Progress Software has reported record results for its fourth quarter ended 30 November 2005. Revenue for the quarter was an all-time high $108 million, up 12% from $96.2 million in the fourth quarter of 2004. Software licence revenue increased 20% to $44.1 million from $36.8 million in the same quarter last year.
On a generally accepted accounting principles (GAAP) basis, operating income increased 21% to $19.2 million from $15.9 million in the fourth quarter of 2004. Net income increased 29% to $14 million from $10.9 million in the same quarter last year. Diluted earnings per share increased 18% to 33c from 28c in the fourth quarter of 2004.
For the 12 months ended 30 November 2005, revenue increased 12% to $405 million from $363 million in 2004. On a GAAP basis, operating income increased 38% to $63.8 million from $46.4 million in 2004. Net income increased 52% to $48.9 million from $32.1 million in 2004 and diluted earnings per share increased 44% to $1.18 from 82c in 2004.
"Progress Software South Africa continued to grow its business very much in line with Progress internationally, posting a very healthy 30% increase in licence revenue for the 2005 financial year," says Rick Parry, MD of Progress Software South Africa.
"All Progress product lines contributed to a successful fourth quarter and a record 2005 financial year. Progress`s newer operating units - Sonic Software, Progress Real Time and DataDirect Technologies - delivered excellent revenue growth of 33% in 2005 and now account for 36% of software licence revenue," he adds. "Revenue from the OpenEdge Division continues to grow and deliver very substantial profitability."
Highlights
The Progress OpenEdge Division introduced Progress OpenEdge 10.1. Included in this latest release of OpenEdge is a new Eclipse-based integrated development environment (IDE), as well as auditing services designed to address the compliance needs of finance, healthcare and other industries traditionally affected by audit and compliance requirements.
The Progress OpenEdge Division announced new additions to its award-winning partner programme designed to help both existing and prospective application partners learn how to enhance their business applications with the latest technology advances using Progress OpenEdge technology. Based on its highly successful Application Transformation Approach (ATA), the new Accelerator Program combines products, services and best practices to bring new partners and their non-Progress-based applications through the SOA-enablement process.
Sonic Software joined forces with AmberPoint and Systinet to create and publish a new Service-Oriented Architecture (SOA) Maturity Model (SOA MM) to assess, guide and establish a vision for maximising the strategic benefits of SOA investments. The three firms publicly presented the SOA Maturity Model to senior IT decision managers during a 10-city Management Forum Seminar Series designed to educate managers on the strategic business value of SOA.
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