Progress Software Corp Q1 adjusted earnings Beat Estimates

(RTTNews) - Progress Software Corp (PRGS) reported a profit for first quarter that fell from the same period last year.

The company's bottom line came in at $18.96 million, or $0.42 per share. This compares with $21.12 million, or $0.46 per share, in last year's first quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $42.50 million or $0.95 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.6% to $121.28 million from $109.68 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q1): $42.50 Mln. vs. $34.70 Mln. last year. -EPS (Q1): $0.95 vs. $0.76 last year. -Analysts Estimate: $0.75 -Revenue (Q1): $121.28 Mln vs. $109.68 Mln last year.

-Guidance: Next quarter EPS guidance: $0.72 - $0.74 Next quarter revenue guidance: $119 - $123 Mln Full year EPS guidance: $3.38 - $3.42 Full year revenue guidance: $519 - $527 Mln