CIMdata PLM Industry Summary Online Archive

5 April 2012

Financial News

PTC Provides Preliminary Q2 FY’12 Results

PTC provided preliminary financial results for its fiscal quarter ended March 31, 2012.

Highlights

•Q2 Non-GAAP revenue of approximately $300 million and non-GAAP EPS of $0.26-$0.28

•Q2 GAAP revenue of approximately $299 million and GAAP EPS of $0.00-$0.02

•Q2 license revenue of approximately $75 million

•Q2 revenue contribution from MKS (acquired on May 31, 2011) and 4CS Solutions (acquired on September 2, 2011) was $23 million on a non-GAAP basis and $22 million on a GAAP basis

The preliminary Q2 non-GAAP revenue results exclude a $1 million effect of purchase accounting on the fair value of the acquired deferred maintenance balance of MKS Inc. The preliminary Q2 non-GAAP EPS results also exclude $13 million of stock-based compensation expense, $9 million of acquisition-related intangible asset amortization, $21 million of restructuring expense, and related income tax adjustments. The preliminary Q2 results include a non-GAAP tax rate of approximately 25%, an immaterial GAAP tax provision and 121 million diluted shares outstanding.

Results Commentary

James Heppelmann, president and chief executive officer, commented, “Our second quarter license revenue was impacted by a large transaction in Europe that did not close and lower than expected performance in North America. Our maintenance and services business continued to perform well, as did our newly acquired MKS business, with the shortfall in Q2 revenue relative to our guidance of $305 to $320 million due to reduced license sales. While we are disappointed with our Q2 results, we are strategically positioned in attractive growth markets and remain confident in our ability to drive long-term growth and profitability.”

Senior management will host a live webcast and conference call on Thursday, April 5, 2012 at 8:30 am Eastern Time to discuss Q2 preliminary results. PTC will release final Q2 results on Wednesday, April 25th after the stock market closes. Senior management will host a live webcast and conference call to review the results on Thursday, April 26th at 8:30 am Eastern Time.

Q2 Preliminary Results Conference Call and Webcast

Replay:     The audio replay of this event will be archived for public replay until 4:00 pm (CT) on April 15, 2012 at 1-800-947-6583. To access the replay via webcast, please visit http://www.ptc.com/for/investors.htm.

Q2 Final Results Conference Call and Webcast

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 web site at http://www.ptc.com/.

What:         PTC Fiscal Q2 Final Results Conference Call and Webcast

When:     Thursday, April 26th, 2012 at 8:30 am (ET)

Dial-in:     1-800-857-5592 or 1-773-799-3757

Call Leader: James Heppelmann

Passcode: PTC

Webcast:     http://www.ptc.com/for/investors.htm

Replay:     The audio replay of this event will be archived for public replay until 4:00 pm (CT) on May 6, 2012 at 1-866-463-4960. To access the replay via webcast, please visit http://www.ptc.com/for/investors.htm.

Important Information About Non-GAAP References

PTC provides non-GAAP supplemental information to its financial results. Non-GAAP revenue, operating expenses, margin and EPS exclude the effect of purchase accounting on the fair value of the acquired deferred maintenance balance of MKS Inc., stock-based compensation expense, amortization of acquired intangible assets, acquisition-related expenses, restructuring charges, certain foreign currency transaction losses, and the related tax effects of the preceding items and any one-time tax items. We use these non-GAAP measures, and we believe that they assist our investors, to make period-to-period comparisons of our operational performance because they provide a view of our operating results without items that are not, in our view, indicative of our core operating results. We believe that these non-GAAP measures help illustrate underlying trends in our business, and we use the measures to establish budgets and operational goals, communicated internally and externally, for managing our business and evaluating our performance. We believe that providing non-GAAP measures affords investors a view of our operating results that may be more easily compared to the results of peer companies. In addition, compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. However, non-GAAP information should not be construed as an alternative to GAAP information as the items excluded from the non-GAAP measures often have a material impact on PTC’s financial results. Management uses, and investors should consider, non-GAAP measures in conjunction with our GAAP results.

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