NEEDHAM, Mass. — (BUSINESS WIRE) — April 5, 2012 — PTC (Nasdaq: PMTC) today provided preliminary financial results for its fiscal quarter ended March 31, 2012.
- 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.
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
|PTC Fiscal Q2 Preliminary Results Conference Call and Webcast|
|When:||Thursday, April 5th, 2012 at 8:30 am (ET)|
1-800-857-5592 or 1-773-799-3757
Call Leader: James Heppelmann
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 www.ptc.com/for/investors.htm .