05:07 PM EDT, 03/26/2024 (MT Newswires) -- Progress Software ( PRGS ) reported fiscal Q1 non-GAAP earnings late Tuesday of $1.25 per diluted share, up from $1.19 a year earlier.

Analysts surveyed by Capital IQ expected $1.14.

Revenue for the quarter ended Feb. 29 was $184.7 million, up from $164.2 million a year earlier.

Analysts surveyed by Capital IQ expected $181.6 million.

The company said it expects fiscal Q2 non-GAAP EPS of $0.93 to $0.97. Analysts surveyed by Capital IQ expect $1.15. The company expects revenue for the quarter of $166 million to $170 million. Analysts surveyed by Capital IQ expect $181.5 million.

Progress Software ( PRGS ) expects fiscal year 2024 non-GAAP EPS of $4.65 to $4.75, compared with a prior outlook of $4.58 to $4.68. Analysts surveyed by Capital IQ expect $4.64. The company reaffirmed its revenue outlook for the year of $722 million to $732 million. Analysts surveyed by Capital IQ expect $728.5 million.

The company said its board last week maintained a quarterly dividend of $0.175 per share, payable on June 17 to shareholders of record on June 3.

Separately, Progress Software ( PRGS ) also said it is looking into a possible offer to acquire MariaDB at $0.60 per share.

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