Progress Software: Fiscal Q2 Earnings Snapshot

BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Tuesday reported fiscal second-quarter earnings of $16.2 million.

On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 37 cents. Earnings, adjusted for one-time gains and costs, were $1.09 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

The business software maker posted revenue of $175.1 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $168.6 million.

For the current quarter ending in August, Progress Software expects its per-share earnings to range from $1.11 to $1.15.

The company said it expects revenue in the range of $174 million to $178 million for the fiscal third quarter.

Progress Software expects full-year earnings in the range of $4.70 to $4.80 per share, with revenue ranging from $725 million to $735 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