Progress Software PRGS reported a better-than-expected third-quarter profit.
Progress Software's quarterly net income from continuing operations dropped to $5.8 million, or $0.12 per share, versus $9.1 million, or $0.14 per share, in the year-ago period. Excluding items, Progress Software earned $0.31 per share.
Its revenue declined 14% to $107.2 million. However, analysts were expecting earnings of $0.24 per share on revenue of $112.3 million.
Progress Software shares gained 3.34% to $19.80 in after-hours trading.
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