Thu, Jan. 14, 3:48 PM
- Progress Software (PRGS +7.6%) is exploring a sale with a small group of buyout firms, Reuters reports.
- The move comes shortly after a revenue miss but strong FY16 revenue guidance of $427-$433M above $427.9M consensus and $1.59-$1.65 EPS guidance versus $1.56 consensus.
- Progress Software CFO recently noted the company “achieved organic growth in all of our business segments on a currency adjusted basis” in Q4, with OpenEdge revenue rising 8% in 2015 to $320M Y/Y.
Oct. 1, 2015, 5:35 PM
Oct. 1, 2015, 5:09 PM
- In addition to missing FQ3 revenue estimates (while beating on EPS), Progress Software (NASDAQ:PRGS) is guiding for FQ1 revenue of $113M-$118M, below a $121.6M consensus. EPS guidance is healthier: $0.47-$0.51 vs. a $0.47 consensus.
- The enterprise software firm has also announced a $100M buyback, good for repurchasing 9% of shares at after hours levels.
- No explanation is given in the FQ3 report for the sales miss or guidance. License revenue rose 21% Y/Y to $31.8M; maintenance/services revenue rose 19% to $62.8M. GAAP operating expenses rose 36% Y/Y to $70.9M. Progress ended FQ3 with $218M in cash, and $144M in long-term debt. The deferred revenue balance stood at $131M.
- Shares have fallen to $22.29 after hours.
- FQ3 results, PR
Jul. 1, 2015, 4:43 PM
- In addition to beating FQ2 estimates, Progress Software (NASDAQ:PRGS) has guided for FQ3 EPS of $0.35-$0.38 (favorable to a $0.35 consensus) and FY16 (ends Nov. '16) EPS guidance of $1.45-$1.52 (above a $1.42 consensus).
- The app development software provider expects FQ3 revenue of $101M-$104M and FY16 revenue of $415M-$425M, in-line with consensus estimates of $103.2M and $419.2M.
- Also: Progress has promoted Jerry Rulli, until now president of the company's OpenEdge software unit, to the newly-created position of COO. He'll now be responsible for the operations of all 3 of Progress' business units - OpenEdge, data connectivity/integration, and app development/deployment. The presidents of the last two units will report to Rulli.
- Progress has risen to $29.70 AH.
- FQ2 results, PR
Jan. 13, 2015, 5:42 PM
Sep. 25, 2014, 5:35 PM
Jun. 26, 2014, 5:34 PM
Jun. 26, 2014, 4:19 PM
- Progress Software (PRGS): FQ2 EPS of $0.37 beats by $0.03.
- Revenue of $80.82M (-1.1% Y/Y) beats by $4.34M.
- Shares +8.00% AH.
Jan. 9, 2014, 4:22 PM
- Progress Software (PRGS): FQ4 EPS of $0.43 beats by $0.02.
- Revenue of $91.0M (+5% Y/Y) beats by $0.16M. Shares -9.8% AH. (PR)
Dec. 12, 2013, 9:56 AM
- Intel (INTC +1.1%) has been upgraded to Neutral by Nomura. Citi and Drexel Hamilton upgraded shares last Friday.
- Micron (MU +2%) has been upgraded to Buy by Nomura. Shares fell yesterday following an MKM report stating SK Hynix's Wuxi, China fab will be operational sooner than expected.
- Xilinx (XLNX +1.7%) has been upgraded to Buy by Nomura. In addition, both Xilinx and rival Altera (ALTR +0.6%) have been started at Outperform by JMP.
- iRobot (IRBT +2.2%) has been upgraded to Neutral by JPMorgan.
- Synchronoss (SNCR +6.8%) has been upgraded to Strong Buy by Raymond James.
- Teradata (TDC -2%) has been cut to Sector Perform by RBC. Shares are making new 52-week lows.
- Texas Instruments (TXN -0.7%) and SanDisk (SNDK -2.3%) have been cut to Reduce by Nomura. TI provided an in-line mid-quarter update on Monday, while SanDisk fell in tandem with Micron yesterday.
- Sigma Designs (SIGM -17.8%) has been cut to Hold by Needham after missing FQ3 estimates.
- Progress Software (PRGS -7.5%) has been cut to Market Perform by JMP.
Sep. 25, 2013, 4:24 PM
- Progress Software (PRGS): FQ3 EPS of $0.27 beats by $0.03.
- Revenue of $77.6M beats by $0.9M. Shares +2.36% AH. (PR)
Jun. 26, 2013, 5:30 PM
Jun. 26, 2013, 4:30 PMProgress Software (PRGS): FQ2 EPS of $0.27 beats by $0.06. Revenue of $81.7M beats by $2.66M. Shares +2.25% AH. (PR) | Jun. 26, 2013, 4:30 PM
Jan. 3, 2013, 4:17 PMProgress Software (PRGS): Q4 EPS of $0.42 beats by $0.09. Revenue of $121.7M beats by $5.39M. Shares -2.8% AH. (PR) | Jan. 3, 2013, 4:17 PM
Dec. 4, 2012, 5:01 PM
Tibco (TIBX) -14.7% AH after warning it expects to report FQ4 (ended Nov. 30) revenue of $292M-$295M and EPS of $0.37-$0.38, below a consensus of $316M and $0.44. Tibco blames a mix of soft government spending, Sandy-related deal delays, and poor execution in its infrastructure (i.e. middleware) business, particularly in the Americas. The FQ4 report arrives on Dec. 20. It could be a rough day for enterprise software stocks tomorrow: QLIK -3.7%. PRGS -1.4%. RHT -2.3%. INFA -1.1%. CTXS -1%. ORCL -0.9%. SAP -0.8%.| Dec. 4, 2012, 5:01 PM
Oct. 18, 2012, 12:25 PM
Progress Software (PRGS +6.1%) pops after announcing a deal to sell 4 product lines to private software firm Trilogy Enterprises for $114M. Progress says the product lines have generated $83M in sales this year, and that their divestment will leave only two more lines to be sold as part of the company's efforts to rid itself of "non-core" offerings. (CEO resignation/guidance withdrawal)| Oct. 18, 2012, 12:25 PM