Progress Software Corp Q2 Earnings Retreat 9%

(RTTNews) - Progress Software Corp (PRGS) released a profit for second quarter that dropped compared to the same period last year.

The company said its profit fell to $16.43 million, or $0.33 per share. This was down from $18.13 million, or $0.35 per share, in last year's second 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 4.1% to $96.68 million. This was down from $100.85 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q2): $16.43 Mln. vs. $18.13 Mln. last year. -Earnings Decline (Y-o-Y): -9.4% -EPS (Q2): $0.33 vs. $0.35 last year. -EPS Decline (Y-o-Y): -5.7% -Analysts Estimate: $0.29 -Revenue (Q2): $96.68 Mln vs. $100.85 Mln last year. -Revenue Change (Y-o-Y): -4.1%

-Guidance: Next quarter EPS guidance: $0.43 - $0.46 Next quarter revenue guidance: $103 - $106 Mln Full year EPS guidance: $1.57 - $1.63 Full year revenue guidance: $412 - $418 Mln