BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Tuesday reported fiscal fourth-quarter profit of $25.7 million.
The Burlington, Massachusetts-based company said it had net income of 59 cents per share. Earnings, adjusted for one-time gains and costs, were $1.51 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The business software maker posted revenue of $252.7 million in the period.
For the year, the company reported profit of $73.1 million, or $1.66 per share. Revenue was reported as $977.8 million.
For the current quarter ending in February, Progress Software expects its per-share earnings to range from $1.56 to $1.62.
The company said it expects revenue in the range of $244 million to $250 million for the fiscal first quarter.
Progress Software expects full-year earnings in the range of $5.82 to $5.96 per share, with revenue ranging from $986 million to $1 billion.
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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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