CIMdata PLM Industry Summary Online Archive
July 5, 2007
Financial News
PTC Provides Fiscal Third Quarter 2007 Financial Update
PTC expects revenue for the fiscal 2007 third quarter ended June 30, 2007 to be approximately $225 million, compared with the Company's guidance of $235 million to $240 million. Lower-than-expected license revenue totaling approximately $62 million was the primary driver of the third quarter results. Therefore PTC expects both GAAP and non-GAAP earnings for the third quarter to be below the Company's prior guidance.
"Having met or exceeded our guidance for the past 15 consecutive quarters, I am disappointed that our revenue and earnings results will be below our expectations for the third quarter," said C. Richard Harrison, president and chief executive officer. "Though third quarter total revenue grew approximately 4% year over year and was generally in line with our results from the second quarter, our license revenue fell short of our forecast in North America and Japan. In response to our revenue and earnings shortfall, and to support our commitment to deliver significant operating margin and earnings improvements in the future, we have already begun to implement several cost-reduction initiatives in the fourth quarter."
Based on preliminary third quarter license revenue results, PTC anticipates that it will lower its fourth quarter and fiscal year 2007 revenue and earnings guidance. We will discuss our detailed third quarter results and revised guidance in our third quarter earnings announcement, which will be issued on July 25, 2007.
PTC expects to announce final results for the third quarter on Wednesday, July 25, 2007 before the market opens. On that day at 10 a.m. ET, the Company will hold a conference call and live webcast to discuss its results and provide an outlook update (the earnings press release and accompanying financial and operating statistics will be accessible prior to the conference call and webcast on the Company's web site). To access the live webcast, please visit http://www.3ds.com/corporate/investors/. To access the live call, please dial 888-566-8560 (in the U.S.) or +1-517-623-4768 (international). Please use passcode PTC. A replay of the call will be available until 5:00 p.m. ET on Monday, July 30, 2007. To access the replay via webcast, please visit http://www.3ds.com/corporate/investors/. To access the replay by phone, please dial 402-344-6812. Quarterly conference calls will be archived for public replay for a period of three (3) business days from the date of the live call.
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