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Progress Software: Fiscal 4Q Earnings Snapshot

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Thursday reported a fiscal fourth-quarter loss of $4.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Bedford, Massachusetts-based company said it had a loss of 11 cents. Earnings, adjusted for one-time gains and costs, were 79 cents per share.

The business software maker posted revenue of $117 million in the period. Its adjusted revenue was $123.4 million.

For the year, the company reported profit of $26.4 million, or 58 cents per share. Revenue was reported as $432 million.

For the current quarter ending in March, Progress Software expects its per-share earnings to range from 69 cents to 71 cents.

The company said it expects revenue in the range of $110 million to $113 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $109.1 million.

Progress Software expects full-year earnings in the range of $2.87 to $2.92 per share, with revenue ranging from $448 million to $455 million.

Progress Software shares have increased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.54, a rise of 31% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRGS at https://www.zacks.com/ap/PRGS