Progress Software (PRGS) Misses Q1 EPS by 2c; Trims FY16 Outlook

Progress Software (NASDAQ: PRGS) reported Q1 EPS of $0.27, $0.02 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $89.5 million versus the consensus estimate of $93.15 million.

GUIDANCE:

Progress Software sees Q2 2016 EPS of $0.26-$0.29, versus the consensus of $0.36. Progress Software sees Q2 2016 revenue of $93-96 million, versus the consensus of $102.3 million.

Progress Software sees FY2016 EPS of $1.57-$1.63, versus prior guidance of $1.59-$1.65 and the consensus of $1.62. Progress Software sees FY2016 revenue of $414-420 million, versus prior guidance of $427-433 million and the consensus of $428.9 million.

For earnings history and earnings-related data on Progress Software (PRGS) click here.

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