Progress Software Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended November 30, 2015. For the quarter, the company reported total revenue of $112.718 million against $97.894 million a year ago. Income from operations was $20.084 million against $27.027 million a year ago. Income before income taxes was $18.942 million against $26.670 million a year ago. Net loss was $9.470 million or $0.19 per basic and diluted share against net income of $14.463 million or $0.28 per basic and diluted share a year ago. Net cash flows from operating activities were $27.557 million against $39.225 million a year ago. Capital expenditures were $1.126 million against $1.610 million a year ago. Non-GAAP revenue was $115.4 million compared to $97.9 million in the same quarter last year. Non-GAAP income from operations was $40.5 million compared to $38.0 million in the same quarter last year. Non-GAAP operating margin was 35% compared to 39% in the same quarter last year. Non-GAAP net income was $27.3 million compared to $24.1 million in the same quarter last year. Non-GAAP diluted earnings per share were $0.53 compared to $0.47 in the same quarter last year. Non-GAAP adjusted free cash flow was $28.7 million compared to $38.3 million in the same quarter last year.

For the year, the company reported total revenue of $377.554 million against $332.533 million a year ago. Income from operations was $14.754 million against $80.740 million a year ago. Income before income taxes was $12.354 million against $77.804 million a year ago. Net loss was $8.801 million or $0.17 per diluted share against net income of $49.458 million or $0.96 per diluted share a year ago. Net cash flows from operating activities were $104.540 million against $107.694 million a year ago. Capital expenditures were $8.845 million against $11.801 million a year ago. Non-GAAP revenue was $412.4 million compared to $332.5 million in fiscal year 2014. Non-GAAP income from operations was $120.4 million compared to $117.4 million in fiscal year 2014. Non-GAAP operating margin was 29% compared to 35% in the prior fiscal year. Non-GAAP net income was $80.6 million compared to $77.9 million in the prior fiscal year. Non-GAAP diluted earnings per share were $1.58 compared to $1.51 in the prior fiscal year. Non-GAAP adjusted free cash flow was $102.0 million compared to $99.0 million in the prior fiscal year.

The company provided the earnings guidance for the first fiscal quarter ending February 29, 2016. The company's Non-GAAP revenue is expected to be between $92 million and $94 million; and Non-GAAP earnings per share is expected to be between $0.27 and $0.29. GAAP revenue is expected to be between $91.2 million or $0.06 per diluted share and $93.2 million or $0.08 per diluted share.

The company provided the earnings guidance for the fiscal year ending November 30, 2016. The company's Non-GAAP revenue is expected to be between $427 million and $433 million. Non-GAAP earnings per share are expected to be between $1.59 and $1.65. Non-GAAP operating margin is expected to be between 29% and 30%. Adjusted free cash flow is expected to be between $97 million and $102 million. Non-GAAP effective tax rate is expected to be approximately 33%. GAAP revenue is expected to be between $425.0 million and $431.0 million. GAAP income from operations expected to be in the range of $67.2 million to $71.5 million. Non-GAAP income from operations expected to be in the range of $124.7 million to $129.0 million. GAAP net income expected to be in the range of $34.8 million or $0.67 per diluted share to $37.3 million or $0.72 per diluted share. Non-GAAP net income expected to be in the range of $82.2 million to $84.8 million. Non-GAAP income from continuing operations before income taxes expected to be in the range of $121.9 million to $126.5 million.