BEDFORD, Mass.--(BUSINESS WIRE)--
Progress (NASDAQ: PRGS) today announced that Chris E. Perkins, the
company's Chief Financial Officer, has informed the company that he
plans to retire after a transition period while we search for his
replacement. Mr. Perkins joined Progress as its CFO in February 2013.
The Company will commence a search for a new CFO shortly.
"Chris' contributions have been critical in guiding us through the
strategic transformation we began almost four years ago", said Phil
Pead, Progress President and CEO. "Chris has built a strong team during
his time here and we are confident that with his leadership through this
transition, we will continue to build on the momentum we've achieved".
Mr. Perkins reflected, "Though there never seems to be the perfect time
to make these life choices, I believe that Progress is on solid
financial footing and well-positioned to move to its next milestone of
growth. I feel fortunate to have been a part of the company during this
critical phase of its transformation and look forward to following its
future success."
Note Regarding Forward-Looking Statements
This press release contains statements that are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Progress has identified some of these forward-looking
statements with words like "believe", other terms of similar meaning or
the use of future dates.
Forward-looking statements in this press release include, but are not
limited to, statements regarding Progress's business outlook and growth
potential. There are a number of factors that could cause actual results
or future events to differ materially from those anticipated by the
forward-looking statements, including, without limitation:
(1) Economic, geopolitical and market conditions, including the
continued difficult economic environment in Brazil and continued slow
economic recovery in Europe and other parts of the world, can adversely
affect our business, results of operations and financial condition,
including our revenue growth and profitability, which in turn could
adversely affect our stock price. (2) We may fail to achieve our
financial forecasts due to such factors as delays or size reductions in
transactions, fewer large transactions in a particular quarter,
fluctuations in currency exchange rates, or a decline in our renewal
rates for contracts. (3) Our ability to successfully manage transitions
to new business models and markets, including an increased emphasis on a
cloud and subscription strategy, may not be successful. (4) If we are
unable to develop new or sufficiently differentiated products and
services, or to enhance and improve our existing products and services
in a timely manner to meet market demand, partners and customers may not
purchase new software licenses or subscriptions or purchase or renew
support contracts. (5) We depend upon our extensive partner channel and
we may not be successful in retaining or expanding our relationships
with channel partners. (6) Our international sales and operations
subject us to additional risks that can adversely affect our operating
results, including risks relating to foreign currency gains and losses.
(7) If the security measures for our software, services or other
offerings are compromised or subject to a successful cyber-attack, or if
such offerings contain significant coding or configuration errors, we
may experience reputational harm, legal claims and financial exposure.
(8) We may make acquisitions in the future and those acquisitions may
not be successful, may involve unanticipated costs or other integration
issues or may disrupt our existing operations. For further information
regarding risks and uncertainties associated with Progress's business,
please refer to Progress's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal year
ended November 30, 2015. Progress undertakes no obligation to update any
forward-looking statements, which speak only as of the date of this
press release.
Progress Software Corporation
Progress
(NASDAQ: PRGS) is a global software company that simplifies the
development, deployment and management of business applications
on-premise or in the cloud, on any platform or device, to any data
source, with enhanced performance, minimal IT complexity and low total
cost of ownership. Progress can be reached at www.progress.com or
1-781-280-4000.
Progress is a trademark or registered trademarks of Progress Software
Corporation or one of its subsidiaries or affiliates in the U.S. and
other countries. Any other trademarks contained herein are the property
of their respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160330006238/en/
Investor Contact
Progress Software
Brian Flanagan, +1
781-280-4817
flanagan@progress.com
or
Press
Contact
Progress Software
Erica Burns, +1 888-365-2779
ext. 154
erica.burns@progress.com
Source: Progress Software Corporation
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