Progress Software Triples Net Profit in 4Q
Jan 3rd 2013 9:44PM
Updated Jan 3rd 2013 9:52PM
Progress Software has announced its 4Q and full-year 2012 results. In an official release detailing those financials, the company said it made revenues of $91 million during the quarter, and netted a profit of $36 million, or $0.57 per share. The revenue figure was 2% lower, and the net was nearly triple that of 4Q 2011, but the quarter benefited from gains in the sale of certain product lines.
For full-year 2012, Progress Software posted revenue of $361 million, and bottom line of $60 million, or $0.91 per share. Those numbers were down 7% and 20%, respectively, on a year-over-year basis.
The company said it expects its 1Q 2013 results to show flat revenue growth as compared to the year-ago quarter.
The article Progress Software Triples Net Profit in 4Q originally appeared on Fool.com.Eric Volkman has no positions in Progress Software. The Motley Fool has no positions in Progress Software. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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