BEDFORD, Mass. _ Progress Software Corp. on Wednesday reported fiscal second-quarter net income of $10.3 million. For the current quarter ending in September, Progress Software expects its per-share earnings to range from 41 cents to 43 cents. Progress Software…
BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Wednesday reported fiscal second-quarter net income of $10.3 million.
On a per-share basis, the Bedford, Massachusetts-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 42 cents per share.
The business software maker posted revenue of $93.2 million in the period.
For the current quarter ending in September, Progress Software expects its per-share earnings to range from 41 cents to 43 cents.
The company said it expects revenue in the range of $93 million to $96 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $97.6 million.
Progress Software expects full-year earnings in the range of $1.73 to $1.78 per share, with revenue ranging from $390 million to $395 million.
Progress Software shares have dropped 3.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.82, a rise of 24 percent 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
Keywords: Progress Software, Earnings Report
