Process software stocks slide because its quarterly outlook weighs on revenue streams

After a disappointing quarterly performance by a business software company, program software corporate stocks were held for an extended period of time.

Growth PRGS,
+ 1.16%
Shares fell 1% hours later, following a 1.2% increase in the regular session to close at $ 46.06.

For the third quarter of the budget year, the company earned 81 cents and 83 cents from $ 129 million to $ 132 million. Analysts surveyed by the factory are expected to earn 85 cents in revenue of $ 132 million.

The company reported $ 13.6 million, or 30 cents, in the second quarter of its budget year, compared to $ 17 million or 37 cents a year earlier. Adjusted earnings, which did not include stock-based compensation and other items, were up 82 cents compared to 63 cents a year earlier. Analysts surveyed the factory predicted a 75-cent stake.

Revenue increased from $ 100.4 million in the previous quarter to $ 122.5 million, but analysts say it includes delayed revenue from software that could not be included in adjusted results. That revenue was $ 129.2 million, and analysts predicted $ 122 million.

The project also increased its annual sales target from $ 529 million to $ 525 million, from $ 519 million to $ 525 million, and analysts estimate $ 525 million.