Progress Software reports first quarter results

BEDFORD, Mass. – Progress Software Corporation, supplier of technology for building e-business solutions, has announced an increase of 7 percent to $64.25 million in revenues for its first quarter ended Feb. 28. Revenues were up from $60.24 million in the same quarter last year. Operating income was $3.27 million as compared to $1.46 million in the same quarter last year. Net income was $2.46 million, up 24 percent from $1.98 million in the same quarter last year. Diluted earnings per share of $0.06 cents represented an increase of 20 percent over the $0.05 cents achieved in the first quarter of 2001.