AP NEWS

Progress Software: Fiscal 2Q Earnings Snapshot

June 27, 2019

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Thursday reported fiscal second-quarter profit of $8.2 million.

On a per-share basis, the Bedford, Massachusetts-based company said it had profit of 18 cents. Earnings, adjusted for one-time gains and costs, were 65 cents per share.

The business software maker posted revenue of $100 million in the period. Its adjusted revenue was $103.5 million.

For the current quarter ending in September, Progress Software expects its per-share earnings to range from 68 cents to 70 cents.

The company said it expects revenue in the range of $109 million to $112 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $113.7 million.

Progress Software expects full-year earnings in the range of $2.52 to $2.57 per share, with revenue ranging from $422 million to $428 million.

Progress Software shares have risen 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.63, a climb of 17% 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

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