Progress Software Corp Q4 Profit Decreases, but beats estimates

(RTTNews) - Progress Software Corp (PRGS) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $15.34 million, or $0.34 per share. This compares with $23.71 million, or $0.54 per share, in last year's fourth quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $45.77 million or $1.02 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.6% to $176.97 million from $157.13 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings (Q4): $15.34 Mln. vs. $23.71 Mln. last year. -EPS (Q4): $0.34 vs. $0.54 last year. -Analyst Estimates: $0.91 -Revenue (Q4): $176.97 Mln vs. $157.13 Mln last year.

-Guidance: Next quarter EPS guidance: $1.16 Next quarter revenue guidance: $180 - $184 Mln