Progress Software Q3 Profit Soars - Quick Facts

(RTTNews) - Progress Software Corp. (PRGS) reported third-quarter net income of $24.8 million, or $0.46 per share, compared to $5.8 million, or $0.09 per share in the year-ago quarter.

Income from continuing operations for the latest third quarter was $7.2 million or $0.13 per share, compared to $7.7 million or $0.12 per share in the comparable quarter last year.

Excluding items, adjusted income from continuing operations for the third quarter declined to $14.7 million, or $0.27 per share from $12.4 million, or $0.19 per share in the prior year period.

Meanwhile, total revenue for the quarter rose to $77.58 million from $74.37 million in the comparable quarter last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.24 per share on revenue of $76.70 million for the third quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, revenue is expected to be between 4% and 6% growth compared to the fiscal third quarter of 2012, on a constant currency basis.