Wedbush Cuts Price Target on Progress Software (PRGS) Following a Weak 1Q
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March 30, 2016 4:20 PM EDT
BEDFORD, Mass.--(BUSINESS WIRE)--
Progress (NASDAQ: PRGS) today announced that Chris E. Perkins, the
companys Chief Financial Officer, has informed the company that he
plans to retire after a transition period while we search for his
replacement. Mr. Perkins joined Progress as its CFO in February 2013.
The Company will commence a search for a new CFO shortly.
Chris contributions have been critical in guiding us through the
strategic transformation we began almost four years ago, said Phil
Pead, Progress President and CEO. Chris... More
March 30, 2016 4:15 PM EDT
BEDFORD, Mass.--(BUSINESS WIRE)--
Progress (NASDAQ: PRGS), a global software company that simplifies and
enables the development, deployment and management of business
applications, today announced results for its fiscal first quarter ended
February 29, 2016.
Revenue was $89.5 million compared to $81.4 million in the same quarter
last year, a year over year increase of 10% on an actual currency basis
and 14% on a constant currency basis. On a non-GAAP basis, revenue was
$90.2 million compared to $95.5 million in the same quarter last year, a
decrease of 5% on an actual currency basis and 2% on a constant currency
basis.
... More
