Progress Software Corporation reported consolidated earnings results for the fourth quarter and full year ended November 30, 2013. For the quarter, the company reported total revenue of $90,980,000 compared to $86,642,000 a year ago. Income from operations was $23,900,000 compared to $18,659,000 a year ago. Income from continuing operations before income taxes was $23,606,000 compared to $17,979,000 a year ago. Net income was $15,036,000 or $0.28 basic and diluted per share compared to $36,025,000 or $0.20 basic and diluted per share a year ago. Net cash flows from operating activities were $17,859,000 compared to $28,401,000 a year ago. Capital expenditures were $2,073,000 compared to $1,129,000 a year ago. Non-GAAP income from operations was $33,510,000 compared to $24,155,000 a year ago. Non-GAAP diluted earnings per share from continuing operations were $0.43 compared to $0.25 a year ago.

For the year, the company reported total revenue of $333,996,000 compared to $317,612,000 a year ago. Income from operations was $63,740,000 compared to $67,789,000 a year ago. Income from continuing operations before income taxes was $62,783,000 compared to $67,985,000 a year ago. Net income was $74,907,000 or $0.72 diluted per share compared to $47,444,000 or $0.71 basic and diluted per share a year ago. Net cash flows from operating activities were $5,062,000 compared to $7,735,000 a year ago. Capital expenditures were $5,062,000 compared to $7,735,000 a year ago. Non-GAAP income from operations was $100,136,000 compared to $99,008,000 a year ago. Non-GAAP diluted earnings per share from continuing operations were $1.19 compared to $1.06 a year ago.

The company provided earnings guidance for the first fiscal quarter ending February 28, 2014 and fiscal year ending November 30, 2014. For the first quarter, ending February 28, 2014, on a constant currency basis, revenue is expected to be between $80 million and $82 million; and non-GAAP earnings per share is expected to be between $0.29 and $0.31.

For the fiscal year ending November 30, 2014, on a constant currency basis, revenue is expected to be between $340 million and $350 million; non-GAAP earnings per share is expected to be between $1.40 and $1.50; non-GAAP operating margin is expected to be between 33% and 34%; free cash flow is expected to be between $80 million and $85 million; and non-GAAP effective tax rate is expected to be between 32% and 33%.