PTC reported results for its third fiscal quarter ended June 28, 2014.
Highlights
Q3 Results:
- Revenue of $337 million, up 7% over Q3'13 non-GAAP revenue and up 5% on a constant currency basis
- Non-GAAP EPS of $0.53, up 19% year over year and up 14% year over year on a constant currency basis
- Non-GAAP operating margin of 24.2%, up 200 basis points year over year and up 130 basis points year over year on a constant currency basis
- GAAP operating margin of 16.2% and GAAP EPS of $0.32
- Q3 revenue contribution from acquired businesses Enigma (acquired on July 11, 2013), NetIDEAS (acquired on September 5, 2013), and ThingWorx (acquired on December 30, 2013) was $3 million
Q4 Guidance:
- Revenue of $340 to $355 million and non-GAAP EPS of $0.59 to $0.63
- License revenue of $95 to $110 million
- GAAP EPS of $0.39 to $0.43 (excluding the pending Axeda transaction and acquisition accounting for Atego)
- Assumes $1.35 USD / EURO and 101 YEN / USD
FY'14 Guidance:
- Revenue of $1,330 to $1,345 million and non-GAAP EPS of $2.10 to $2.14
- License revenue of $352 to $367 million
- Non-GAAP operating margin of approximately 25%
- GAAP EPS of $1.40 to $1.44 and GAAP operating margin of approximately 17% (excluding the pending Axeda transaction and acquisition accounting for Atego)
The Q3 non-GAAP results exclude $12.5 million of stock-based compensation expense, $12.4 million of acquisition-related intangible asset amortization, and $1.5 million of acquisition-related and pension plan termination costs. The Q3 non-GAAP EPS results include a tax rate of 19% and 120 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=162801&icg_dbkey=21
