BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Tuesday reported fiscal fourth-quarter profit of $1.1 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were $1.33 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The business software maker posted revenue of $215 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $211.3 million.
For the year, the company reported profit of $68.4 million, or $1.54 per share. Revenue was reported as $753.4 million.
For the current quarter ending in February, Progress Software expects its per-share earnings to range from $1.02 to $1.08.
The company said it expects revenue in the range of $232 million to $238 million for the fiscal first quarter.
Progress Software expects full-year earnings in the range of $5 to $5.12 per share, with revenue ranging from $958 million to $970 million.
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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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