Progress Software Corp (PRGS) Reports In-Line Q2 EPS, Posts Strong Q3 & FY11 Guidance, Adds $100M to Buyback Plan

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Progress Software Corp (NASDAQ: PRGS) reported Q2 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $134.7 million versus the consensus estimate of $134.08 million.

Progress Software Corp sees Q3 2011 EPS of $0.34-$0.36, versus the consensus of $0.31. Progress Software Corp sees Q3 2011 revenue of $133-$136 million, versus the consensus of $137.3 million.

Progress Software Corp sees FY2011 EPS of $1.60-$1.65, versus the consensus of $1.71. Progress Software Corp sees FY2011 revenue of $550-$560 million, versus the consensus of $560.2 million.

The company also announced that its board of directors decided to add an additional $100 million to its original buyback plan.

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