CIMdata PLM Industry Summary Online Archive
6 November 2013
Financial News
PTC Announces Q4 and FY’13 Results
PTC reported results for its fourth fiscal quarter and year ended September 30, 2013.
Highlights
Q4 Results:
- Non-GAAP revenue of $345 million, up 6% year over year (up 6% on a constant currency basis)
- Non-GAAP EPS of $0.59, up 19% year over year (up 20% on a constant currency basis)
- Non-GAAP operating margin of 27.4%, up 300 basis points year over year (up approximately 310 basis points on a constant currency basis)
- GAAP revenue of $345 million, GAAP operating margin of 14.2% and GAAP EPS of $0.47, including an $18 million restructuring charge
- Q4 revenue contribution from acquired businesses including Servigistics (acquired on October 2, 2012), Enigma (acquired on July 11, 2013) and NetIDEAS (acquired on September 5, 2013) was $27 million on both a GAAP and non-GAAP basis.
FY'13 Results:
- Non-GAAP revenue of $1,297 million, up 3% year over year (up 5% on a constant currency basis)
- Non-GAAP EPS of $1.81, up 20% year over year (up 24% on a constant currency basis)
- Non-GAAP operating margin of 22.1%, up 247 basis points year over year (up approximately 285 basis points on a constant currency basis)
- GAAP revenue of $1,294 million, GAAP EPS of $1.19, and GAAP operating margin of 9.8%.
Q1 Guidance:
- Revenue of $310 to $320 million and non-GAAP EPS of $0.41 to $0.46
- License revenue of $70 to $80 million
- GAAP EPS of $0.23 to $0.28
- Assumes $1.35 USD / EURO and 98 YEN / USD
FY'14 Guidance:
- Revenue of $1,325 to $1,340 million and non-GAAP EPS of $2.00 to $2.10
- License revenue of $350 to $365 million
- Non-GAAP operating margin of approximately 25%
- GAAP EPS of $1.28 to $1.38 and GAAP operating margin of approximately 18%
- Assumes $1.35 USD / EURO and 98 YEN / USD
The Q4 and FY'13 non-GAAP revenue and non-GAAP EPS results exclude a $0.3 million (for Q4) and a $3.0 million (for FY'13) effect of purchase accounting on the fair value of the deferred revenue balance of acquired companies. The Q4 and FY'13 non-GAAP EPS results also exclude $13.9 million (for Q4) and $48.8 million (for FY'13) of stock-based compensation expense, $11.4 million (for Q4) and $45.1 million (for FY'13) of acquisition-related intangible asset amortization, $17.8 million (for Q4) and $52.2 million (for FY'13) of restructuring charges, $2.2 million (for Q4) and $9.9 million (for FY'13) of acquisition-related expense, and $0.6 million (for Q4) and $5.7 million (for FY'13) of non-operating gains. The Q4 and FY'13 non-GAAP EPS results include a tax rate of 23% (for Q4) and 22% (for FY'13) 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=158622&icg_dbkey=21
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