BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Monday reported fiscal second-quarter profit of $17 million.
The Burlington, Massachusetts-based company said it had net income of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The business software maker posted revenue of $237.4 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $237.8 million.
For the current quarter ending in August, 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 $237 million to $243 million for the fiscal third quarter.
Progress Software expects full-year earnings in the range of $5.28 to $5.40 per share, with revenue ranging from $962 million to $974 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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