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Technology Stocks : Progress Software

PRGS 42.10

-1.4%

12:58 PM EST

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To: mwj6 who wrote (267)	6/22/1999 9:19:00 PM
From: Thomas Mercer-Hursh	Read Replies (1) of 296

>What sort of things do you suppose they account for as "income from operations"? I'm not sure what you mean by the question... unless it just indicates you familiarity with a financial statement... It is interesting that the service and maintenance revenue is still climbing as much as it is. This is common in young companies as they build up a core of loyal followers on maintenance contracts where no new selling is needed to get people to re-up each year, but this part tends to taper off with a more mature company as people stop taking maintenance, either because they stopped using the product or because they just stopped. It is clear from PEG traffic that being off maintenance is pretty common even at sites still using Progress. So, one would guess that this must be coming from services, i.e., consulting.

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