Progress Software Reports Strong Q4 Earnings, Exceeding Analyst Expectations
Burlington, Massachusetts - Progress Software Corp. (PRGS) announced its fiscal fourth-quarter results on Tuesday, surpassing Wall Street estimates.
The company reported net income of $1.1 million, translating to earnings per share (EPS) of $0.03. Adjusted for non-recurring items, EPS reached $1.33.
Analysts polled by Zacks Investment Research had projected EPS of $1.21. Progress Software also outperformed revenue expectations, generating $215 million during the quarter against the consensus forecast of $211.3 million.
For the full fiscal year, the company reported earnings of $68.4 million or $1.54 per share, along with revenue of $753.4 million.
Looking ahead, Progress Software anticipates EPS in the range of $1.02 to $1.08 for the current quarter. The company predicts revenue between $232 million and $238 million.
For the entire fiscal year, Progress Software forecasts EPS between $5.00 and $5.12, with revenue ranging from $958 million to $970 million.