Progress Software Corporation has announced results for its first quarter ended 28 February 2006. Revenue for the quarter was $103.9 million, up 6% from $97.7 million in the first quarter of 2005. Software licence revenue increased 14% to $42.8 million from $37.6 million in the same quarter last year.
"Our Progress Real Time, DataDirect and Sonic product lines each contributed strong double-digit software licence revenue growth," says Rick Parry, MD of Progress Software South Africa.
"The OpenEdge product line contributed positive software licence revenue growth as well as positive total revenue growth in constant currency. Although we did not achieve double digit revenue growth on a reported basis during the first quarter, we achieved 11% revenue growth in real, constant currency terms, and 15% growth in non-GAAP diluted earnings per share, all while also completing two acquisitions."
Highlights
Progress Software subsidiary DataDirect Technologies acquired NEON Systems in a transaction valued at $51 million.
Progress also acquired privately held Actional Corporation for $29 million. Actional is a provider of Web services management software for visibility and run-time governance of distributed IT systems in a service-oriented architecture (SOA). On the closing of the transaction, Actional became part of Sonic Software, an operating unit of Progress Software Corporation.
The company announced the availability of the Progress OpenEdge 10.1 platform for simplifying the development and deployment of service-oriented business applications.
Also announced was the availability of a study produced by Forrester Consulting titled "The Total Economic Impact of the Progress OpenEdge Platform". The study, based upon interviews with six independent software vendor (ISV) partners, finds that Progress Application Partners (APs) reap significantly lower costs and reduce development time when updating or adding new features to their applications, when transforming or evolving their applications, which are built on the Progress OpenEdge Platform, as opposed to using an alternative platform. The Forrester Consulting study found three areas of significant cost savings on the Progress platform: a 42% lower cost of development, a 37% lower cost of deployment, and a 48% lower cost of ongoing management.
Sonic Software announced the availability of Actional 6.0. This release marks a new generation of SOA management technology with the introduction of Business Process Visibility (BPV), the first business process-centric approach to SOA visibility and management. Actional 6.0 allows business and IT users to gain a comprehensive view of individual business processes and their supporting business services and IT infrastructure, while simultaneously enforcing policies at the business process level.
Sonic Software announced that the Sonic SOA Suite 6.1 captured "Best ESB" in InfoWorld`s annual Technology of the Year Awards. The 2006 InfoWorld Technology of the Year Awards recognise the top 10 technologies that made the greatest impact during the past year. They also identify the products that best exemplify the implementation of those technologies.
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