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September 16, 1998

COMPANY RESULT: PROGRESS SOFTWARE CORP

By CBR Staff Writer

Progress Software Corp, the Bedford, Massachusetts-based application development tools supplier, has reported third- quarter net income of $6.2m on revenue up 30% at $59.5m, compared to a net loss of $9.4m a year ago. Nine-month net income was $14.4m on revenue up 25% at $170.7m, against a loss of $5.3m last year. Earnings per share were $0.31 and $0.75 for the quarter and nine months, respectively. Year-ago results include one-time charges of $11.5m related to the acquisition of Apptivity Corp.

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