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Progress Software: Fiscal 1Q Earnings Snapshot

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Thursday reported fiscal first-quarter earnings of $9.4 million.

On a per-share basis, the Bedford, Massachusetts-based company said it had net income of 21 cents. Earnings, adjusted for one-time gains and costs, were 50 cents per share.

The business software maker posted revenue of $89.5 million in the period.

For the current quarter ending in June, Progress Software expects its per-share earnings to range from 55 cents to 57 cents.

The company said it expects revenue in the range of $96 million to $99 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $93.8 million.

Progress Software expects full-year earnings in the range of $2.46 to $2.52 per share, with revenue ranging from $422 million to $428 million.

Progress Software shares have climbed 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.32, falling slightly 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