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SOFTWARE INDUSTRY NEWS |
PTC issues Q1 results, Q2 guidance and FY'10 target updates |
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The Parametric Technology Corporation (PTC) has announced its financial results for the first quarter 2010, and said it would be looking at 30% license revenue growth in FY2010. PTC has reported results for its first fiscal quarter ended January 2, 2010. First quarter revenues were $258 million, with an EPS of $0.15. Operating margin was 8.6%. PTC said that relative to Q1 guidance, currency was favorable to revenue by $1.9 million and unfavorable to expenses by $1.3 million. In its guidance for the upcoming Q2, PTC said it expects revenue of $235 to $245 million and EPS of $0.02 to $0.07, assuming exchange rates of $1.46 to the Euro. The company updated its FY 2010 targets, increasing its revenue target to $1,015 million and GAAP operating margin of 7.5%. It is looking at an EPS of $0.50. C Richard Harrison, chairman and CEO said Q1 saw total revenue up 8% year-over-year with license revenues up 48%, which he said was driven by large enterprise PLM contracts in North America. On a constant currency basis, PTC's total Q1 revenue was up 3% and license revenue was up 43%. Harisson said PLM license revenue was $45 million, up 143% year-over-year, and the company's pipeline for new business opportunities with new and existing customers is strong. James Heppelmann, PTC's president and COO said, “Total PLM revenue is approaching a $500 million per year revenue run rate, we are engaged in more than 200 active competitive displacement opportunities on a world-wide basis, and we secured 4 additional strategically important "domino" account wins during the quarter." Heppelmann said FY 2011 will see significant new releases of Windchill, Pro/ENGINEER, Arbortext, CoCreate and Mathcad. |
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