Sept 26 Database management software maker
Progress Software Corp reported a third-quarter profit
that beat analysts' estimates, helped by cost cuts.
The company's net income from continuing operations fell to
$5.8 million, or 12 cents per share, from $9.1 million, or 14
cents per share, a year earlier.
Excluding items, it earned 31 cents per share.
Revenue fell 14 percent to $107.2 million.
Analysts expected earnings of 24 cents per share on revenue
of $112.3 million, according to Thomson Reuters I/B/E/S.
Shares of the Bedford, Massachusetts-based company rose 3
percent in after hours trading on Wednesday. They closed at
$19.16 on the Nasdaq.