BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Monday reported fiscal third-quarter profit of $19.4 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had net income of 44 cents. Earnings, adjusted for amortization costs and stock option expense, were $1.50 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The business software maker posted revenue of $249.8 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $240.3 million.
For the current quarter ending in November, Progress Software expects its per-share earnings to range from $1.29 to $1.35.
The company said it expects revenue in the range of $250 million to $256 million for the fiscal fourth quarter.
Progress Software expects full-year earnings in the range of $5.50 to $5.56 per share, with revenue ranging from $975 million to $981 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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