Progress Software Corp Q4 adjusted earnings Beat Estimates

(RTTNews) - Progress Software Corp (PRGS) announced a profit for its fourth quarter that increased from the same period last year.

The company's bottom line came in at $18.43 million, or $0.41 per share. This compares with $16.43 million, or $0.34 per share, in last year's fourth quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $34.59 million or $0.76 per share for the period.

Analysts had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.2% to $111.50 million from $116.34 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q4): $34.59 Mln. vs. $32.07 Mln. last year. -EPS (Q4): $0.76 vs. $0.67 last year. -Analysts Estimate: $0.73 -Revenue (Q4): $111.50 Mln vs. $116.34 Mln last year.