PTC reported financial results for its fiscal first quarter 2019. Financial Summary - ASC 606 (1)
- Revenue of $335 million
- GAAP net income was $21 million or $0.18 per diluted share; non-GAAP net income was $67 million or $0.56 per diluted share
- GAAP operating margin of 9%; non-GAAP operating margin of 27%
Financial Summary ASC 605 (1)
- Revenue of $339 million
- GAAP net income was $19 million or $0.16 per diluted share; non-GAAP net income was $68 million or $0.57 per diluted share
- GAAP operating margin of 10%; non-GAAP operating margin of 28% (1)
We adopted ASC 606 on October 1, 2018, which impacted our reported financial results, including the timing and classification of revenue. For comparability purposes, and unless otherwise specified, the amounts included in the commentary below refer to results under ASC 605, as shown in our financial statements, including the notes thereto.
“Our financial performance in the first quarter was solid, with revenue, operating margin and EPS results exceeding our expectations,” said James Heppelmann, President and CEO. “We continued to make important strides against our major strategic initiatives during the quarter, most notably, we successfully completed our transition to a subscription business model.”
