Progress Software updates pro forma financials for ShareFile acquisition, showing reduced EPS

PROGRESS SOFTWARE CORP /MA

Pro forma FY2024 revenue $978.8M, net income $35.7M, diluted EPS $0.80.
Acquisition closed Oct 31, 2024 for $852.7M cash, funded by $730M credit facility.
Pro forma adjustments: $60.8M additional amortization on intangibles (7-yr life).
$44.7M incremental interest expense at 6.7% borrowing rate.
Historical Progress net income was $68.4M ($1.54 diluted EPS) before acquisition.

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