BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Monday reported fiscal first-quarter profit of $22.8 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 53 cents. Earnings, adjusted for one-time gains and costs, were $1.60 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The business software maker posted revenue of $247.8 million in the period.
For the current quarter ending in May, Progress Software expects its per-share earnings to range from $1.47 to $1.53.
The company said it expects revenue in the range of $240 million to $246 million for the fiscal second quarter.
Progress Software expects full-year earnings in the range of $5.91 to $6.03 per share, with revenue ranging from $988 million to $1 billion.
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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