Enterprise integration unit leads the way at Progress Software
By Staff -- Manufacturing Business Technology, 11/1/2003 7:00:00 AM
Progress Software Corp. doesn't garner as many headlines as its competitors. But the Bedford, Mass-based supplier of database, application development, and integration technology is showing financial results that many of its rivals must envy. For the third quarter of fiscal 2003, ended Aug. 31, Progress reported a 34-percent increase in net income, fueled largely by a 64-percent increase in revenue from its Sonic Software unit, which develops enterprise application integration tools. CEO Joseph Alsop says this was the ninth straight quarter that Progress has reported year-over-year revenue growth and the seventh consecutive quarter it has seen net income growth.
This track record is particularly impressive if you consider that Progress has had to change its business strategy over the past several years as Microsoft has gained a foothold in the markets where Progress originally started—databases and tools for developing applications for small and midsize companies.
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