Progress Software Corp Q2 Profit Increases, Beats Estimates

(RTTNews) - Progress Software Corp (PRGS) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $17.03 million, or $0.39 per share. This compares with $16.19 million, or $0.37 per share, last year.

Excluding items, Progress Software Corp reported adjusted earnings of $61.75 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.30 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 35.6% to $237.355 million from $175.077 million last year.

Progress Software Corp earnings at a glance (GAAP) :

-Earnings: $17.03 Mln. vs. $16.19 Mln. last year. -EPS: $0.39 vs. $0.37 last year. -Revenue: $237.355 Mln vs. $175.077 Mln last year.

-Guidance: Full year EPS guidance: $5.28 - $5.40 Full year revenue guidance: $958 - $970 Mln