Progress Software Corp Reports 9% Decline In Q1 Earnings

(RTTNews) - Progress Software Corp (PRGS) reported earnings for first quarter that retreated from last year.

The company said its bottom line fell to $13.78 million, or $0.27 per share. This was down from $15.14 million, or $0.29 per share, in last year's first quarter.

Analysts had expected the company to earn $0.29 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.5% to $90.24 million. This was down from $95.46 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q1): $13.78 Mln. vs. $15.14 Mln. last year. -Earnings Decline (Y-o-Y): -9.0% -EPS (Q1): $0.27 vs. $0.29 last year. -EPS Decline (Y-o-Y): -6.9% -Analysts Estimate: $0.29 -Revenue (Q1): $90.24 Mln vs. $95.46 Mln last year. -Revenue Change (Y-o-Y): -5.5%

-Guidance: Next quarter EPS guidance: $0.26 - $0.29 Next quarter revenue guidance: $93 - $96 Mln Full year EPS guidance: $1.57 - $1.63 Full year revenue guidance: $414 - $420 Mln