Progress Software, the provider of leading application infrastructure software, has announced record third-quarter revenues of $111.4 million, up 12% from $99.5 million in the third quarter of fiscal 2005. Software licence revenue increased 11% to $42.3 million from $38 million in the same quarter last year.
"The Progress OpenEdge business performed as anticipated, and the DataDirect Technologies product line, which includes the recently acquired Shadow mainframe integration products, had a very strong quarter," says Rick Parry, MD of Progress Software SA.
"Overall, Progress achieved double-digit growth in software licence revenue and total revenue. The Enterprise Infrastructure product lines, formerly Sonic and Real-Time, also achieved double-digit software licence revenue and total revenue growth, with Data Services products performing less than anticipated and Sonic and Apama demonstrating solid growth."
Progress`s cash and short-term investments at the end of the quarter totalled $237 million, and the company is expecting the following revenues for the remainder of its current financial year:
Revenue is expected to be in the range of $115 million to $118 million for the fourth quarter ended 30 November 2006.
Revenue is expected to be in the range of $440 million to $443 million for the fiscal year ended 30 November 2006.
Highlights
Volvo Cars (Belgium) deployed the XDMS Dealer Management System (DMS) from Progress Application Partner XPower Automotive Software. This service-oriented architecture (SOA)-enabled system, based on the Progress OpenEdge business application platform and Progress Sonic ESB, was deployed across all 65 dealers in Belgium in a record-breaking eight months. The system enables dealers to offer an enhanced purchase, support and service experience for their customers and ensures that 98% of Volvo parts are delivered overnight.
Progress announced that its Progress Sonic ESB product ranked first in the Enterprise Service Bus (ESB) segment of Gartner Dataquest`s latest report on the worldwide application integration and middleware (AIM) market. The report, "Market Share: AIM and Portal Software, Worldwide, 2005", published 9 June 2006, provides market share results for the AIM market in seven worldwide regions. Overall, the Gartner Dataquest report noted that the ESB market expanded more significantly in 2005 than any other AIM segment with 160.7% revenue growth. Revenues for Sonic ESB increased from $8.7 million in 2004 to $18.5 million in 2005, increasing by over 113%.
Progress was named an enterprise service bus (ESB) market leader by Forrester Research for its Sonic ESB product family. The report titled "The Forrester Wave: Enterprise Service Bus, Q2 2006", published 30 June 2006 states: "Progress (Sonic) has a strong and credible corporate strategy" and "claims a significant number of customers and provided good reference accounts". While the evaluation considered the Progress Sonic ESB and Actional products that were available by March 2006, a new version of Sonic ESB (www.sonicsoftware.com/ESB7) was made available in April that delivers powerful new capabilities.
Two Progress customers were named in the "2006 InfoWorld CTO 25" in the June 2006 issue of InfoWorld. Of the hundreds of entries received, InfoWorld selected the 25 leaders who exemplify the best in IT management and innovation, including Progress customers Roland Whitehead from the elite auction house Bonhams and Suzanne Peck from the city government of Washington, DC.
Progress announced that Redcats (http://www.redcats.com) will significantly expand its use of Progress EasyAsk advanced search, navigation and dynamic merchandising technology to power 21 leading international e-commerce websites. A global leader in home shopping, with 17 brands across 26 countries, Redcats offers a portfolio of some of the world`s most popular catalogue, Web and retail store brands.
DataDirect Technologies released version 2.0 of DataDirect XQuery, the industry`s first embeddable, database-independent component for processing and aggregating XML, relational and legacy data formats such as EDI and CSV. DataDirect XQuery 2.0 is an enterprise-grade XQuery engine that supports the latest working draft of the XQuery specification. This new release includes performance enhancements for large XML documents, added functionality for optimal query performance in any environment, and support for legacy data formats.
Significant new partners and customers adopting technology from Progress, or deploying solutions using Progress technology, included: Abbey Corrugated, AC Nielsen Company, Agrenco do Brasil, American Greetings, American Society of Clinical Pathology, ARVAL Service Lease, Banca Intesa, Baptist Health System, Baudirektion Kanton Zurich, Brit Insurance UK, Caribou Systems, Citibank NA Shanghai, Cloverdale Paint, Cordell and Cordell, County of Ventura, Creation Financial Services, eBuyer, European Fund Services, Fairfax County Public Schools, Flowserve Corporation, Fountain Beek, Icelandic Meteorological Office, Initiate Systems, Intech, Integro Insurance Brokers, Iveg Hoboken, Keysecurity AG, King Teleservices, LGS Group, M-Qube, MobileOne Pte, Peak6, Recreational Finance, Rockford Park District, Sayal Electronics, Softworks Group, Sun Hung Kai Securities, University of Chicago, VT Vehicle Solutions, WWF Paper Sales UK, Wyse Technology and Yellow Jacket Software.
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Progress Software provides application infrastructure software for the development, deployment, integration and management of business applications. Its goal is to maximise the benefits of information technology while minimising its complexity and total cost of ownership. Progress can be reached at www.progress.com.
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