NEEDHAM, Mass., July 2 /PRNewswire-FirstCall/ -- PTC (Nasdaq: PMTC) today
announced that it expects revenue for the fiscal 2003 third quarter ended June
28, 2003 to be approximately $165 million, compared with the Company's
guidance of approximately $170 million. GAAP net loss per share for the third
quarter is expected to be in the range of $0.12 to $0.14. This includes
restructuring charges of approximately $8 million associated with PTC's
previously announced cost reduction plan, as well as a charge of approximately
$6 million to increase previously established liabilities for excess leased
facilities associated with PTC's 1998 acquisition of Computervision
Corporation.
"Our net loss for the quarter will be higher than expected, due primarily
to the facilities charge made necessary by the weakened commercial real estate
market in the Northeast U.S.," said Neil Moses, executive vice president and
chief financial officer. "We are aggressively implementing the operating cost
reductions announced in April. These actions should result in a modest
benefit to operating expenses in the third quarter, with a more pronounced
benefit in the fourth quarter as we position ourselves for profitability in
2004."
"Revenue growth continues to be challenging as the manufacturing sector
has remained stagnant," added C. Richard Harrison, president and chief
executive officer. "Nevertheless, our commitment to our strategy has
significantly improved our ability to help customers drive value within
product development more quickly and cost-effectively. This has clearly
strengthened the confidence our customers have in PTC and our competitive
position in the marketplace."
PTC expects to announce final results for the third quarter on Wednesday,
July 16, before the market opens. On that day at 10 a.m. ET, the Company will
hold a conference call and live webcast to discuss its results and provide an
outlook update (the earnings press release and accompanying financial and
operating statistics will be accessible prior to the conference call and
webcast on the Company's web site). To access the live webcast, please visit
http://www.ptc.com/for/investors.htm. To access the live call, please dial 888-829-
8668 (in the U.S.) or +1-630-395-0019 (international). Please use passcode
PTC. A replay of the call will be available until 5:00 p.m. ET on July 21,
2003. To access the replay via webcast, please visit
http://www.ptc.com/for/investors.htm. To access the replay by phone, please dial
402-530-7895.
About PTC
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions that
help manufacturers win with superior products. PTC is the world's largest
software company with a total commitment to product development and product
lifecycle management. The company services more than 35,000 customers
worldwide. Further information on PTC is available at http://www.ptc.com.
Except for the historical information contained herein, matters discussed
in this news release may constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those projected. These include: the Company's final operating results for
the third quarter of fiscal 2003; continued execution of our cost reduction
initiatives; the success of our initiatives to facilitate our customer's
understanding of the benefits of our product development system, including
return on investment and value creation, and the effects of a weak IT spending
environment which has impacted the overall demand for software and related
services; as well as other risks and uncertainties detailed from time to time
in reports filed by PTC with the Securities and Exchange Commission, including
the Company's most recent reports on Form 10-K and 10-Q.
PTC, The Product Development Company, Product First, Pro/ENGINEER,
Wildfire, Windchill, and all PTC product names and logos are trademarks or
registered trademarks of Parametric Technology Corporation or its subsidiaries
in the United States and in other countries.
Investor Relations Contact: Public Relations Contact:
Meredith Mendola Joe Gavaghan
781-370-6151 781-370-5074
mmendola@ptc.com jgavaghan@ptc.com
SOURCE PTC
 back to top
Related links:
http://www.ptc.com
CONTACT:
Meredith Mendola, +1-781-370-6151,
mmendola@ptc.com, or Joe Gavaghan, +1-781-370-5074,
jgavaghan@ptc.com, both for PTC
|
