Progress Software Corp. PRGS, +3.21% shares rose in the extended session Thursday after the business software company’s outlook topped Wall Street estimates. Progress shares rose 4.7% after hours, following a 5% gain in the regular session to close at $47.54. Progress expects adjusted earnings of 69 cents to 71 cents a share on revenue of $110 million to $113 million for the first quarter, and $2.87 to $2.92 a share on revenue of $448 million to $455 million for the year. Analysts surveyed by FactSet estimate earnings of 64 cents a share on revenue of $103.9 million for the first quarter, and $2.84 a share on revenue of $436.7 million for the year. The company reported a fourth-quarter loss of $4.7 million, or 11 cents a share, compared with net income of $8.6 million, or 19 cents a share, in the year-ago period. Adjusted earnings were 79 cents a share. Revenue rose to $117 million from $98.1 million in the year-ago quarter. Analysts had forecast earnings of 75 cents a share on revenue of $118.3 million.
[“source=marketwatch”]
