PTC Announces Q1 Results, Initiates Q2 Guidance and Updates FY’13 Targets

(3) In the first quarter of 2012 we recorded $0.8 million of foreign currency transaction losses related to legal entity mergers completed during the quarter.

(4) Reflects the tax effects of non-GAAP adjustments for the first quarter of 2013 and 2012, which are calculated by applying the applicable tax rate by jurisdiction to the non-GAAP adjustments listed above, as well as one-time non-cash GAAP charges. In the fourth quarter of 2012, a valuation allowance was established against our U.S. net deferred tax assets. As the U.S. is profitable on a non-GAAP basis, the 2013 non-GAAP tax provision is being calculated assuming there is no U.S. valuation allowance and as a result an income tax benefit of $6.2 million is included in the first quarter of 2013. The first quarter of 2013 also includes a one-time non-cash tax benefit of $32.6 million related to the release of a portion of the valuation allowance as a result of deferred tax liabilities established in accounting for the acquisition of Servigistics. In the first quarter of 2012, the tax effects exclude one-time non-cash GAAP charges net, of $1.4 million related to the impact from a reduction in the statutory tax rate in Japan on deferred tax assets from a litigation settlement.

PARAMETRIC TECHNOLOGY CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
       
 
December 29, September 30,
2012 2012
 
ASSETS
 
Cash and cash equivalents $ 248,392 $ 489,543
Accounts receivable, net 221,687 217,370
Property and equipment, net 66,109 63,466
Goodwill and acquired intangible assets, net 1,048,000 796,232
Other assets 218,458 225,023
   
Total assets $ 1,802,646 $ 1,791,634
 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
Deferred revenue $ 303,107 $ 327,529
Borrowings under credit facility 368,125 370,000
Other liabilities 305,456 296,846
Stockholders' equity 825,958 797,259
   
Total liabilities and stockholders' equity $ 1,802,646 $ 1,791,634
 
 
PARAMETRIC TECHNOLOGY CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
         
 
 
Three Months Ended
December 29, December 31,
2012 2011
 
Cash flows from operating activities:
Net income $ 35,811 $ 22,123
Stock-based compensation 11,893 13,382
Depreciation and amortization 19,477 17,026
Accounts receivable 16,142 13,295
Accounts payable and accruals (5) (27,958 ) (32,856 )
Deferred revenue (3,534 ) (2,075 )
Income taxes (33,779 ) (2,409 )
Excess tax benefits from stock-based awards (28 ) (150 )
Other   (4,388 )   8,149  
Net cash provided by operating activities (6) 13,636 36,485
 
Capital expenditures (7,393 ) (7,570 )
Acquisitions of businesses, net of cash acquired (7) (222,423 ) (880 )
Proceeds (payments) on debt, net (1,875 ) -
Proceeds from issuance of common stock 645 7,196

Payments of withholding taxes in connection with
     vesting of stock-based awards

(9,348 ) (12,661 )
Repurchases of common stock (15,792 ) -
Excess tax benefits from stock-based awards 28 150
Foreign exchange impact on cash   1,371     (3,247 )
 
Net change in cash and cash equivalents (241,151 ) 19,473
Cash and cash equivalents, beginning of period   489,543     167,878  
Cash and cash equivalents, end of period $ 248,392   $ 187,351  

 


« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
SolidCAM: Program your CNCs directly inside your existing CAD system.


Featured Video
Jobs
Sr. Mechanical Engineer for Kateeva at Newark, CA
Mgr Mechanical Engineering 2 for Northrop Grumman at Melbourne, FL
MECHANICAL ENGINEER for Peter R. Thom and Associates at ORINDA, CA
Senior Design Engineer for Kaman at Gilbert, AZ
Upcoming Events
Solidworks World 2017 at Los Angeles CA - Feb 5 - 8, 2017
Design & Manufacturing at Anaheim Convention Center Anaheim CA - Feb 7 - 9, 2017
ACE 2017 Nashville at Nashville TN - Mar 21 - 23, 2017
Innorobo 2017 at Docks de Paris Paris France - May 16 - 18, 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