PROGRESS SOFTWARE CORP /MA PRGS Income Statement

Progress software corp /ma (PRGS)

Income statement / Quarterly

Feb'20	Nov'19	Aug'19	May'19	Feb'19	Nov'18	Aug'18	May'18	Feb'18	Nov'17	Aug'17	May'17	Feb'17	Nov'16	Aug'16	May'16	Feb'16	Nov'15	Aug'15	May'15	Feb'15	Nov'14	Aug'14	May'14	Feb'14	Nov'13	Aug'13	May'13	Feb'13	Nov'12	Aug'12	May'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10	Aug'10	May'10	Feb'10	Aug'09
Revenue:
Total revenue
109,683	117,038	106,716	99,995	89,549	98,104	92,603	92,864	95,410	107,661	97,310	93,213	90,970	117,724	102,018	96,118	89,481	112,719	94,637	88,817	81,381	97,894	79,274	80,827	74,538	90,980	77,578	81,705	83,733	81,900	74,371	74,128	87,213	-59,822	124,511	134,684	134,237	-32,330	128,737	127,656	127,547	119,433
Costs of revenue:
Total costs of revenue
14,886	20,766	20,825	17,611	16,039	16,731	16,696	16,643	16,903	17,959	18,075	17,367	15,758	16,538	17,189	16,235	15,750	15,236	15,132	15,746	17,628	11,139	7,861	7,378	7,881	8,095	8,519	8,489	9,879	7,566	9,488	8,610	10,650	-38,348	24,844	26,157	24,124	-32,788	24,709	25,231	24,001	22,526
Gross profit
94,797	96,272	85,891	82,384	73,510	81,373	75,907	76,221	78,507	89,702	79,235	75,846	75,212	101,186	84,829	79,883	73,731	97,483	79,505	73,071	63,753	86,755	71,413	73,449	66,657	82,885	69,059	73,216	73,854	74,334	64,883	65,518	76,563	-21,474	99,667	108,527	110,113	458	104,028	102,425	103,546	96,907
Operating expenses:
Sales and marketing
24,198	29,369	25,177	24,832	22,323	28,198	21,752	21,658	21,428	30,935	23,159	21,236	25,721	32,853	29,852	29,138	29,658	32,260	30,004	31,852	30,751	30,151	22,477	24,359	24,509	26,911	24,554	25,890	28,642	25,290	24,970	19,373	29,205	-48,856	43,661	44,312	44,698	-30,734	39,362	40,140	43,206	45,511
Product development
21,654	23,868	23,126	21,688	19,890	20,334	19,338	19,822	20,245	21,243	19,620	18,791	17,334	22,787	21,706	22,297	21,797	21,391	20,422	22,290	22,821	13,397	14,975	15,480	15,113	14,428	14,615	14,671	13,622	9,161	12,631	10,387	12,264	-20,919	18,106	20,137	20,859	-18,401	21,941	23,153	23,387	22,378
General and administrative
12,748	14,915	13,506	12,654	12,285	13,380	12,218	12,190	11,262	12,401	11,164	11,606	10,568	10,477	11,411	12,264	12,380	15,230	14,076	13,673	14,315	12,975	12,162	11,428	11,727	13,604	13,660	14,064	14,666	14,185	14,375	18,014	15,415	15,836	20,342	13,742	11,852	13,246	11,937	13,448	12,782	17,717
Amortization of acquired intangibles
4,131	7,414	7,068	4,585	3,188	3,285	3,319	3,318	3,319	3,318	3,319	3,223	3,179	3,179	3,186	3,185	3,185	3,186	3,186	3,171	3,202	225	116	148	164	211	211	167	171	163	207	208	242	-5,652	1,909	1,982	2,274	-5,030	2,733	2,736	2,364	2,310
Impairment of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,051	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring Charges
1,040	2,307	801	2,777	415	-82	135	426	1,821	3,476	923	662	17,139	1,471	-36	331	-66	4,274	2,561	3,810	2,344	266	1,680	124	196	2,856	5,401	2,766	960	1,057	1,411	4,736	0	-1,325	1,369	1,144	2,114	-14,796	11,533	203	25,771	-211
Acquisition-related expenses
314	340	253	1,107	0	172	42	43	43	656	751	44	49	791	53	324	72	1,061	662	1,010	1,506	2,714	572	1,630	946	975	957	1,272	0	0	0	0	215	-	0	0	-	-468	53	0	415	110
Fees related to shareholder activist
-	-	0	0	-	0	0	214	1,258	2,020	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
64,085	102,298	69,931	67,643	58,101	70,343	56,804	57,671	59,376	74,017	58,936	55,562	73,990	163,550	71,223	67,539	67,026	77,402	70,911	75,806	74,939	59,728	51,982	53,169	52,655	58,985	59,398	58,830	58,061	49,856	53,594	52,718	57,341	-60,380	85,387	81,317	81,797	-56,183	87,559	79,680	107,925	87,815
Income from operations
30,712	-6,026	15,960	14,741	15,409	11,030	19,103	18,550	19,131	15,685	20,299	20,284	1,222	-62,364	13,606	12,344	6,705	20,081	8,594	-2,735	-11,186	27,027	19,431	20,280	14,002	23,900	9,661	14,386	15,793	24,478	11,289	12,800	19,222	38,906	14,280	27,210	28,316	56,641	16,469	22,745	-4,379	9,092
Other (expense) income:
Interest expense
2,792	2,993	3,321	2,210	1,389	1,375	1,337	1,272	1,165	1,176	1,221	1,152	1,082	934	1,174	1,013	1,057	715	987	947	1,139	142	122	158	150	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income and other, net
211	193	377	344	229	259	322	231	408	204	239	257	221	153	260	264	162	27	450	454	515	466	-1,800	754	663	700	371	244	531	222	1,017	743	592	387	310	714	588	455	615	581	1,481	560
Foreign currency loss, net
-816	-751	-774	-451	-843	-1,072	-946	-243	-828	244	-418	-657	-486	-316	-374	-612	-930	-455	-628	-532	1,557	-680	-535	-725	-507	-349	-194	-536	-1,079	-902	-660	-494	-322	-303	-1,083	-505	-627	-1,652	-2,335	3,338	1,275	-747
Total other expense, net
-3,397	-3,551	-3,718	-2,317	-2,003	-2,188	-1,961	-1,284	-1,585	-728	-1,400	-1,552	-1,347	-1,097	-1,288	-1,361	-1,825	-1,143	-1,165	-1,025	933	-356	-2,457	-129	6	-294	177	-292	-548	-680	357	249	270	84	-773	209	-39	-1,197	-1,720	3,919	2,756	-187
Income before income taxes
27,315	-9,577	12,242	12,424	13,406	8,842	17,142	17,266	17,546	14,957	18,899	18,732	-125	-63,461	12,318	10,983	4,880	18,938	7,429	-3,760	-10,253	26,671	16,974	20,151	14,008	23,606	9,838	14,094	15,245	23,798	11,646	13,049	19,492	38,990	13,507	27,419	28,277	55,444	14,749	26,664	-1,623	8,905
Provision for income taxes
6,199	-4,837	-1,315	4,243	4,004	198	2,752	4,362	3,814	6,924	7,727	8,391	400	10,332	4,742	3,708	1,664	28,411	11,555	-9,529	-9,282	12,207	5,879	7,352	2,908	8,988	2,634	5,952	5,432	7,393	3,902	4,194	7,542	15,670	3,919	9,459	7,756	20,172	5,505	7,606	-617	3,384
Income from discontinued operations, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	418	17,639	-4,232	21,305	19,620	-1,906	-10,763	-4,461	-	-529	-	-	-	-	-	-	-
Net income
21,116	-	-	-	9,402	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,036	24,843	3,910	31,118	36,025	5,838	-1,908	7,489	12,089	9,059	17,960	20,521	20,802	9,244	19,058	-1,006	5,521
Net income
21,116	-	13,557	8,181	9,402	-	14,390	12,904	13,732	-	11,172	10,341	-525	-	7,576	7,275	3,216	-	-4,126	5,769	-971	-	11,095	12,799	11,100	14,618	7,204	8,142	9,813	16,405	7,744	8,855	11,950	-	9,588	-	-	-	-	-	-	-
Basic:
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.02	0.33	-0.08	0.37	0.31	-0.03	-0.17	-0.07	-	-0.01	-	-	-	-	-	-	-
Basic (in dollars per share)
0.47	-	0.30	0.18	0.21	-	0.32	0.28	0.30	-	0.23	0.21	-0.01	-	0.16	0.15	0.06	-	-0.08	0.11	-0.02	-	0.22	0.25	0.22	0.28	0.13	0.15	0.17	0.26	0.12	0.14	0.19	-	0.15	-	-	-	-	-	-	-
Basic (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.30	0.46	0.07	0.54	0.57	0.09	-0.03	0.12	0.19	0.14	0.27	0.31	0.33	0.14	0.30	-0.02	0.14
Diluted:
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.03	0.32	-0.08	0.36	0.31	-0.03	-0.17	-0.07	-	-0.01	-	-	-	-	-	-	-
Diluted (in dollars per share)
0.46	-	0.30	0.18	0.21	-	0.32	0.28	0.29	-	0.23	0.21	-0.01	-	0.15	0.14	0.06	-	-0.08	0.11	-0.02	-	0.22	0.25	0.21	0.27	0.13	0.15	0.17	0.26	0.12	0.14	0.19	-	0.14	-	-	-	-	-	-	-
Diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.29	0.46	0.07	0.53	0.56	0.09	-0.03	0.12	0.20	0.13	0.26	0.29	0.32	0.14	0.29	-0.02	0.13
Weighted average shares outstanding:
Basic (in shares)
44,897	44,881	44,716	44,611	44,956	45,054	45,130	45,531	46,529	47,491	48,071	48,221	48,733	48,630	48,611	49,873	50,810	50,434	50,120	50,342	50,668	50,434	50,383	51,049	51,494	51,712	53,532	54,919	57,901	62,859	63,469	63,051	62,145	63,076	65,861	66,897	66,986	65,568	64,836	63,805	61,619	40,117
Diluted (in shares)
45,515	45,484	45,303	45,287	45,286	45,401	45,576	46,087	47,476	48,471	48,370	48,490	48,733	46,995	49,135	50,354	51,440	49,691	50,120	51,085	50,668	51,095	50,931	51,673	52,165	52,639	54,389	55,736	58,752	64,678	64,105	63,051	63,130	63,975	67,280	69,246	69,659	70,238	66,636	66,355	61,619	41,261
Cash dividends declared per common share (in dollars per share)
0.16	0.16	0.15	0.15	0.15	0.15	0.14	0.14	0.14	0.14	0.12	0.12	0.12	0.12	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Software licenses
Total revenue
30,629	39,336	30,686	29,728	22,802	28,368	22,852	22,526	26,054	35,200	28,529	25,592	24,322	48,497	33,624	28,787	23,955	44,457	31,840	28,722	25,231	41,156	26,393	27,988	22,264	37,392	25,666	29,347	29,907	31,594	22,637	20,506	31,889	-25,500	38,713	45,417	51,336	-10,413	44,748	44,228	47,117	39,173
Total costs of revenue
1,389	1,598	1,204	925	1,167	1,198	1,077	1,233	1,261	1,405	1,337	1,422	1,588	1,317	1,424	1,233	1,482	1,453	1,441	1,365	1,720	1,445	1,805	1,139	2,007	1,856	1,587	1,356	2,090	1,546	1,375	1,357	1,498	-2,383	2,321	2,321	2,381	-404	2,025	1,619	1,989	1,758
Maintenance and services
Total revenue
79,054	77,702	76,030	70,267	66,747	69,736	69,751	70,338	69,356	72,461	68,781	67,621	66,648	69,227	68,394	67,331	65,526	68,262	62,797	60,095	56,150	56,738	52,881	52,839	52,274	53,588	51,912	52,358	53,826	50,306	51,734	53,622	55,324	-34,322	85,798	89,267	82,901	-21,917	83,989	83,428	80,430	80,260
Total costs of revenue
11,851	12,281	12,163	10,580	9,439	10,025	10,110	9,511	9,824	10,575	10,970	11,262	10,492	11,543	11,825	11,063	10,329	9,758	9,612	10,288	11,275	8,588	5,222	5,709	5,345	5,710	6,403	6,990	7,650	6,030	7,974	7,114	8,760	-26,088	18,557	19,906	17,768	-22,942	17,845	18,327	16,914	15,957
Amortization of acquired intangibles
Total costs of revenue
1,646	6,887	7,458	6,106	5,433	5,508	5,509	5,899	5,818	5,979	5,768	4,683	3,678	3,678	3,940	3,939	3,939	4,025	4,079	4,093	4,633	1,106	834	530	529	529	529	143	139	-10	139	139	392	-9,877	3,966	3,930	3,975	-9,442	4,839	5,285	5,098	4,811