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The Bedford, Mass., maker of application infrastructuresoftware (Nasdaq: PRGS) reported Thursday seconr quarter revenue of $117 milliojn and net income of $6.9 or 17 cents per share. Withouy the impact of currency fluctuations, Progresws estimates quarterly revenue would have been up 1 percent year over Analysts were expecting earnings of 38 cents per share on revenueof $119 million. “Our results reflect the difficult economic environment andunfavorable year-over-yea currency rates present in (the second quarter), however we met our revenuw and earnings guidance.
Moreover, continued cost containmenrt measures undertaken during the quarter allowed us to achievde verysolid profitability,” said Progress Software president and CEO Rick Reidy in a prepared writteh statement. “We are well positioned competitivelyg in this difficult economic environment with products that help our customerswgain agility, reduce costs and improve operational The company expects to generate revenued of between $120 million and $123 million in its thirrd quarter and earnings per share of 38 centxs to 41 cents. Shares of Progress Software were down 15 centsto $22.52 in morning trading.
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