Progress Software: Fiscal 2Q Earnings Snapshot

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Wednesday reported fiscal second-quarter profit of $15.4 million.

The Bedford, Massachusetts-based company said it had net income of 33 cents per share. Earnings, adjusted for one-time gains and costs, were 60 cents per share.

The business software maker posted revenue of $96.1 million in the period.

For the current quarter ending in September, Progress Software expects its per-share earnings to range from 56 cents to 58 cents.

The company said it expects revenue in the range of $95 million to $97 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $98.1 million.

Progress Software expects full-year earnings in the range of $2.45 to $2.50 per share, with revenue ranging from $398 million to $404 million.

Progress Software shares have dropped 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.80, a climb of 16 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRGS at https://www.zacks.com/ap/PRGS

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