progress software corp (PRGS) Key Developments
Progress Enriches Digital Experience for Global Enterprises with Latest Telerik Sitefinity Release
Jul 21 15
Progress announced the latest release of Telerik Sitefinity CMS and Digital Experience Cloud (DEC). This newest release improves multi-site synchronization and predictive analytics, provides richer development tools and extends content tracking and personalization to mobile apps. As part of the release, the company also announced new translation features and a strategic alliance with Lionbridge. With global content proliferating exponentially, the ability to speak with customers in their preferred language is a must for any enterprise. Telerik Sitefinity CMS is equipped with translation management features to simplify and automate the content translation process when working with third-party translation agencies. By providing out-of-the-box integration with translation services, Telerik Sitefinity CMS minimizes the effort of managing multiple translation tasks, improving speed, reducing the risk of errors and providing centralized control of all translation tasks. Telerik Sitefinity CMS automatically integrates with Lionbridge Freeway and translations.com. Implementers can also easily add translation services of their choice. In addition, with Telerik Sitefinity CMS, content authors can easily determine which content items to send for translation, and to which languages; review the status of all sent translations; preview all returned translations before publishing; and handle any errors or conflicts prior to publication. With Telerik Sitefinity CMS, administrators can schedule content synching to different sites at set times, with notifications and automatic retries if syncs fail, reducing effort and improving site quality.
Progress Software Corporation Announces New Release of Web Debugging Proxy, Telerik Fiddler
Jul 2 15
Progress Software Corporation has announced the new release of Telerik Fiddler, a web debugging proxy for any browser, system or platform. New Support and Licensing options enable enterprises to leverage the power of the Telerik Fiddler proxy and allow developers to enhance their own applications with the core engine that powers the debugger they know and love. With the Telerik FiddlerCore product, organizations can now build applications to capture, modify, replay and save web traffic. With this update, Telerik, a Progress company, is offering additional license types to enable customers to affordably integrate the Telerik FiddlerCore product into their internal business systems as well as their commercially distributed applications.
Progress Software Corporation Appoints Jerry Rulli as Chief Operating Officer
Jul 1 15
Progress Software Corporation announced that Jerry Rulli, president, OpenEdge Business Unit, has been appointed Chief Operating Officer. As Chief Operating Officer, Rulli will be responsible for the alignment of business unit priorities, go-to-market strategies and ensuring operational excellence across the company. Rulli will continue to report to Phil Pead, President and CEO. Effective immediately, Rulli will assume responsibility for driving the operations of the three Progress business units. Rulli will continue to manage OpenEdge on a day-to-day basis, Michael Benedict, president, will continue to lead Data Connectivity and Integration, and Karen Tegan Padir, president, will continue to lead Application Development and Deployment. Benedict and Padir will now report to Rulli. Rulli joined Progress in August 2014 as President, OpenEdge Business Unit, and in that capacity, has led the company's business through three quarters of solid growth. Rulli has also been instrumental in expanding Progress partner programs and international presence and in leveraging the services capabilities acquired as part of the BravePoint acquisition to provide partners with a path to modernization.
Progress Software Corporation Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2015; Revised Earnings Guidance for the Fiscal Year Ending November 30, 2015; Provides Earnings Guidance for the Third Quarter Ending August 31, 2015
Jul 1 15
Progress Software Corporation announced consolidated earnings results for the second quarter and six months ended May 31, 2015. Revenue in the quarter was $88.8 million compared to $80.8 million in the same quarter last year, a year over year increase of 10% on an actual currency basis and 19% on a constant currency basis. Loss from operations was $2.7 million compared to income from operations of $20.3 million in the same quarter last year. Loss income before income taxes was $3.760 million against income before income taxes of $20.151 million a year ago. Net income was $5.8 million compared to $12.8 million in the same quarter last year; and diluted earnings per share were $0.11 compared to $0.25 in the same quarter last year. On a non-GAAP basis in the fiscal second quarter of 2015: revenue was $100.9 million compared to $80.8 million in the same quarter last year; income from operations was $27.8 million compared to $28.4 million in the same quarter last year; net income was $18.1 million compared to $19.2 million in the same quarter last year; diluted earnings per share was $0.35 compared to $0.37 in the same quarter last year; and free cash flow was $17.6 million compared to $15.6 million in the same quarter last year. Operating cash flow was approximately $21 million compared to $17 million a year ago. The increase was primarily due to improvements in working capital, driven largely by an increase in deferred revenue as a result of the Telerik acquisition. Adjusted free cash flow was approximately $19 million for the second quarter compared to $16 million in second quarter of 2014. Capital expenditures were $3.147 million against $1.519 million a year ago. The second quarter non-GAAP EPS decreased 5%, primarily as a result of the negative impact of currency translation. For second quarter, the negative impact of currency translation on non-GAAP results compared to second quarter of 2014 exchange rates was year-over-year revenues were negative $7.4 million and year-over-year EPS was a negative $0.06.
For the six months, the company reported total revenue of $170.198 million against $155.365 million a year ago. Loss from operations was $13.921 million against income from operations of $34.282 million a year ago. Loss income before income taxes was $14.014 million against income before income taxes of $34.159 million a year ago. Net income was $4.798 million or $0.09 per diluted share against $23.899 million or $0.46 per diluted share a year ago. Net cash flows from operating activities were $57.931 million against $42.540 million a year ago. Capital expenditures were $5.788 million against $8.037 million a year ago. On a non-GAAP basis, the company reported total revenue of $196.305 million against $155.365 million a year ago. Income from operations was $48.231 million against $49.803 million a year ago. Net income was $33.266 million or $0.65 per diluted share against $33.782 million or $0.65 per diluted share a year ago. Year-to-date adjusted free cash flow for 2015 is $55 million.
The company revised earnings guidance for the fiscal year ending November 30, 2015: Non-GAAP revenue is expected to be between $415 million and $425 million (unchanged); non-GAAP earnings per share is expected to be between $1.45 and $1.52 compared to previously expected earnings per share of $1.35 and $1.45; non-GAAP operating margin is expected to be approximately 28% compared to previously expected operating margin of approximately 27%; free cash flow is expected to be between $92 million and $95 million compared to previously expected free cash flow of $90 million and $93 million; and non-GAAP effective tax rate is expected to be approximately 33% compared to previously expected tax rate between 33% and 34%. The company expects GAAP revenue in the range of $380.0 million and $390.0 million, GAAP income from operations in the range of $11.8 million and $15.8 million, non-GAAP income from operations in the range of $114.2 million and $118.2 million, GAAP net income in the range of $6.2 million and $8.8 million, non-GAAP net income in the range of $74.9 million and $78.2 million and GAAP diluted earnings per share in the range of $0.12 and $0.17.
The company provided earnings guidance for the fiscal third quarter ending August 31, 2015: Non-GAAP revenue is expected to be between $101 million and $104 million; and non-GAAP earnings per share is expected to be between $0.35 and $0.38. The company expects GAAP revenue in the range of $95.0 million and $98.0 million and GAAP diluted earnings per share in the range of $0.07 and $0.04.
VoltDB Selects Progress DataDirect to Advance Rapid Time to Value for Data Connectivity for its Customers
Jun 29 15
Progress announced that VoltDB has selected Progress DataDirect OpenAccess SDK to increase access to business intelligence (BI) tools that allow VoltDB customers to visualize and access fast-moving data. Developers and the companies they support, fresh from efforts to deal with Big Data, face a new challenge: Fast Data. Fast data is the front end of Big Data, and presents opportunities to extract value from fast-moving data in real time. VoltDB handles the most challenging workloads and operations at tremendous speeds with limitless scalability and zero data loss. In addition to high-write workloads and per-event decisioning, VoltDB’s customers want to visualize and access fast-moving data through standard analytics and business intelligence (BI) solutions such as Tableau and MicroStrategy. To enable that connectivity, VoltDB developed their new ODBC driver using the Progress DataDirect OpenAccess SDK. DataDirect OpenAccess SDK makes any data source SQL accessible via common standards such as ODBC, JDBC and ADO.Net and enables developers to rapidly implement data-source specific code. VoltDB chose the Progress DataDirect OpenAccess driver development kit because of the unquestioned leadership and success demonstrated by Progress and their DataDirect technology within the market, as well as the enterprise class features including security, performance, reliability and scalability not found in other drivers or SDKs in the market.