Progress Software Corp Q4 Profit Increases, beats estimates

(RTTNews) - Progress Software Corp (PRGS) reported earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $23.71 million, or $0.54 per share. This compares with $14.93 million, or $0.33 per share, in last year's fourth quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $49.24 million or $1.12 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.1% to $157.13 million from $140.13 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings (Q4): $23.71 Mln. vs. $14.93 Mln. last year. -EPS (Q4): $0.54 vs. $0.33 last year. -Analyst Estimate: $1.09 -Revenue (Q4): $157.13 Mln vs. $140.13 Mln last year.

-Guidance: Next quarter EPS guidance: $1.04 - $1.08 Next quarter revenue guidance: $157 - $161 Mln