PTC Announces Q4 and FY’09 Results

Issues Q1 FY’10 Guidance and FY’10 Targets

NEEDHAM, Mass. — (BUSINESS WIRE) — October 27, 2009 — PTC (Nasdaq: PMTC), The Product Development Company®, today reported results for its fourth fiscal quarter and full fiscal year ended September 30, 2009.

Highlights

  • Q4 Results: Revenue of $246.3 million and non-GAAP EPS of $0.30
    • Non-GAAP operating margin of 18.4%; GAAP operating margin of 6.2%
    • GAAP EPS of $0.13, including $6.3 million restructuring charge to reduce operating expenses
    • Relative to Q4 guidance, currency was favorable to revenue by approximately $1.6 million and unfavorable to expenses by approximately $0.7 million
  • FY’09 Results: Revenue of $938.2 million and non-GAAP EPS of $0.80
    • Non-GAAP operating margin of 12.9%; GAAP operating margin of 2.1%
    • GAAP EPS of $0.27, including $22.7 million in restructuring charges to reduce operating expenses
  • FY 2010 Targets: Revenue of approximately $980 million and non-GAAP EPS of approximately $0.96
    • Non-GAAP operating margin of approximately 15%; GAAP operating margin of approximately 7%
    • GAAP EPS of approximately $0.43
    • Assumes $1.46 USD / EURO
  • Q1 Guidance: Revenue of $230 to $240 million and non-GAAP EPS of $0.12 to $0.18
    • GAAP EPS of ($0.02) to $0.04
    • Assumes $1.46 USD / EURO

The Q4 non-GAAP results exclude a $6.3 million restructuring charge, $14.6 million of stock-based compensation expense, $9.2 million of acquisition-related intangible asset amortization and $10.3 million of income tax adjustments. The Q4 results include a non-GAAP tax rate of 21% and a GAAP tax benefit rate of 7%.

The FY’09 non-GAAP results exclude a $22.7 million restructuring charge, $43.3 million of stock-based compensation expense, $35.6 million of acquisition-related intangible asset amortization and acquired in-process research and development expenses and $39.6 million of income tax adjustments. The FY’09 results include a non-GAAP tax rate of 21% and a GAAP tax benefit rate of 84%.

Results Commentary & Outlook

C. Richard Harrison, chairman and chief executive officer, commented, “We exit fiscal 2009 on solid financial footing with a product portfolio that has never been in better shape. Our decision to invest in R&D through the downturn is paying off as we are seeing some very encouraging signs of market momentum, especially as it relates to our Windchill product suite.”

“Our constant currency non-GAAP FY’09 revenue was down 9% compared to last year,” continued Harrison. “While license revenue was down 34%, maintenance and services revenue were up 3% and 1%, respectively, highlighting the stability of our business model and the support of a solid customer base. We are continuing to see positive sequential data points: 1) we again delivered license revenue growth in all of our major geographies except Japan, 2) we had better license and total revenue in North America than we did in Q4’08, which was PTC’s best revenue quarter ever, 3) we won 2 additional strategically important “domino” accounts, and 4) we also had a number of other large Windchill competitive wins during Q4.”

“Our pipeline for new business opportunities remains strong and lead times to close enterprise deals seem to be shortening,” continued Harrison. “We received major orders from leading organizations such as AVIC, Carrier, Deere & Company, General Atomics, Ingersoll Rand, ITT Corporation, and Stryker.”

1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
HP

Autodesk - DelCAM

Featured Video
Jobs
CAD Systems Administrator for KLA-Tencor at Milpitas, CA
Principal Research Mechatronics Engineer for Verb Surgical at Mountain View, CA
Senior Mechanical Engineer for Verb Surgical at Mountain View, CA
Lead Geospatial Analyst for Alion at McLean, VA
Industrial Designer Intern – Spring 2017 for Nvidia at Santa Clara, CA
Upcoming Events
SOLIDWORKS 2017 Launch Event – Walsall at Village Hotel Club, Walsall, WS2 8TJ Walsall United Kingdom - Mar 30, 2017
PI APPAREL Hong Kong 2017 at SHANGRI-LA KOWLOON 64 Mody Road Tsim Sha Tsui East Kowloon Hong Kong - Apr 5 - 6, 2017
SOLIDWORKS intro and hands on session – Slough at Baylis House, Slough, Berkshire, SL1 3PB Slough United Kingdom - Apr 7, 2017
Engineer 3D! Training + Technology Conference at Hyatt Regency Milwaukee 333 West Kilbourn Avenue Milwaukee WI - Apr 25 - 26, 2017
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise