Parametric Technology Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2012; Provides Earnings Guidance for the Second Quarter; Revises Earnings Guidance for the Fiscal Year 2013
January 23, 2013 at 04:58 pm EST
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Parametric Technology Corporation reported unaudited consolidated earnings results for the first quarter ended December 29, 2012. For the quarter, the company reported total revenue of $319,751,000 against $318,276,000 a year ago. Operating income was $13,859,000 against $32,505,000 a year ago. Income before income taxes was $12,054,000 against $29,862,000 a year ago. Net income was $35,811,000 or $0.29 per diluted share against $22,123,000 or $0.18 per diluted share a year ago. On non-GAAP basis, the company reported net income of $44,121,000 or $0.36 diluted earnings per share against net income of $42,490,000 or $0.35 diluted earnings per share a year ago. Non-GAAP operating income was $58,569,000 against $58,789,000 a year ago. Non-GAAP revenue was $321,305,000 against $319,798,000 a year ago. Net cash provided by operating activities was $13,636,000 and capital expenditures were $7,393,000 against net cash provided by operating activities of $36,485,000 and capital expenditures of $7,570,000 a year ago.
The company provided earnings guidance for the second quarter, Non-GAAP revenue of $305 million to $325 million and non-GAAP EPS of $0.32 to $0.39. The expect GAAP revenue of $304 million to $324 million and GAAP EPS of $0.03 to $0.10, including $15 million of restructuring charges. A non-GAAP tax rate of 18% reflecting the extension of the federal R&D tax credit, a GAAP tax rate of 30%.
Full year 2013, the company was targeting non-GAAP revenue of $1,340 million to $1,370 million, reflecting a wider range on license guidance given the macroeconomic environment, as well as a $10 million reduction to previous services revenue guidance. The have increased non-GAAP gross margin target for fiscal year 2013 by 100 bps reflecting continued improvements in its Services business. Non-GAAP EPS target remains $1.70 to $1.80. It expects GAAP revenue of $1,337 million to $1,367 million, GAAP operating margin of approximately 11% and GAAP EPS of $0.95 to $1.05. Assume a non-GAAP tax rate of 22%, a GAAP tax rate of 12%.
PTC Inc. is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products. Its computer-aided design (CAD) portfolio solutions enable companies to author product data. Its product lifecycle management (PLM) portfolio solutions enable companies to manage product data and orchestrate processes. Its software can be delivered on premises, in the cloud or in a hybrid model. Its PLM products and services include Windchill PLM, ThingWorx, ServiceMax, Arena, Codebeamer, Servigistics, FlexPLM and Kepware. Its CAD products and services include Creo 3D, Onshape, Vuforia and Arbortext. Its Windchill PLM application suite manages all aspects of the product development lifecycle-from concept through service and retirement-by enabling a digital thread of product parts, materials and configuration information. Its ThingWorx platform is flexible and purpose-built for industrial Internet of things.
Parametric Technology Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2012; Provides Earnings Guidance for the Second Quarter; Revises Earnings Guidance for the Fiscal Year 2013