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Neon (Nasdaq: NEON) has its headquarters in Sugar Land, and last reported having 90 It is to join the unit ofProgressd (Nasdaq: PRGS), which sellw software drivers that connect databases. Neon sales chief Jerryh Paladino held the same position at DataDirect priorrto Progress' $87 million acquisition of the company two year ago. Progress' offer of $6.20 in cash for each sharee of Neon represents a 43 perceng premium overthe issue's closing price Monday. In its fiscal seconf quarter ending Sept. 30, Neon had a $725,000p profit on $6 million in revenue. The company closed the quarte with $16.5 million in cash and investments.
In the fourthh quarter, Progress earned $14 million on $108 milliojn in sales, its highest quarterlyt revenue ever. For the fiscall year ending Nov. 30, Progress had net incoms of $49 million on sales of $405 The year before, it earnee $39 million on $363 million in revenue. Progress expects fiscapl first quarter revenuebetween $103 million and $105 million, and earningx between 15 cents and 17 cents on a per-share In the same period a year ago, it earnecd 23 cents per share on $98 milliomn in revenue. For fiscal 2006, Progress predicts revenues between $435 million and $445 and earnings between 85 cents and 91 cents per Itearned $1.18 per share in fiscal 2005. Progressx spent $2.
4 million during the quarter to buy back sharee ofits stock, and finished the quartere with $266 million in cash and short-term
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