View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 21, 1997updated 03 Sep 2016 1:01pm

PROGRESS TAKES A $11.5M CHARGE AS IT ABSORBS APPTIVITY

By CBR Staff Writer

Application development tools operation, Progress Software Corp is attributing its year end loss to the charge incurred relating to its purchase of Apptivity Corp (CI No 3,194). Bedford, Massachusetts-based Progress reported a loss of $1.6m for the twelve months to November 30, but argues that its results have been damaged by a non recurring charge of $11.5m relating to the buy of Apptivity for its Java database tools. The company also suffered in the fourth quarter as a result of the strength of the dollar in 1997, but says its now in a good position for the following year. The year ahead will see the initiating of a strategy for developing and deploying new applications, providing it with an opening to migrate existing applications to standards- based architectures, it says.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU