Progress Software Corp Q4 Profit Increases, beats estimates

Progress Software Corp (PRGS) reported earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $23.71 million, or $0.54 per share. This compares with $14.93 million, or $0.33 per share, in last year's fourth quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $49.24 million or $1.12 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.1% to $157.13 million from $140.13 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings (Q4): $23.71 Mln. vs. $14.93 Mln. last year.
-EPS (Q4): $0.54 vs. $0.33 last year.
-Analyst Estimate: $1.09
-Revenue (Q4): $157.13 Mln vs. $140.13 Mln last year.

Next quarter EPS guidance: $1.04 - $1.08
Next quarter revenue guidance: $157 - $161 Mln

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