Progress Software: Fiscal 3Q Earnings Snapshot

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Thursday reported fiscal third-quarter net income of $13.6 million.

The Bedford, Massachusetts-based company said it had profit of 30 cents per share. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.

The business software maker posted revenue of $106.7 million in the period. Its adjusted revenue was $115.5 million.

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For the current quarter ending in November, Progress Software expects its per-share earnings to range from 73 cents to 75 cents.

The company said it expects revenue in the range of $116 million to $119 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $123.2 million.

Progress Software expects full-year earnings in the range of $2.63 to $2.65 per share, with revenue ranging from $425 million to $428 million.

Progress Software shares have increased 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $41.93, rising slightly 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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