Progress Software Corporation announced results for its fiscal fourth quarter and fiscal year ended November 30, 2014. Revenue from continuing operations was $97.9 million in the fourth quarter compared to $91 million in the same quarter last year.
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This is a year over year increase of 8% on an actual currency basis and 10% on a constant currency basis.
On a GAAP basis in the fiscal fourth quarter of 2014: income from operations was $27 million compared to $23.9 million in the same quarter last year;, income from continuing operations was $14.5 million compared to $14.6 million in the same quarter last year; net income was $14.5 million compared to $15.0 million in the same quarter last year; and diluted earnings per share from continuing operations was $0.28, unchanged from the same quarter last year.
On a non-GAAP basis in the fiscal fourth quarter of 2014 income from operations was $38.0 million compared to $33.5 million in the same quarter last year; operating margin was 39% compared to 37%
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Income from continuing operations was $24.1 million compared to $22.5 million in the same quarter last year; and diluted earnings per share from continuing operations was $0.47 compared to $0.43 in the same quarter last year.
"Our positive momentum continued in 2014, resulting in significant growth in operating income and cash flow over the previous year," said Phil Pead, President and CEO of Progress Software.
"Entering 2015, we are now able to offer application developers an unrivaled choice. With Progress, developers have seamless access to the broadest range of data sources, tools to create the most engaging user experiences and a leading platform to build mobile apps. They also benefit from the choice to build and deploy apps from scratch or take advantage of our productivity platform.
"Further, the recent addition of Telerik Sitefinity to our portfolio provides developers with an intuitive end-to-end web content management, digital marketing and customer analytics solution. These choices underscore our commitment to becoming the preferred destination for application developers." ■