Progress Software Triples Net Profit in 4Q

Progress Software (NASDAQ: PRGS  ) 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.


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