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Progress Software: Fiscal 4Q Earnings Snapshot

·1 min read

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Thursday reported fiscal fourth-quarter net income of $17.7 million, after reporting a loss in the same period a year earlier.

The Bedford, Massachusetts-based company said it had profit of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.

The business software maker posted revenue of $122.4 million in the period. Its adjusted revenue was $129.1 million.

For the year, the company reported profit of $79.7 million, or $1.76 per share. Revenue was reported as $456.2 million.

For the current quarter ending in March, Progress Software expects its per-share earnings to range from 72 cents to 76 cents.

The company said it expects revenue in the range of $119 million to $123 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $129 million.

Progress Software expects full-year earnings in the range of $3.22 to $3.28 per share, with revenue ranging from $513 million to $521 million.

Progress Software shares have climbed 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $48.81, an increase of 9% in the last 12 months.

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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