NEEDHAM, Mass.—(BUSINESS WIRE)—December 14, 2006— PTC (Nasdaq: PMTC), today announced that it has reached agreement with RAND A Technology Corporation and Rand Technologies Limited to settle all pending litigation between the parties. The parties agreed to settle their disputes to avoid further litigation costs. Neither party admitted liability with respect to any claims made.
PTC previously announced that if a settlement were reached before
the filing of its 2006 Annual Report on Form 10-K, it would be treated
as a subsequent event that would impact earnings results for the
fiscal year ended September 30, 2006. As a result of the agreement to
settle and consistent with its earlier guidance, PTC has recorded an
operating expense charge during the fourth quarter of 2006 that lowers
fourth quarter and fiscal year earnings results announced on November
1, 2006 by $0.02 per diluted share. There was no impact on revenue.
Today, PTC filed its Annual Report on Form 10-K, which includes
2006 financial results reflecting this charge. PTC has also updated
the operating metrics it provides on its investor web site, which can
be found at www.ptc.com/for/investors.htm under "Financial Reports."
PMTC) provides leading product lifecycle management
(PLM), content management and dynamic publishing solutions to more
than 40,000 companies worldwide. PTC customers include the world's
most innovative companies in manufacturing, publishing, services,
government and life sciences industries. PTC is included in the S&P
500 and Russell 2000 indices. For more information on PTC, please