Berutti to Support PTC Growth Through Strategic Partnerships and Corporate
Development
NEEDHAM, Mass., July 27 /PRNewswire-FirstCall/ -- PTC (Nasdaq: PMTC), the
Product Development Company(TM), has named PTC executive William Berutti as
senior vice president, corporate development. In this new role, Berutti will
define strategy and execute plans for enhancing PTC's growth opportunities
through strategic corporate development initiatives.
"We are focused on improving long-term shareholder value through revenue
and earnings growth and anticipate that strategic corporate development
opportunities will play an increasing role in our overall strategy," said C.
Richard Harrison, president and chief executive officer, PTC. "Bill is a
seasoned PTC executive whose strong marketing and business development
background, in addition to his manufacturing expertise, makes him the ideal
person to lead our corporate development activities."
"I am taking on this new challenge at the perfect time for PTC to
capitalize on opportunities within the PLM market," said Berutti. "Industry
analysts have estimated that the PLM market will reach over $14 billion in
total revenue by 2008. My objective will be to create a corporate development
program that increases PTC's share of this expanding marketplace through
strategic opportunities that complement our current PLM solutions."
Berutti most recently served as PTC's senior vice president, strategy and
product marketing. Since joining PTC in 1996, Berutti has held various PTC
management roles, and was responsible for guiding product strategy and
marketing, product planning and technology-oriented business development
activities.
About PTC
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions that
help manufacturers win with superior products. With a total commitment to
product development and product lifecycle management (PLM), the Company
services more than 35,000 customers worldwide. PTC is included in the S&P 500
and Russell 2000 indices. Further information on PTC is available at
http://www.ptc.com/index.htm.
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 growth of the PLM market and our
ability to facilitate our customers' understanding of the benefits of our PLM
solutions and differentiated product development system offering, including
return on investment, ease of use, and value creation in order to create the
foundation for future revenue growth; the success of our efforts to leverage
our new reduced cost structure and strategic corporate development
opportunities to achieve our longer term revenue growth and operating margin
goals; our ability to effectively execute and implement strategic initiatives
with our significantly reduced cost structure; and continued improvement in
the IT spending environment which until recently has been weak and 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.
Public Relations Contact: Investor Relations Contact:
Maria Battaglia Meredith Mendola
781-370-5245 781-370-6151
mbattaglia@ptc.com mmendola@ptc.com
SOURCE PTC
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Related links:
http://www.ptc.com
CONTACT:
Public Relations, Maria Battaglia,
+1-781-370-5245, mbattaglia@ptc.com, or Investor Relations
Contact, Meredith Mendola, +1-781- 370-6151, mmendola@ptc.com,
both of PTC
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