Progress Software Corporation has reported a net income of $11.67m for fiscal fourth quarter ended November 30, 2011, a decrease of 45 percent, compared to $21.27m for the same period in 2010.

The company posted total operating expenses of $90.95m for the fourth quarter of 2011, an increase of five percent, compared to $86.96m for the same period in 2010. Gross profit was $110.14m for the fourth quarter of 2011, a decrease of eight percent, compared to $119.8m for the same period in 2010.

Total revenue was $136.34m for the fourth quarter of fiscal 2011, a decrease of six percent, compared to $145.18m for the same period of in 2010. Diluted earnings per share were $0.18 and $0.31 for the fiscal fourth quarter in 2011 and 2010 respectively.

For the fiscal year ended November 30, 2011, net income was $58.76m, an increase of 21 percent, compared to $48.57m for the same period in 2010.

The company posted total operating expenses of $342.07m, for the fiscal 2012, a decrease of six percent compared to $362.12m for the same period in 2010. Gross profit was $430.3m, an increase of zero percent, compared to $429.79m for the same period in 2010.

Total revenue was $533.59m for the fiscal fourth quarter of 2011, an increase of one percent, compared to $529.12m for the same period in 2010.

Jay Bhatt, president and CEO of Progress Software, said: “The results for the fourth quarter met expectations, but they reflect challenges the company is facing in its ongoing transformation.

“We continue our investments in the EBS business segment as we enter 2012, and are optimistic about our growth potential in the second half of the year as more and more business leaders see how our offerings can increase their operational responsiveness. Progress is well positioned to be the leader in the emerging intelligent business operations segment.”

Have your say and discuss with your peers on the InfoGrok community.

Source:http://www.infogrok.com/index.php/technology-companies/progress-software-q4-net-income-down-45.html

Progress Software Corp. (PRGS) said Tuesday its fourth-quarter profit plunged 45 percent from last year due mainly to a six percent decline in revenues. Nevertheless, adjusted earnings which exclude items topped Wall Street estimates, as did sales.

Looking ahead to the first quarter, Progress has detailed a weak outlook, with both adjusted earnings and revenue indicated to miss Street expectations. PRGS stock lost more than 7.5 percent in extended session on the Nasdaq, following the news.

The Bedford, Massachusetts-based company reported fourth-quarter net income of $11.7 million or $0.18 per share, compared to $21.3 million or $0.31 per share last year.

Excluding items, non-GAAP earnings for the quarter was 21.5 million or $0.34 per share, compared to $32.2 million or $0.47 per share a year ago.

On average, five analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts’ estimates typically exclude special items.

Progress reported fourth-quarter revenue of $136.3 million, a 6 percent decline from $145.2 million last year. Wall Street analysts expected sales for $133.54 million for the quarter.

CEO Jay Bhatt said the results reflect challenges the company is facing in its ongoing transformation. He said the company is continuing investments in the Enterprise Business Solutions segment and expects growth in the second half 2012.

During the quarter, the company purchased $65 million of its common stock, and also closed the purchase of Corticon Technologies Inc., a Business Rules Management System vendor.

Progress sees first-quarter adjusted earnings of $0.25 per share and adjusted revenues of $120 million – a year-over-year decline of about 40 percent and 10 percent respectively.

Street analysts currently expect earnings of $0.38 per share and revenues of $132.04 million.

PRGS closed Tuesday’s trade at $19.80, up $0.45 or 2.33%, on the Nasdaq. In after hours, the stock dropped $1.50 or 7.58%.

Source:http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201201031841rttraderusequity_1032&title=progress-software-profit-tumblesdetails-weak-q1-outlookstock-down-update

Progress Software Corporation PRGS -3.21% , a leading software provider that enables companies to be operationally responsive, announced it has named Henry Hicks as Industry Vice President, Supply Chain. A long-time advocate for the optimization of the virtual supply chain, Hicks will drive the market strategy and solution development for Progress Software’s global Supply Chain Practice, helping customers gain real-time foresight into disruptions and offering them the ability to conquer supply chain complexity and meet service level agreements.

Hicks’ unparalleled expertise in sales and marketing strategy and supply chain management has been honed through a breadth of strategic positions. Recently, Hicks was the Vice President of Worldwide Services Sales and Marketing for Lenovo Computers and was responsible for long-term growth strategies and overall sales performance of the division. Prior to Lenovo, Hicks was a Vice President at Capgemini Consulting and led the West Supply Chain Practice, where he advised clients on how to optimize and virtualize their supply chains. He has also held key roles with Deloitte, Dell, Frito Lay and UPS.

Jay Bhatt, president and chief executive officer, Progress Software said: “Business leaders need real visibility to mitigate risks and take quick, decisive actions, and the supply chain presents an enormous opportunity to realize these benefits. Hicks’ expertise and leadership will help Progress customers deploy supply chain technologies that enable them to become more operationally responsive and build market share.”

Hicks earned his bachelor’s degree in Operations Management from Auburn University and his master’s of business administration from Emory University.

About Progress Software Corporation

Progress Software Corporation PRGS -3.21% is an independent enterprise software company that enables businesses to be operationally responsive to changing conditions and customer interactions as they occur — to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class enterprise software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment — all supporting on-premises and SaaS/Cloud deployments. Progress maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.

Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

Source:http://www.marketwatch.com/story/progress-software-names-henry-hicks-supply-chain-industry-vice-president-2011-12-28

Bangalore-based Omnesys Technologies, provider of software for securities markets worldwide, has tied up with Progress Software, a software provider that enables enterprises to be operationally responsive, “to deliver a trading platform that enables Indian traders to be more competitive,” a press statement said.

The partnership will “leverage the Omnesys customer base comprising more than 200 of the top financial institutions and exchanges across India with the Omnesys NEST front office service and the algorithmic trading platform, Progress Apama,” the statement said.

“The strategic partnership will augment our offerings in the fast-growing market for advanced algorithmic trading software in India,” said Mr Shrikant Pandit, Managing Director, Omnesys.

Omnesys’ automated trading products and algorithms are widely used among the proprietary and arbitrage trading community and are approved for use on exchanges throughout India.

Omnesys is also a provider of Institutional Order Management solutions — providing Fix, direct market access (DMA), algorithmic solutions to top multinational and leading domestic investment banks, and brokerage firms.

“As interest in algorithmic and high frequency trading continues to grow, financial institutions across the globe are seeing the need to provide customised services for their clients. The key to success is to offer customised and localised algorithmic capabilities to their clients using the Apama product; while Omnesys provides its clients with one more that tool they need to remain competitive,” Dr John Bates, Chief Technology Officer, Progress Software and founder of Progress Apama, said.

Source:http://www.thehindubusinessline.com/industry-and-economy/info-tech/article2635932.ece

Progress Software Corporation PRGS -0.05% , a leading enterprise software provider that enables companies to be operationally responsive, today announced the availability of a pre-integrated enterprise integration solution that reduces the time it takes to deploy IT infrastructure and to accelerate the time it takes to derive value from the implementation. The pre-integrated enterprise integration solution comprises the Progress(R) Sonic(R) Enterprise Service Bus (ESB) and the Progress(R) DataXtend(TM) Semantic Integrator (SI) and delivers enhanced IT architectural flexibility, which enables a dramatically faster response to business change.

The pace of business continues to accelerate and IT departments are struggling to respond fast enough to the demands of the business. Traditional integration solutions and first generation SOA have not only failed to deliver on their promise, but have exposed more limitations of how data and policy changes are handled. Enterprises can use the pre-integrated Sonic ESB and DataXtend SI enterprise solution alone or combine it with the Progress Actional(R) SOA Management platform to eradicate these hurdles. This approach ensures continuous delivery of business services that will not impact their existing applications and, eliminates the limitations of SOA by using data semantics, end-to-end visibility and IT governance.

As a pre-integrated offering, the DataXtend SI and Sonic ESB now provide a tightly integrated development and deployment environment that ensures improved IT developer productivity and superior enterprise service delivery. In addition, DataXtend SI users have access to the comprehensive Sonic ESB platform for improved performance and data service scalability.

Additionally, the new Sonic ESB includes improved visibility and impact analysis capabilities. By facilitating the visualization of the interdependencies of service interactions or data exchanges, developers can more easily make changes to critical integration applications without negatively impacting their IT production systems.

Colleen Smith, vice president of Platforms and Integration, Progress Software said: “Delivering pre-integrated enterprise integration solutions empowers CIOs and enterprise architects to respond to change within their IT infrastructure quickly and cost-effectively so that they can derive value and a return on their investment quickly, without disrupting current systems or losing data quality. Businesses require agility in their IT infrastructure and by offering the Progress Sonic ESB pre-integrated with the Progress DataXtend Semantic Integrator, users can now support SOA with real-time data allowing them to respond faster to new business requirements.”

Bloor Research founder and analyst, Robin Bloor, added: “The initial approach to SOA delivered a margin of agility, particularly when it came to application integration, however, as SOA adoption increased limitations soon arose that impeded an organizations ability to respond rapidly to the increased pace of business change. For IT to be successful in supporting business, it has to evolve its approach to SOA to be more responsive, particularly in how it handles change with regard to data semantics and policy.”

Business of all sizes and across industries are reaping the benefits of responsive business integration to improve upon the integration infrastructure that connects people, process, data and applications that underpin critical business services.

Source:http://www.marketwatch.com/story/progress-software-takes-on-soa-limitations-with-pre-integrated-enterprise-integration-solution-enabling-faster-response-to-business-change-2011-09-21?reflink=MW_news_stmp

Progress Software Corporation /quotes/zigman/77178/quotes/nls/prgs PRGS -1.94% , a leading software provider that enables enterprises to be operationally responsive today announced the appointment of John (Jack) R. Egan to the company’s Board of Directors effective immediately. Mr. Egan’s appointment expands the Progress Software Board of Directors to eight members.

“We are very pleased to welcome Jack to the Progress Board. His deep understanding of the technology marketplace, overall business acumen and far reaching contacts will be instrumental in furthering Progress toward its goals,” said Richard D. Reidy, President and Chief Executive Officer.

Mr. Egan, age 53, is managing partner of Egan-Managed Capital, a Boston based venture capital fund he founded in October 1998 that specializes in technology and early stage investments. From October 1986 until September 1998, Mr. Egan served in a number of executive positions with EMC Corporation, including Executive Vice President, Products and Offerings, Executive Vice President, Sales and Marketing, Executive Vice President, Operations and Executive Vice President, International Sales.

Mr. Egan also serves on the Board of Directors for other publicly traded and privately held companies. They include: EMC Corporation /quotes/zigman/225273/quotes/nls/emc EMC +1.60% , where he has served on the Board of Directors for almost twenty years; VMWare, Inc. /quotes/zigman/464645/quotes/nls/vmw VMW -2.06% ; NetScout Systems, Inc. /quotes/zigman/66378/quotes/nls/ntct NTCT -0.88% , where he serves as Lead Director. Mr. Egan also serves in a variety of leadership roles within the Board of Directors of several privately held technology companies, including HighRoads Corporation, Platform Computing Corporation and Healthrageous, Inc.

“I’ve followed Progress and their success over the years, and now glad to be part of an organization committed to growth and improving its legacy,” Egan said.

Mr. Egan received a Bachelor of Science degree in Marketing and Computer Science from Boston College and serves as a Member of the Board of Trustees.

Progress Software Corporation

Progress Software Corporation /quotes/zigman/77178/quotes/nls/prgs PRGS -1.94% is a global software company that enables enterprises to be operationally responsive to changing conditions and customer interactions as they occur — to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class infrastructure software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment — all supporting on-premises and SaaS/Cloud deployments. Progress Software maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership.

Source:http://www.marketwatch.com/story/progress-software-expands-board-of-directors-to-eight-members-and-appoints-john-r-egan-former-emc-corporation-executive-and-current-board-member-2011-09-12

Progress Software Corporation PRGS +1.03% , a leading software provider that enables enterprises to be operationally responsive, today announced that Betfair, the world’s largest international sports exchange, has signed a deal to deploy the Progress(R) SonicMQ(R) messaging platform for high availability and fault tolerant enterprise messaging.

The SonicMQ platform is the industry’s most robust and resilient standards-based enterprise messaging systems, delivering unmatched service availability, high performance, exceptional management capabilities and unsurpassed scalability for vast and sophisticated enterprise deployments. The SonicMQ platform also provides the communications infrastructure for the market-leading Progress Sonic(TM) enterprise service bus (ESB).

The SonicMQ platform will be used as Betfair’s messaging solution to aid its expansion into new markets. Its selection of the SonicMQ enterprise messaging platform is a key element of a three year GBP 25 million technology investment programme to deliver a more cost-efficient, robust and flexible platform and support future international growth, following Betfair’s recent initial public offering (IPO).

With over 3 million customers in the UK and abroad, Betfair selected the SonicMQ platform for its high volume message delivery coupled with best in class low latency performance. The solution will address the challenging wide area network conditions that can adversely impact the delivery of data.

Betfair can now benefit from the SonicMQ platform’s high performance, guaranteed message delivery under these challenging conditions, alongside an increase in network uptime, allowing betting markets to stay open for longer periods.

Hugh Fahy, Development Director at Betfair, explained: “With our ambitious company growth plans a need arose for a single, consolidated and highly reliable messaging solution. We needed a partner we could trust, who understood both the demands of the dynamic business environment we operate in, and our need for very tight service level agreements (SLAs).”

In the proof of concept stage, the SonicMQ platform processed over 5,000 messages per second under extreme packet-loss conditions over an unreliable network — and did not lose a single message.

Hub Vandervoort, Chief Technology Officer, Enterprise Infrastructure at Progress Software, commented: “The Progress SonicMQ platform is a robust messaging solution that raises the bar for high availability and fault-tolerant messaging, reduces operational risk and allows 24/7 responsiveness with zero downtime. We believe this solution will ensure that a single and clear messaging standard is put in place that will aid Betfair’s further success and expansion into new markets.”

About Betfair: ( www.betfair.com ) Betfair is one of the world’s largest international online sports betting providers and pioneered the betting exchange in 2000. Driven by cutting-edge technology, Betfair enables customers to choose their own odds and bet against each other. The company now processes over five million transactions a day from its three million registered customers around the world. In addition to sports betting, Betfair offers a portfolio of innovative products including casino, exchange games and poker.

Betfair has twice been named the UK’s ‘Company of the Year’ by the Confederation of British Industry and has won two prestigious Queen’s Awards for Enterprise, being recognised for Innovation in 2003 and most recently for International Trade in 2008. Betfair currently employs over 2,000 people worldwide. The company holds betting licences in Gibraltar, the US, Tasmania, Italy and Malta.

Source:http://www.marketwatch.com/story/progress-software-selected-by-betfair-for-global-expansion-drive-2011-06-21?reflink=MW_news_stmp