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Short: Progress 3rd-quarter financials

Progress Software announced results for its third quarter ending August 31. Net income was $218,000, down from $4 million in the same quarter last year. Revenue decreased 8 percent to $41 million from $45 million for the same quarter last year. Earnings per share were 2 cents, down from 31 cents last year. During the quarter, Progress purchased 181,500 of its outstanding shares at $13.76 per share and announced a strategic alliance with Logic Works.

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announced results for its third quarter ending August 31. Net income was $218,000, down from $4 million in the same quarter last year. Revenue decreased 8 percent to $41 million from $45 million for the same quarter last year. Earnings per share were 2 cents, down from 31 cents last year. During the quarter, Progress purchased 181,500 of its outstanding shares at $13.76 per share and announced a strategic alliance with Logic Works.