Progress Software Corporation (PRGS)’s 4th Quarter 2014 Earnings Conference Call Transcript

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Below is the transcript of the Progress Software Corporation (NASDAQ:PRGS)’s Fiscal 2014 Fourth Quarter Earnings conference call, held on Tuesday, January 13th, 2015 at 5:00 pm EST.


Progress Software Corporation (NASDAQ:PRGS)


Since 1981 Progress Software Corporation (NASDAQ:PRGShas been committed to delivering market-leading technology innovations that empower their partners and customers to dramatically improve the development, deployment, integration and management of their business applications. Their technology is used by nearly 140,000 organizations in more than 180 countries.



Brian Flanagan, Senior Director Investor Relations

Phil Pead, President and Chief Executive Officer

Chris Perkins, Chief Financial Officer.



Steve Koenig, Wedbush Securities

Mark Schappel, Benchmark

Greg McDowell, JMP Securities

Glenn Mattson, Ladenburg Thalmann

Scott Zeller, Needham & Co.



Please standby, we are about to begin. Good day, and welcome to the Progress Software Corporation Q-4 Earnings Release Conference Call. At this time, I would like to turn the conference over to Brian Flanagan, Senior Director, Investor Relations. Please go ahead, sir.


Brian Flanagan, Senior Director Investor Relations

Thank you, Glen. Good afternoon everyone, and thanks for joining us for Progress Software’s fiscal 4th  Quarter, 2014, Earnings Call. With me today, is Phil Pead, President and Chief Executive Officer and Chris Perkins, our Chief Financial Officer. Before we get started, I’d like to remind you that during this call we may discuss our outlook for future financial and operating performance, corporate strategies, product plans, cost initiatives or other information that might be considered forward-looking. This forward-looking information represents Progress Software’s outlook and guidance only as of today, and is subject to risks and uncertainties. Please review our Safe Harbor statement regarding this information which is available both in today’s press release, as well as in the Investor Relations section of our website at Progress Software assumes no obligation to update the forward-looking statements included in this call, whether as a result of new developments or otherwise.

Additionally, on this call, we may refer to certain non-GAAP financial measures such as operating margin and diluted earnings per share. You can find a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP numbers in our earnings release issued today. Today, we published our financial press release on our website and also furnished the information to the SEC in an 8-K filing. These documents contain the full details of our financial results for the fiscal 4th Quarter 2014 and I recommend you reference these documents for specific details. Today’s conference call will be recorded in its entirety and will be available via replay on our website in the Investor Relations section. With that, I will now turn it over to Phil.


Phil Pead, President and Chief Executive Officer

Thank you, Brian. Good afternoon everyone, and thank you for attending our 4th Quarter Earnings Call. I am very pleased with our 4th Quarter performance. As a result of our considered execution, we achieved strong growth over the prior quarter in each category of our business. Moreover, the momentum we have built as a result of this effort will benefit us going into our new fiscal year. We entered 2015 with a suite of strategic solutions that offer an unrivaled choice to application developers. I know this is often said by CEO’s but I couldn’t be more excited about future.

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