CIMdata PLM Industry Summary Online Archive

13 September 2004

Financial News

PTC Receives IRS Notification of Income Tax Refund of Approximately $37 Million

PTC announced that it has received notification of a favorable resolution from the United States Department of the Treasury's Internal Revenue Service regarding an examination of the Company's income tax returns for the years 1998 through 2000, which will result in a tax refund to PTC of approximately $37 million, including interest which is subject to a final calculation by the IRS.

The refund will also result in a one-time benefit to the Company's tax provision of approximately $16 million in the current quarter ending September 30, 2004. The impact of this one-time benefit to PTC's earnings per share will be approximately $0.06. PTC expects to receive the refund within 45 days.

 

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