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Progress Software: Fiscal Q1 Earnings Snapshot

March 25, 2021 GMT

BEDFORD, Mass. (AP) _ Progress Software Corp. (PRGS) on Thursday reported fiscal first-quarter earnings of $19 million.

On a per-share basis, the Bedford, Massachusetts-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, came to 95 cents per share.

The business software maker posted revenue of $121.3 million in the period. Its adjusted revenue was $131.8 million.

For the current quarter ending in June, Progress Software expects its per-share earnings to range from 72 cents to 74 cents.

The company said it expects revenue in the range of $119 million to $123 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $121.6 million.

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Progress Software expects full-year earnings in the range of $3.38 to $3.42 per share, with revenue ranging from $519 million to $527 million.

Progress Software shares have fallen 7.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $41.80, a climb of 26% in the last 12 months.

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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