RTTNews | Sep 29, 2020 04:24PM EDT

16:23 Tuesday, September 29, 2020 (RTTNews.com) - Progress Software Corp (PRGS) revealed a profit for its third quarter that rose from last year.

The company's profit came in at $23.98 million, or $0.53 per share. This compares with $13.56 million, or $0.30 per share, in last year's third quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $35.61 million or $0.78 per share for the period.

Analysts had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.8% to $109.70 million from $106.72 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q3): $35.61 Mln. vs. $33.85 Mln. last year.-EPS (Q3): $0.78 vs. $0.75 last year.-Analysts Estimate: $0.77-Revenue (Q3): $109.70 Mln vs. $106.72 Mln last year.

-Guidance:Next quarter EPS guidance: $0.76 - $0.79Next quarter revenue guidance: $125 - $129 MlnFull year EPS guidance: $2.94 - $2.97Full year revenue guidance: $452 - $456 Mln

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