Progress Software Corp Q2 adjusted earnings Beat Estimates

(RTTNews) - Progress Software Corp (PRGS) revealed earnings for second quarter that dropped from last year.

The company's bottom line totaled $13.56 million, or $0.30 per share. This compares with $16.97 million, or $0.37 per share, in last year's second quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $36.51 million or $0.82 per share for the period.

Analysts had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.0% to $122.49 million from $100.38 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q2): $36.51 Mln. vs. $28.66 Mln. last year. -EPS (Q2): $0.82 vs. $0.63 last year. -Analysts Estimate: $0.72 -Revenue (Q2): $122.49 Mln vs. $100.38 Mln last year.

-Guidance: Full year EPS guidance: $3.46 - $3.50 Full year revenue guidance: $529 - $535 Mln