$PRGS (Progress Software Corporation)

$PRGS {{ '2016-03-30T20:58:10+0000' | timeago}} • Announcement

$PRGS also said its BoD has authorized a new $100MM share repurchase program, increasing the total authorization to $203MM. $PRGS' plan is to utilize the full amount of this authorization by the end of this fiscal year, and will provide updates each quarter on any repurchase activity.

$PRGS {{ '2017-09-28T18:16:36+0000' | timeago}} • Webcast

$PRGS said it believes in growing businesses by running them lean and not scaling up sales and marketing ahead of demand. So the company does not expect to ramp up sales and marketing in advance of demand for its solutions. $PRGS aims to reach operating margins of 35% and to maintain this level for 2018 and beyond.

$PRGS {{ '2017-09-28T18:03:00+0000' | timeago}} • Webcast

$PRGS posted revenue of $68MM in its OpenEdge segment during 3Q17, essentially flat with 3Q16, on a constant currency basis. Maintenance renewals were well over 90%. DCI revenue was $9MM, a decline of 37% compared to 3Q16. Revenue for the AD&D segment was $20MM, a decrease of 1% versus 3Q16.

$PRGS {{ '2017-09-28T18:02:45+0000' | timeago}} • Webcast

$PRGS reported revenue in North America of $56MM for 3Q17, down 4% from 3Q16. On a constant currency basis, EMEA revenue was $32MM, down 3% versus last year. Latin America revenue was $5MM, up 5% and APJ revenue was $5MM, down 26% compared to last year.

$PRGS {{ '2017-09-27T20:55:14+0000' | timeago}} • Announcement

$PRGS announced that its BoD has increased the total share repurchase authorization from the $91MM remaining on the previous authorization to $250MM. The company intends to utilize $150MM of this authorization by the end of FY18, and the total amount by the end of FY19.

$PRGS {{ '2017-09-27T20:53:18+0000' | timeago}} • Announcement

For FY17, $PRGS expects revenue to be $393-396MM. GAAP diluted EPS is expected to be $0.74-0.78 and adjusted EPS is expected to be $1.82-1.85 in FY17. For 4Q17, revenue is expected to be $112-115MM. GAAP diluted EPS is expected to be $0.33-0.36 and adjusted EPS is expected to be $0.58-0.61 in 4Q17.

$PRGS {{ '2017-09-27T20:45:00+0000' | timeago}} • Announcement

$PRGS reported net income of $11.2MM or $0.23 per share in 3Q17 compared to $7.6MM or $0.15 per share in 3Q16. Adjusted net income was $23MM or $0.48 per share in 3Q17. Revenue was $97.3MM compared to $102MM last year.

$PRGS {{ '2017-06-28T22:03:32+0000' | timeago}} • Webcast

$PRGS wants to invest prudently to grow its business. The company believes it can keep its margins north of 30% while continuing to stabilize and grow revenues. $PRGS is comfortable with its operating margin guidance of 33-34% for FY17.

$PRGS {{ '2017-06-28T21:37:18+0000' | timeago}} • Webcast

During 2Q17, $PRGS’ revenue in North America was $52MM, down 4% from 2Q16. On a constant currency basis, EMEA revenue was $32MM, up 2% versus last year. Latin America revenue was $5MM, up 17% while Asia-Pacific revenue was $5MM, down 19% from last year.

$PRGS {{ '2017-06-28T21:33:14+0000' | timeago}} • Webcast

$PRGS' License revenue was $26MM in 2Q17, down 11% versus 2Q16. The decrease was primarily due to lower license revenue from the DCI segment due to the timing of certain OEM renewal agreements. Maintenance and Service revenue was $68MM, flat to last year.

$PRGS {{ '2017-06-28T21:27:26+0000' | timeago}} • Webcast

$PRGS stated that while the market for Kinvey’s BaaS offering is mature, the company does not expect a meaningful revenue contribution from this for FY17. $PRGS believes that the Kinvey acquisition combined with its advanced machine learning capabilities and data connectivity products results in a best-of-breed product portfolio.

$PRGS {{ '2017-06-28T20:53:35+0000' | timeago}} • Announcement

$PRGS' BoD declared a quarterly dividend of $0.125 per share of common stock payable on September 15, 2017 to shareholders of record as of September 1, 2017.

$PRGS {{ '2017-06-28T20:51:58+0000' | timeago}} • Announcement

For FY17, $PRGS expects revenue to be $390-395MM and GAAP diluted EPS to be $0.66-0.73. Adjusted revenue is expected to be $391-396MM and adjusted diluted EPS is expected to be $1.73-1.78 in FY17. For 3Q17, $PRGS expects revenues to be $93-96MM and GAAP diluted EPS to be $0.17-0.19. Adjusted diluted EPS is expected to be $0.41-0.43 in 3Q17.

$PRGS {{ '2017-06-28T20:44:41+0000' | timeago}} • Announcement

$PRGS reported an increase in 2Q17 earnings. Net income was $10.3MM or $0.21 per share compared to $7.3MM or $0.14 per share in 2Q16. Adjusted net income was $20.5MM or $0.42 per share in 2Q17. Revenue was $93.2MM, down 3% YoY on an actual currency basis and 2% on a constant currency basis.

$PRGS {{ '2017-06-28T20:30:19+0000' | timeago}} • Webcast

$PRGS purchased Kinvey, a privately-held company based in Boston and leader in Backend as a Service (BaaS) technology, for $49MM in cash. This acquisition is a key part of the Progress strategy to provide the best platform to build and deliver modern cognitive-first applications.

$PRGS {{ '2017-04-25T21:54:06+0000' | timeago}} • Announcement

$PRGS appointed Dmitri Tcherevik to the role of Chief Technology Officer. In his role, Dmitri will lead Progress' technology vision, strategy and evolution across the entire portfolio of Progress products. Dmitri is a serial entrepreneur, having founded and run two successful technology start-ups.

$PRGS {{ '2017-03-30T12:16:48+0000' | timeago}} • Announcement

$PRGS named chief accounting officer Paul Jalbert as the new CFO, effective immediately. Mr. Jalbert replaces CFO Kurt Abkemeier, who is leaving the company.

$PRGS {{ '2017-03-30T12:09:36+0000' | timeago}} • Announcement

$PRGS completed the acquisition of DataRPM, for a purchase price of $30MM, with $28.3MM paid in cash, and $1.7MM payable to DataRPM's founders in the form of restricted stock.

$PRGS {{ '2017-03-29T21:42:32+0000' | timeago}} • Webcast

$PRGS Application Development and Deployment segment total bookings were $18MM for 1Q17, down 4% YoY, impacted by slightly lower bookings from certain Telerik products. However, renewals of the company's development tool products were strong and in line with expectations.

$PRGS {{ '2017-03-29T21:30:06+0000' | timeago}} • Webcast

By geography, $PRGS' North America revenue in 1Q17 was $51MM, up 2% YoY, helped by license revenue increases in open edge and DCI. On a constant currency basis, EMEA revenue was $31MM, flat to last year. Latin America revenue was $4MM, up 20% due to higher open edge maintenance renewals, while APJ revenue was up 3% at $6MM.

$PRGS {{ '2017-03-29T21:15:27+0000' | timeago}} • Webcast

$PRGS announced the appointment of its new CFO Paul Jalbert. In 1Q17, the company's core segments grew by low-to-mid single digit YoY. However, the company's expectation is still for flattish revenue from its businesses over time.

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