Progress Software profit beats estimates on cost cuts Wed Sep 26, 2012 5:04pm EDT (Reuters) - Database management software maker Progress Software Corp (PRGS.O) reported a third-quarter profit that beat analysts' estimates, helped by cost cuts. The company's net income from continuing operations fell to $5.8 million, or 12 cents per share, from $9.1 million, or 14 cents per share, a year earlier. Excluding items, it earned 31 cents per share. Revenue fell 14 percent to $107.2 million. Analysts expected earnings of 24 cents per share on revenue of $112.3 million, according to Thomson Reuters I/B/E/S. Shares of the Bedford, Massachusetts-based company rose 3 percent in after hours trading on Wednesday. They closed at $19.16 on the Nasdaq. Reporting By Aditya Kondalamahanty in Bangalore; Editing by Anil D'Silva