BURLINGTON, Mass. (AP) _ Progress Software Corp. (PRGS) on Tuesday reported fiscal fourth-quarter profit of $23.7 million.
The Burlington, Massachusetts-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, were $1.12 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The business software maker posted revenue of $157.1 million in the period. Its adjusted revenue was $159.2 million.
For the year, the company reported profit of $95.1 million, or $2.15 per share. Revenue was reported as $610.6 million.
For the current quarter ending in February, Progress Software expects its per-share earnings to range from $1.04 to $1.08. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.10.
The company said it expects revenue in the range of $157 million to $161 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $165.5 million.
Progress Software expects full-year earnings in the range of $4.09 to $4.17 per share, with revenue ranging from $675 million to $685 million.
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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