Progress Software: Fiscal Q4 Earnings Snapshot

BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Tuesday reported fiscal fourth-quarter earnings of $15.3 million.

The Burlington, Massachusetts-based company said it had net income of 34 cents per share. Earnings, adjusted for one-time gains and costs, were $1.02 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The business software maker posted revenue of $177 million in the period. Its adjusted revenue was $177.5 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $174.1 million.

For the year, the company reported profit of $70.2 million, or $1.57 per share. Revenue was reported as $698.2 million.

For the current quarter ending in February, Progress Software expects its per-share earnings to range from $1.12 to $1.16.

The company said it expects revenue in the range of $180 million to $184 million for the fiscal first quarter.

Progress Software expects full-year earnings in the range of $4.58 to $4.68 per share, with revenue ranging from $722 million to $732 million.

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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