BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Monday reported fiscal first-quarter profit of $10.9 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 24 cents. Earnings, adjusted for one-time gains and costs, were $1.31 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The business software maker posted revenue of $238 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $235.8 million.
For the current quarter ending in May, Progress Software expects its per-share earnings to range from $1.28 to $1.34.
The company said it expects revenue in the range of $235 million to $241 million for the fiscal second quarter.
Progress Software expects full-year earnings in the range of $5.25 to $5.37 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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