Progress Software (PRGS) Q1 2019 Earnings Conference Call Transcript
Summary
Before we get started, Id like to remind you that during this call, we will discuss our outlook for future financial and operating performance, corporate strategies, product plans, cost initiatives, and other information that might be considered forward-looking. Importantly, we have identified areas where we can leverage our operating model and infrastructure to achieve approximately $15 million of annualized cost synergies within 12 months while maintaining Ipswitchs long-standing business and healthy renewal rate. Based on current exchange rates, the total expected negative currency translation impact on our 2019 revenue is now $5.9 million, an increase of only $100,000 from the guidance we provided in January. In closing, we had a solid financial performance in Q1, we continue to execute on our 2019 plans, and we are pleased to be able to increase our revenue, EPS and cash flow expectations as a result of the Ipswitch acquisition. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the companys SEC filings.
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