In 2Q16, $CTAS's Uniform Rental and Facility Services operating segment revenue was $937.7MM, an increase of 5.2% compared to last year's second quarter with an organic growth of 6.2%. The segment gross margin was 43.9%, an increase of 60 BPs from 2Q15.
$PRGS said it will be implementing restructuring efforts that will include consolidating facilities, implementing a simplified organizational structure and reducing marketing and other external expenses. $PRGS also intends to discontinue investment in its digital factory offering.
$PRGS intends to reduce its headcount by about 450 employees, totaling over 20% of its
workforce. Initial headcount reductions will begin in 1Q17 and expects it to be substantially completed by end 2Q17. $PRGS also stated that its COO Jerry Rulli will be leaving the company at the end of 1Q17.
For FY17, $PRGS expects GAAP revenue in the range of $387-395MM
and diluted EPS in the range of $0.56-0.64. Non-GAAP revenue is expected to be in
the range of $388-396MM, while non-GAAP diluted EPS is expected in the range of
$1.64-1.69. For 1Q17, $PRGS expects GAAP revenue of $86-89MM and diluted loss
per share in the range of $0.12-0.06.
Software enterprise $PRGS posted wider losses in 4Q16, hurt
by a non-cash impairment charge of $92MM in its Application Development and
Deployment segment related to the Telerik business. Net loss in the quarter was
$73.79MM or $1.52 per share compared to a net loss of $9.47MM or $0.19 per
share a year ago. Revenue rose 4.43% to $117.724MM.