Progress Software Tops in Q2 – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/21228/Progress+Software+Tops+in+Q2+-+Zacks+Tale+of+the+TapePosted on Thursday, June 18th, 2009 | In Market Commentary, Stocks to Watch
Progress Software Corp. (PRGS) is up about 1% today after reporting fiscal second-quarter earnings per share that topped estimates.
The software maker earned 39 cents per share for the quarter, excluding items, which topped the lowered consensus of 29 cents. However, adjusted revenue dipped 8% to $118 million.
Progress Software now sees full-year earnings between $1.72 and $1.81 per share, compared to its prior view of $1.70 to $1.80.
The company expects adjusted third-quarter profit of 38 cents to 41 cents per share and revenue of $120 million to $123 million.
Progress Software, a Zacks #3 Rank (”Hold”) company, is moving on lower-than-usual volume of 109,000 shares while the daily average is around 190,751.
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