Derniers communiqués de presse

~ hausse de 9% du chiffre d’affaires total (non-GAAP); de 51% du bénéfice dilué par action; de 25% du chiffre d’affaires des Enterprise Business Solutions ~

Duffel - 07. July 2010

Progress Software Corporation (NASDAQ : PRGS), fournisseur mondial de logiciels d'infrastructure couvrant tous les aspects du développement, du déploiement, de l'intégration et de la gestion d'applications professionnelles, présente ses résultats du second trimestre clos le 31 mai 2010. Sur la base des principes comptables communément acceptés (également appelés base GAAP pour Generally Accepted Accounting Principles), le chiffre d’affaires s’élève à 127,7 millions de dollars pour ce trimestre, soit une hausse de 9% par rapport aux 117,0 millions du second trimestre 2009. Sur une base non-GAAP, le chiffre d’affaires s’élève à 128,3 millions de dollars, soit une hausse de 9% par rapport à l’année précédente. Le revenu des licences a augmenté de 15% pour atteindre 44,2 millions de dollars contre 38,5 millions de dollar au 2ème trimestre 2009.

Vous trouverez l’entier communiqué de presse en anglais ci-dessous.

PRESS ANNOUNCEMENT

PROGRESS SOFTWARE REPORTS 2010 SECOND QUARTER RESULTS

Non-GAAP Total Revenue Up 9%; Non-GAAP Earnings Per Share Up 51%; Enterprise Business Solutions Revenue Up 39%

BEDFORD, Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive announced today results for its second quarter ended May 31, 2010. On a generally accepted accounting principles (GAAP) basis, revenue for the quarter was $127.7 million, up 9 percent from $117.0 million in the second quarter of fiscal 2009. On a non-GAAP basis, revenue totaled $128.3 million, up 9 percent compared to the same period a year ago. Software license revenue increased 15 percent to $44.2 million from $38.5 million in the same quarter last year.

On a GAAP basis:

Operating income increased 97 percent to $22.7 million in the second quarter of fiscal 2010 as compared to $11.5 million in the same quarter last year;
Net income increased 176 percent to $19.1 million from $6.9 million in the same quarter last year;
Diluted earnings per share increased 153 percent to 43 cents in the second quarter of fiscal 2010 as compared to 17 cents in the same quarter a year ago.

On a non-GAAP basis:

Operating income increased 48 percent to $35.9 million in the second quarter of fiscal 2010 as compared to $24.3 million in the same quarter last year;
Non-GAAP net income increased 64 percent to $26.3 million from $16.1 million in the same quarter last year;
Non-GAAP diluted earnings per share increased 51 percent to 59 cents in the second quarter of fiscal 2010 as compared to 39 cents in the same quarter last year.

Richard D. Reidy, president and chief executive officer of Progress Software, said: “We grew total non-GAAP revenue by nine percent and increased revenue in our high-growth Enterprise Business Solutions portfolio, which includes the recently announced Progress® Responsive Process Management™ (RPM) suite, by 39 percent year-over-year. Additionally, our Application Development Platforms group, which includes the Progress OpenEdge® SaaS platform, grew by nine percent year-over-year. The company’s solid top line growth, coupled with disciplined expense management, were key factors in generating an increase in our non-GAAP earnings per share by 51 percent during the quarter.”

Reidy added: “On the products side, we launched two new solution accelerators (the Progress® Order Management Stability [OMS] and Progress® Market Surveillance and Monitoring solution accelerator) as part of our global rollout of the Progress Responsive Process Management (RPM) suite.”

Progress Software’s cash and short-term investments at the end of the second quarter totaled $261 million. Progress Software repurchased approximately 48,000 shares at a cost of $1.5 million in the second quarter of fiscal 2010. The existing re-purchase authorization, under which approximately 598,000 shares remain available for repurchase, expires on September 30, 2010.

The non-GAAP amounts primarily exclude the amortization of acquired intangibles, stock-based compensation, restructuring and acquisition-related costs, purchase accounting adjustments for deferred revenue and certain adjustments to the provision for income taxes.

The non-GAAP results noted above and the non-GAAP financial outlook for 2010 discussed below represent non-GAAP financial measures. A reconciliation of these measures to the appropriate GAAP measures for the three months ended May 31, 2010 and May 31, 2009, and the 2010 outlook, as well as further information regarding these measures, is included in the condensed financial information provided with this release.

Quarterly Highlights
·        Progress Software launched the Progress Order Management Stability (OMS) solution accelerator, which provides telecommunication service providers with the ability to gain end-to-end visibility across multiple order management systems, identify order fallout and resolve potential problems across their customer order lifecycle. The Progress OMS solution accelerator is built on the Progress Responsive Process Management (RPM) suite.

·        The company announced, during May, that it developed additional Foreign Exchange (FX) connectivity adaptors for the Progress Apama® Capital Markets Framework. The Apama platform now connects to a much wider range of single bank FX platforms (or portals) as well as a broader spectrum of FX liquidity sources, including electronic communications networks (ECNs) and inter-dealer markets. FX aggregation is a prerequisite for building numerous types of FX trading applications. It is also a key requirement for building effective algorithmic strategies, including high frequency trading.

·        Progress Software further advanced its real-time market monitoring and surveillance capabilities with the launch of the Progress Market Surveillance and Monitoring solution accelerator. This solution accelerator enables financial institutions, exchanges and market regulators to detect patterns of abusive or erroneous trading activity and take corrective action to prevent trading fraud and abuse in real-time. It is also built on the Progress RPM suite.

·        During the month, the company announced that it has added a highly compliant and cost effective data privacy solution to the Progress OpenEdge SaaS platform. With this new functionality, Progress enables full life-cycle data encryption that, for example, complies with the latest Payment Card Industry (PCI) regulations, an important requisite for the ongoing expansion of Cloud Computing.

·        Gartner placed Progress Software in the Visionary Quadrant of the first Gartner Magic Quadrant for Application Performance Monitoring featuring the Progress Actional® platform. The Actional product provides comprehensive operational and business visibility, root cause analysis, policy-based auditing, compliance, and control of services in a heterogeneous IT environment. Functionality includes visibility into real-time processing, snapshot views of individual end-to-end transactions, and dynamic controls for improving transaction processing.

·        The Progress Sonic® Enterprise Service Bus (ESB) R8.0, which combines the benefits of open standards with the feature-rich tooling native to the Progress Sonic products, was launched in the second quarter. A major highlight of the Sonic ESB 8.0 product release is its support for a RESTful (Representation State Transfer) architectural approach to integration.

·        Lufthansa launched the air travel industry’s first real-time, location-based social networking application for frequent flyers called MemberScout. The application was developed by match2blue using the Progress Apama Business Event Processing (BEP) platform.

Additional highlights can be found at: http://web.progress.com/inthenews/pressreleases.html.

Business Outlook

Progress Software is providing the following guidance for the fiscal year ending November 30, 2010:

·        GAAP revenue is expected to be in the range of $509 million to $519 million.
·        On a non-GAAP basis, revenue is expected to be in the range of $510 million to $520 million.
·        GAAP diluted earnings per share are expected to be in the range of $0.89 to $1.04.
·        On a non-GAAP basis, diluted earnings per share are expected to be in the range of $2.28 to $2.35.

Progress Software is providing the following guidance for the third fiscal quarter ending August 31, 2010:

·        On a GAAP and non-GAAP basis, revenue is expected to be in the range of $ 121 million to $124 million.
·        GAAP diluted earnings per share are expected to be in the range of 9 cents to 19 cents.
·        On a non-GAAP basis, diluted earnings per share are expected to be in the range of 53 cents to 56 cents.

The outlook for non-GAAP revenue excludes purchase accounting adjustments for deferred revenue. The outlook for non-GAAP earnings excludes the amortization of acquired intangibles, stock-based compensation, restructuring, transition and acquisition-related costs, purchase accounting adjustments for deferred revenue, certain insurance reimbursements and related tax effects.

Legal Notice Regarding Non-GAAP Financial Information

Progress Software provides non-GAAP revenue, operating income, net income and earnings per share as additional information for investors. These measures are not in accordance with, or an alternative to, generally accepted accounting principles in the United States (GAAP). Such measures are intended to supplement GAAP and may be different from non-GAAP measures used by other companies. Progress Software believes that the non-GAAP results described in this release are useful for an understanding of its ongoing operations and provide additional detail and an alternative method of assessing its operating results. Management uses these non-GAAP results to compare the company's performance to that of prior periods for analysis of trends and for budget and planning purposes. A reconciliation of non-GAAP adjustments to the company's GAAP financial results is included in the tables below.

Conference Call
The Progress Software quarterly investor conference call to review its fiscal second quarter 2010 results and business outlook will be Webcast live at 9:00 a.m. (EDT) on Wednesday, June 23, 2010 on the company's Web site, located at http://investors.progress.com/.

As previously disclosed, in combination with this press release, Progress Software is providing in advance a copy of prepared remarks for its conference call. The press release and the prepared remarks are available on the Progress website (http://investors.progress.com) on the investor relations page. The conference call will include only brief comments followed by questions and answers. The prepared remarks will not be read on the call.

The conference call will be webcast and accessible on the Progress Website at http://investors.progress.com/. The conference call will also be webcast live via Yahoo (http://www.yahoo.com), Motley Fool (http://www.fool.com) Streetevents, TD Waterhouse and Fidelity.com. An archived version of the conference call and supporting materials will be available on the Progress Software Investor Relations Website after the live conference call.

A propos de la société

Progress Software Corporation (Nasdaq : PRGS) est un fournisseur mondial de logiciels permettant aux entreprises d’agir de façon proactive face aux changements et aux interactions avec leurs clients, lorsque de nouveaux évènements se présentent. Ceci leur permet de capitaliser sur de nouvelles opportunités, d’être plus efficaces et de réduire les risques. Progress Software propose un portefeuille complet de logiciels d’infrastructures, permettant d’assurer une visibilité et des réponses en temps réel aux évènements ; et garantissant l’intégration, l’accès aux données ainsi que le développement et le déploiement d’applications. Toutes ces solutions supportent des déploiements en mode Saas/Cloud ou on-premise. Progress améliore l‘efficacité opérationnelle de votre entreprise en simplifiant l’IT et en réduisant son coût total de possession (TCO).

Coordonnées

Progress Software:
Geertien Stuit
Tél. : +32 (0)15 30 77 00
E-mail : gstuit@progress.com

LEWIS PR :
Katleen Peeters :
Tél.: +32 (0)3 410 18 52
E-mail: katleenp@lewispr.com

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