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SOFTWARE INDUSTRY NEWS |
Progress Software reports second quarter financial results |
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Progress Software Corporation has announced its results for the second quarter ended May 31, 2010. Revenue for the quarter was $127.7 million, up nine percent from $117 million in the second quarter of fiscal 2009. Software license revenue increased 15 percent to $44.2 million from $38.5 million in the same quarter last year. Operating income increased 97 percent to $22.7 million in the second quarter of fiscal 2010 as compared to $11.5 million in the same quarter last year. Net income increased 176 percent to $19.1 million from $6.9 million in the same quarter last year. Diluted earnings per share increased 153 percent to 43 cents in the second quarter of fiscal 2010 as compared to 17 cents in the same quarter a year ago. Business Outlook For the year ending November 30, 2010, Progress Software expects revenue to be in the range of $509 million to $519 million, and diluted earnings per share in the range of $0.89 to $1.04. For the third quarter which ends August 31, 2010, the company expects revenue in the range of $121 million to $124 million, diluted EPS in the range of 9 cents to 19 cents. More information can be found in the company's statement. |
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