Progress Software (PRGS) this afternoon reported revenue for its fiscal second quarter ended May 31 of $127.7 million, up 9% from a year ago, but below the Street consensus at $130 million. Non-GAAP EPS of 59 cents a share beat the Street by a nickel a share.
For FY Q3 ending in August, the company sees revenue of $12 million to $124 million and non-GAAP profits of 53-56 cents; the Street has been forecasting $132.6 million and 54 cents.
For the November 2010 fiscal year, Progress expects revenue of $510 million to $520 million on a non-GAAP basis, with non-GAAP EPS of $2.28 to $2.35 a share; Street consensus has been for $538.2 million and $2.30.
In late trading, PRGS is down $2.68, or 8.5%, to $28.82.
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