Progress Software announced its fiscal fourth quarter results on December 21, 2010. According to the organization, "On a generally accepted accounting principles (GAAP) basis, revenue for the quarter was $145.2 million, up 6 percent from $ 136.8 million in the fiscal fourth quarter of 2009." Also on a GAAP basis, the company reported a 27 percent increase in operating income - $32.8 million compared to $25.8 million in the same quarter last year.

In addition to announcing its fourth quarter results, it also reported that its Board of Directors has approved a three-for-two split of its common stock.  Learn more about Progress' performance in its fourth quarter and the stock split now!

On a GAAP basis in the fiscal fourth quarter of 2010:

• Net income increased 28 percent to $21.3 million compared to $16.7 million in the same quarter last year;
• Diluted earnings per share increased 18 percent to 47 cents compared to 40 cents in the same quarter a year ago.

According to Progress, "On a non-GAAP basis, revenue totaled $145.3 million, also up 6 percent compared to the same period a year ago. Software license revenue increased 9 percent to $56.5 million from $52.0 million in the same quarter last year."

About the Stock Split:

Progress is carrying out the stock split by issuing a stock dividend. Its Board of Directors authorized the stock split mainly for a broader distribution and greater liquidity for Progress Software’s common stock.

Learn more about Progress' performance, quarterly highlights, and outlook for 2011!