Progress Software Corp Q1 adjusted earnings Beat Estimates

(RTTNews) - Progress Software Corp (PRGS) revealed earnings for its first quarter that rose from the same period last year.

The company's earnings came in at $21.12 million, or $0.46 per share. This compares with $9.40 million, or $0.21 per share, in last year's first quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $34.70 million or $0.76 per share for the period.

Analysts had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.5% to $109.68 million from $89.55 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q1): $34.70 Mln. vs. $22.73 Mln. last year. -EPS (Q1): $0.76 vs. $0.50 last year. -Analysts Estimate: $0.70 -Revenue (Q1): $109.68 Mln vs. $89.55 Mln last year.

-Guidance: Next quarter EPS guidance: $0.60 - $0.64 Next quarter revenue guidance: $95 - $101 Mln Full year EPS guidance: $2.73 - $2.80 Full year revenue guidance: $428 - $438