Parametric Technology Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2011; Provides Earnings Guidance for the Second Quarter and Full Year Ending March 31, 2012
January 26, 2012 at 03:39 am IST
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Parametric Technology Corporation reported unaudited consolidated earnings results for the first quarter ended December 31, 2011. For the quarter, the company reported Non-GAAP revenue of $319.8 million, up 20% year over year, and non-GAAP diluted earnings per share of $0.35 compared to non-GAAP diluted earnings per share of $0.22 for the same period last year. GAAP revenue was $318.3 million and GAAP diluted diluted earnings per share was $0.18 compared to GAAP revenue of $266.55 million and GAAP diluted EPS of $0.18 for the same period last year. For the quarter, revenue was negatively impacted by $4.6 million by currency effects and non-GAAP EPS was negatively impacted by $0.01 due to a higher-than-expected tax rate and currency effects. GAAP operating income was $35.51 million compared to $17.11 million for the same period last year. GAAP operating income was $58.79 million compared to $35.35 million for the same period last year. Income before income taxes was $29.86 million compared to $15.22 million for the same period last year. GAAP net income was $22.12 million compared to $13.26 million for the same period last year. Non-GAAP net income was $42.49 million compared to $26.42 million for the same period last year. Net cash provided by operating activities was $36.49 million compared to net cash used in operating activities of $48.04 million for the same period last year. Capital expenditures was $7.57 million compared to $5.41 million for the same period last year.
The company provided earnings guidance for the second quarter ending March 31, 2012. For the quarter, the company expects Non-GAAP revenue of $305 to $320 million, non-GAAP EPS of $0.32 to $0.36, GAAP revenue of $304 to $319 million and GAAP EPS of $0.06 to $0.11, including a $20 million restructuring charge. Revenue guidance assumes approximately $22 million contribution from MKS and 4CS, including $1 million in non-GAAP revenue. The second quarter guidance assumes a non-GAAP tax rate of 25% and a GAAP tax rate of 21%.
For the full year, company expects Non-GAAP revenue of $1,310 to $1,330 million and non-GAAP EPS of $1.58 to $1.62, Non-GAAP operating margin of approximately 20%, up from approximately 18% previously, despite currency effects, GAAP revenue of $1,307 to $1,327 million and GAAP EPS of $0.93 to $0.97, including $20 million restructuring charge. The full year target assumes a non-GAAP tax rate of 25% and a GAAP tax rate of 21%. CapEx will be $28 million to $30 million for the year.
PTC Inc. is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products. Its computer-aided design (CAD) portfolio solutions enable companies to author product data. Its product lifecycle management (PLM) portfolio solutions enable companies to manage product data and orchestrate processes. Its software can be delivered on premises, in the cloud or in a hybrid model. Its PLM products and services include Windchill PLM, ThingWorx, ServiceMax, Arena, Codebeamer, Servigistics, FlexPLM and Kepware. Its CAD products and services include Creo 3D, Onshape, Vuforia and Arbortext. Its Windchill PLM application suite manages all aspects of the product development lifecycle-from concept through service and retirement-by enabling a digital thread of product parts, materials and configuration information. Its ThingWorx platform is flexible and purpose-built for industrial Internet of things.
Parametric Technology Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2011; Provides Earnings Guidance for the Second Quarter and Full Year Ending March 31, 2012