 last year. -Revenue: $214.961 Mln vs. $177.523 Mln last year.

-Guidance: Next quarter EPS guidance: $1.02 - $1.08 Next quarter revenue guidance: $232 - $238 Mln