PTC reported results for its first fiscal quarter ended December 28, 2013.
Highlights
- Q1 Results:
- Revenue of $325 million, up 1% year over year on non-GAAP Q1’13 revenue and up 2% on a constant currency basis
- Non-GAAP EPS of $0.50, up 37% year over year and on a constant currency basis
- Non-GAAP operating margin of 25.3%, up 700 basis points year over year and on a constant currency basis
- GAAP operating margin of 16.9% and GAAP EPS of $0.33, including a $1 million restructuring charge related to actions announced in Q4’13
- Q1 revenue contribution from acquired businesses Enigma (acquired on July 11, 2013) and NetIDEAS (acquired on September 5, 2013) was $2 million
- Q2 Guidance:
- Revenue of $320 to $330 million and non-GAAP EPS of $0.43 to $0.48
- License revenue of $75 to $90 million
- GAAP EPS of $0.28 to $0.33 (excluding acquisition accounting for the ThingWorx transaction)
- Assumes $1.36 USD / EURO and 104 YEN / USD
- FY’14 Guidance:
- Revenue of $1,330 to $1,345 million and non-GAAP EPS of $2.03 to $2.13
- License revenue of $355 to $370 million
- Non-GAAP operating margin of approximately 25%
- GAAP EPS of $1.38 to $1.48 and GAAP operating margin of approximately 18% (excluding acquisition accounting for the ThingWorx transaction)
- Assumes $1.36 USD / EURO and 104 YEN / USD
The Q1 non-GAAP results exclude $12.8 million of stock-based compensation expense, $12.3 million of acquisition-related intangible asset amortization, $1.1 million of restructuring charges, and $1.3 million of acquisition-related expense. The Q1 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=160001&icg_dbkey=21
