(This story was updated to include non-GAAP revenue and fourth-quarter guidance).

Shares of Progress Software (PRGS) - Get Report were tumbling 11.6% to $37.09 trading Friday after the business applications maker missed fiscal fourth-quarter revenue estimates.

The Bedford, Massachusetts-based company reported third-quarter earnings of $13.6 million, or 30 cents a share, up from $14.4 million, or 32 cents a share, a year earlier. Adjusted earnings came to 75 cents, up from the year-ago figure of 55 cents.

Non-GAAP revenue totaled $115.5 million, up 25% from $92.7 million a year ago. Wall Street expected revenue of $111 million.

The company said it expects non-GAAP fourth-quarter earnings to range from 73 cents to 75 cents a share on revenue of $116 million to $119 million a share. Analysts were expecting revenue of $123.2 million.

For the full year, Progress Software expects non-GAAP earnings to range from $2.63 and $2.65 a share for the year, and revenue between $425 million and $428 million.

In May, the company completed its $225 million acquisition of Ipswich.

"Our integration efforts for Ipswitch remain on track, and we expect to have substantially all of the $15 million of cost synergies in place by the end of 2019, well ahead of schedule," Paul Jalbert, chief financial officer, said in a statement.

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