UPDATE: Progress Software Posts Rise In Q4 Profit, Expects Flat Q1 Revenue

Progress Software

reported a rise in its Q4 earnings. Progress Software's quarterly earnings surged to $36 million, or $0.57 per share, from $12.2 million, or $0.19 per share, in the year-ago period. Excluding one-time items, it earned $0.23 per share. Its revenue dropped to $91.3 million, from $93.5 million. However, analysts were expecting earnings of $0.34 per share on sales of $109.4 million. The company expects flat sales for its first quarter. Progress Software shares declined 3.54% to $20.15 in the after-hours trading session.