PTC today reported results for its second fiscal quarter ended March 29, 2014.
Highlights
Q2 Results:
- Revenue of $329 million, up 4% over Q2'13 non-GAAP revenue and up 5% on a constant currency basis
- Non-GAAP EPS of $0.48, up 17% year over year and up 18% on a constant currency basis
- Non-GAAP operating margin of 24.4%, up 440 basis points year over year on both a reported and constant currency basis
- GAAP operating margin of 15.6% and GAAP EPS of $0.36
- Q2 revenue contribution from acquired businesses Enigma (acquired on July 11, 2013), NetIDEAS (acquired on September 5, 2013), and ThingWorx (acquired on December 30, 2013) was $4 million
Q3 Guidance:
- Revenue of $325 to $340 million and non-GAAP EPS of $0.48 to $0.52
- License revenue of $80 to $95 million
- GAAP EPS of $0.31 to $0.35
- Assumes $1.38 USD / EURO and 103 YEN / USD
FY'14 Guidance (Revenue increase of $5 million and EPS increase of $0.02):
- Revenue of $1,335 to $1,350 million and non-GAAP EPS of $2.05 to $2.15
- License revenue of $355 to $370 million
- Non-GAAP operating margin of approximately 25%
- GAAP EPS of $1.40 to $1.50 and GAAP operating margin of approximately 18%
- Assumes $1.38 USD / EURO and 103 YEN / USD
The Q2 non-GAAP results exclude $12.6 million of stock-based compensation expense, $12.4 million of acquisition-related intangible asset amortization, and $3.9 million of acquisition-related expense. The Q2 non-GAAP EPS results include a tax rate of 25% and 121 million diluted shares outstanding.
To view an unabridged version of this press release, visit: http://www.ptc.com/appserver/wcms/standards/textsub.jsp?&im_dbkey=161358&icg_dbkey=21
