BEDFORD, Mass.—May 22, 2008 Progress Software Corporation (NASDAQ: PRGS), a provider of leading application infrastructure software to develop, deploy, integrate and manage business applications, today announced it has been named to the “Globe 100” list of top performing public companies in Massachusetts, for 2008.
Based on a composite score derived from financial data for the four quarters ending December 31, 2007, Progress Software was ranked 46 among Massachusetts-based companies whose stock is publicly traded on NASDAQ, New York Stock Exchange or American Stock Exchange.
“These companies represent the resiliency of Massachusetts business, surviving recessions, merger manias, and dramatic shifts in their industries," said Shirley Leung, business editor of the Boston Globe.
To qualify for the Globe 100, a company must have been public for the entire 2007 calendar year and have reported a positive net income for both 2006 and 2007.
“Twenty-five years of continuous innovation has enabled Progress Software to post an enviable financial record, superior to almost every other enterprise software company, with 26 consecutive quarters of year-over-year revenue growth, and 23 years of operating profitability. The Boston Globe ranking marks the sixth consecutive year Progress Software has been listed on the Globe 100 list,” says John Stewart, director of corporate and marketing communications, Progress Software. "Being ranked among the top 100 companies in Massachusetts is a testament to Progress' ability to sustain growth while delivering superior enterprise solutions." As number 46 on the "Globe 100" best of Massachusetts businesses list, Progress Software jumped 47 places since their 2007 ranking of 93, demonstrating the company's growth over the past year.
The Globe 100, celebrating its 20th anniversary in 2008, ranks Massachusetts-based public companies based on financial data from the four quarters ending closest to December 31, 2007, and for corresponding quarters a year earlier.
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) provides application infrastructure software for the development, deployment, integration and management of business applications. Our goal is to maximize the benefits of information technology while minimizing its complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.
Progress is a registered trademark of Progress Software Corporation in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.
About The Boston Globe:
The Boston Globe is wholly owned by The New York Times Company (NYSE: NYT), which is a leading media company with 2007 revenues of $3.2 billion, and includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other daily newspapers, WQXR-FM and more than 50 Web sites, including NYTimes.com, Boston.com and About.com. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.