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Friday, July 10, 2015

PTC Announces Preliminary Third Quarter FY15 Results

PTC today reported preliminary results for the third quarter FY’15 of approximately $303 million revenue and $0.13 to $0.14 earnings per share, including a legal accrual described below under “Other Important Information.” Third quarter FY’15 non-GAAP revenue was approximately $304 million and $0.51 to $0.52 non-GAAP earnings per share. Software revenue of approximately $250 million, including $84 million of license and subscription solutions (L&SS) revenue, was slightly below the guidance range while professional services revenue of approximately $54 million was in line with guidance. The company expects subscription solutions bookings, as a percentage of L&SS bookings, to be approximately 16% for the third quarter FY'15, slightly below guidance of 18%, due in part to several large perpetual license transactions in our Internet of Things business.

James Heppelmann, President and CEO said, “PTC preliminary third quarter non-GAAP earnings are above the high end of our guidance despite revenue coming in just below our guidance range. Although we saw a number of large deals in our core business push out at the end of the quarter, we delivered strong sequential growth in our Internet of Things business, closing a number of significant deals among large, industrial companies that are adopting our platform for their IoT initiatives.”

Information about our bookings measure, our use of non-GAAP measures and how these preliminary results may change is discussed in “Bookings Metric,” “Important Information about Non-GAAP References” and “Forward-Looking Statements” below.

Other Important Information

In connection with our ongoing negotiations to resolve previously disclosed investigations by the U.S. Securities & Exchange Commission and the Department of Justice with respect to our China business, we expect to record a liability of approximately $13.6 million in our third quarter financial statements. This is the minimum amount of liability we expect to incur if we are able to reach a settlement in this matter, and does not include any amounts associated with potential fines that might be imposed by either or both of the SEC and DOJ, which amounts would increase our liability and could be significant. Because our discussions with the SEC and DOJ are ongoing, the amount of this accrual could increase by the time we release our third quarter results on July 29, 2015. Further, there can be no assurance that we will reach a settlement with these agencies or that the cost of such settlements, if reached, would not materially exceed the existing accrual.

Third Quarter FY’15 Results Webcast and Conference Call Information

PTC will release its fiscal 2015 third quarter results on Wednesday, July 29 after the stock market closes. Senior management will host a live webcast and conference call to review the results on Wednesday, July 29 at 4:30 pm Eastern Time. The earnings press release and accompanying prepared remarks will be accessible prior to the conference call and webcast on the Investor Relations section of the Company's website at www.ptc.com.

What:

 

 

 

PTC Third Quarter Fiscal 2015 Conference Call and Webcast

       

 

When:

     

Wednesday, July 29th, 2015 at 4:30pm (ET)

       

 

Dial-in:

     

1-800-857-5592 or 1-773-799-3757

Call Leader: James Heppelmann

Passcode: PTC

       

 

Webcast:

     

www.ptc.com/for/investors.htm

       

 

Replay:

     

The audio replay of this event will be archived for public replay until end of day on August 8th, 2015.

Dial-in: 866-489-2845 Passcode: 1205

To access the replay via webcast, www.ptc.com/for/investors.htm

Please note that statements made on the conference call are as of the date of the call and PTC does not assume any obligation to update any statements made live or the archived call. Matters discussed may include forward-looking statements about PTC's anticipated financial results and growth, as well as about other matters, which are based on then current plans and assumptions. Actual results in future periods may differ materially from expectations due to a number of risks and uncertainties, including those described in our filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

To view the original press release, please click here.

Search for PTC on CIMdata.com

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