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Technology Stocks : PTC
PTC 190.09-3.2%1:00 PM EST
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To: JDN who wrote (3370)4/8/2000 11:37:00 AM
From: Edwarda  Read Replies (1) of 3646
 
I'll volunteer. Despite the pessimistic tone of my recent observations about the near term, I have no ax to grind whatsoever. I simply want people to understand where the company is right now.

I do not think that all is lost in the core product line. However, it will take time for the company to recover. PMTC tried a "quick fix" by instituting separate quotas for Pro/E in an attempt to stimulate sales and it didn't work. This is not a one-quarter problem of a large deal or two that did not close in time to make the quarter. This is a problem with managing and closing large deals.

What has happened is what concerned me not long ago--namely, that the focus on developing the market for Windchill was robbing Pro/E of resources and that the result would be problems in this core business. The salespeople who left were replaced with people who do not have CAD expertise and experience. The company needs to beef up this part of its salesforce aggressively with seasoned hires who know how to manage large CAD deals. This process is likely to take several quarters, which is why the estimates have been coming down.

In my opinion, the company has a fairly good shot at making this transition if the management can approach it with seriousness of purpose and determination. Perhaps separating the two product lines wholly would help in keeping focus and not sacrificing either. It is one of the options open to the company at this point but not the only one.
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