PTC Message Board - Msg: 13345073

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Technology Stocks : PTC

PTC 175.99

+1.2%

3:59 PM EST

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To: Box-By-The-Riviera™ who wrote (3251)	4/4/2000 10:03:00 AM
From: Lynn	Read Replies (1) of 3646

ML Research Comment: "Parametric Technology Corp. The Song Remains The Same:" NEUTRAL Long Term BUY Reason for Report: Quarterly pre-announcement Jay Vleeschhouwer First Vice President Investment Highlights: Yesterday we lowered our intermediate opinion from Buy to Neutral, following PTC?s mid-day announcement of an expected shortfall in 2Q00 results. Revenues for both Windchill and the base MDA business will be well below our forecast. We have lowered our estimates for the balance of FY00 and for FY01. What remains to be seen is what steps PTC will take to restore sales and distribution effectiveness, and perhaps other cost and organizational changes, in order to enable more predictable growth and deal closure. Fundamental Highlights: PTC announced that revenues would be about 15% below consensus, or about $228 million, with breakeven earnings or a small loss. We had been estimating $265 million and $0.09 a share. Windchill revenues were put at about $40 million, compared with our $55 million estimate, suggesting MDA revenues of about $188 million, down 25% year/year. We have revised FY00E to $998 million and $0.18 a share from $1.14 billion and $0.49 a share. [meat of report deleted] Lynn

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