Earnings Preview: Progress Software

Progress Software (Nasdaq: PRGS), the enterprise software maker, reports fiscal fourth-quarter and full-year results on Tuesday January 3, 2012 after the market closes. Analysts are expecting a profit of 33 cents a share on revenue of $133.54 million. A year earlier, Massachusetts-based Progress Software earned 47 cents a share on revenue of $145.26 million,

Estimates for the fourth quarter range from 30 cents to 37 cents a share with revenue estimates ranging from $132 million to $138.5 million. In the last 90 days, the consensus estimate on Progress Software's fourth-quarter profit has been trimmed to 33 cents from 36 cents. No revisions have been made to those estimates in the past month.

Shares of Progress plunged 31.55% in 2011, but gained almost 10.3% in the fourth quarter. The shares currently trade at 9.7 times forward earnings and at almost two times book value. The 52-week range on the stock is $16.71-$31.47 and the average analyst price target is $24, well above where Progress closed 2011.

What to Watch For: Any updates on guidance for the fiscal first quarter and 2012. Analysts are expecting a profit of 38 cents on sales of $132 million for the first quarter and $1.64 per share on revenue of almost $553.72 for the full year.