Progress boosts Q3 revenue 9%

Progress Software has grown revenue 9% for its third quarter ended 31 August 2007, relative to the same quarter last year.

Revenue for the quarter was $122 million, up 9% from $111 million in the third quarter of fiscal 2006. Software licence revenue increased 4% to $44 million, from $42 million in the comparable period.

The company`s cash and short-term investments at the end of the quarter totalled $307 million.

"Progress`s Enterprise Infrastructure product lines performed particularly well in the third quarter, and year to date the newer product lines have achieved around 20% growth, while the Progress OpenEdge products have achieved solid results," says Rick Parry, MD of Progress Software South Africa. "Locally, we had an outstanding third quarter, growing licence revenue 40%.

"As with our principal in the US, we continue to see growth in our OpenEdge business, while looking to our newer high-growth product lines to accelerate our growth, as they become a larger portion of our revenue. This includes Sonic, Actional and Apama."

Among quarterly highlights were:

The Financial Services Authority (FSA), the independent non-governmental body that regulates the financial services industry in the UK, will use the Progress Apama event processing platform to power SABRE II, its transaction monitoring and market abuse detection system, in order to monitor trading on UK markets and transactions reported to the FSA in accordance with the requirements of the European Union Markets in Financial Instruments Directive (MiFID) (http://www.progress.com/fsa).

Progress Software announced that Pacific Blue Cross, British Columbia`s largest provider of extended health and dental benefits, has implemented the Progress Sonic ESB (enterprise service bus) to deliver new business services, reduce processing times, and offer competitive services to its clients (http://www.progress.com/pacificblue).

DataDirect Technologies, an operating company of Progress Software Corporation, introduced the DataDirect Connect64 for SSIS product, which provides support for every phase of the SQL Server Integration Services (SSIS) application life cycle and enables the development, deployment and 32-bit or 64-bit runtime execution of Microsoft SSIS packages for non-SQL Server databases, including Sybase, Oracle and DB2 (http://www.progress.com/highperformance).

DataDirect Technologies announced that its DataDirect Connect family of database drivers for JDBC and ODBC and data providers for ADO.NET was named as best-in-class middleware in a new technology assessment report by Ken North Computing, one of the industry`s foremost authorities on data access and database connectivity (http://www.progress.com/bestofbreed).

Progress Software announced that it had won a 2007 World BSS (Business Support Systems) Award in the category of Innovation in Billing and Information Management based on a major CRM IT transformation project, which included the implementation of a common front-end to operations support systems/business support systems (OSS/BSS). For this task, Progress Software provided a shared information/data (SID) based data integration solution using the Progress DataXtend Semantic Integrator. The World BSS Awards are widely regarded as the highest industry recognition of business support systems excellence and acknowledge best billing practices within the telecommunications industry (http://www.progress.com/worldbss).

Progress Software announced the launch of the PowerAlgo product, a Korean-language version of the Progress Apama Algorithmic Trading Platform. The PowerAlgo product was created by Koscom, a leading Korean financial IT vendor and Apama strategic partner. It was the first commercially-available algorithmic trading platform in Korea and is seamlessly integrated with Koscom`s existing Order Management System. It enables Koscom customers to algorithmically and automatically trade equities, futures and options on the Korean Exchange (KRX) (http://www.progress.com/poweralgo).

Progress Software launched the Progress Apama FX Market Aggregation Accelerator. Combining a set of FX (foreign exchange) integration adapters with pre-built Apama trading dashboards and foundation FX algorithms, the Apama FX Market Aggregation Accelerator helps both sell and buy-side traders develop and deploy high-frequency foreign exchange trading strategies that capitalise on proprietary trading techniques. The product will enable traders to accelerate the deployment of trading strategies that can access multiple FX liquidity sources to identify best price and market depth (http://www.progress.com/apamafx).

Progress Software announced the newest version of Progress EasyAsk search, navigation and merchandising software designed to significantly improve e-commerce performance. The new 64-bit platform enhancement delivers a dramatic increase in both performance and scalability, and will support online catalogues consisting of several million items that can be easily searched, found and purchased. Cache performance has also been improved so that browsers and online shoppers experience a faster return to previously searched items. Additionally, the size of the search index has been compressed by 30%, and up to 50% less memory is required, both of which contribute significantly to overall improved performance (http://www.progress.com/eaupgrades).

Progress Software announced the availability of version 7.0 of the Progress ObjectStore Enterprise platform (http://www.progress.com/objectstore7).

Significant new and existing partners and customers adopting technology from Progress Software, or deploying solutions using Progress technology, include: Administracion Fiscal de Ingresos Publicos, Alberta Motor Association, ALTICOR, American Airlines, Astera Software, Bank Tokyo Mitsubishi, Barclays Global Investors, BBA Aviation, Beauty Alliance, Berkheimer Outsourcing, Bioware, Boehringer Ingelheim do Brasil, Brentwood Public Schools, BTicino, Camfil Farr (Canada) Inc, Carlson Companies, CB Richard Ellis, Cencosud, Cia Energetica Rio das Antas, CitiGroup, Colgate-Palmolive Company, CPW Network Services, Crown Casino, DB Balance, Denso do Brasil, Deutsche Bank, Deutsches Zentrum fur Luft-und Raumfahrt e.V., Disney, DMSi, Document Sciences, Duas Rodas Industrial, E*Trade Financial, Essex Group, Evaluadora De Credito, Farmers Alliance Mutual Insurance, Financial Medical Systems, First Bank, FWU Malaysia, GE Money Bank, Genworth Financial, Global Mobile Tech Philippines, Grupo Financiero Ve por Mas, Hendrickson International, Highbridge Capital Management, Hospital San Agustin, Hughes Network Systems, INSERM, Iron Mountain, Island One, Jlt Management Services, JPMorgan Chase Bank, KBC Financial Products, LEAPFROG, MAHLE Group, Manuvis, Menards, Ministerio de Hacienda de la Provincia de La Pampa, Mitsubishi Electronics, Municipalidad de Salta, NCR, Nedbank Limited, New York Mercantile Exchange, New York Stock Exchange, Nirvaco, Nordisk Mobiltelefon, Norfolk Southern, Northern Trust, Nutrisystem, Otto (GmbH & Co KG), Pearson, Peninsula Hose & Hydraulics, Produban Servicios Informaticos, Reclassering Nederland, Reed Hycalog Singapore, Renner Herrmann, Rutgers University, Sam Ellis Store, Sancor CUL, Sherwin-Williams, Technoplast, Telstra, Telvent Farradyne, Textbooks.com, The Citco Group, The Home Depot Mexico, The Pepsi Bottling Group Mexico, Time, T-Systems do Brasil, TTI, Royal Appliance Mfg. Co, Unibanco AIG Seguros, Vermont Systems, Wetzel.