PMTC stock price is languishing! It is earnings disappointment season, as companies that don't do well warn ahead of the July season! I hope PMTC doesn't screw up!
Monday June 12, 5:13 pm Eastern Time
Company Press Release
PTC Names Posternak New Chairman
WALTHAM, Mass.--(BUSINESS WIRE)--June 12, 2000--PTC (Nasdaq: PMTC - news), a leading provider of Collaborative Product Commerce (CPC) solutions, today announced Noel G. Posternak has been named as its new non-executive Chairman of the Board. Mr. Posternak is a founding partner of Posternak, Blankstein & Lund, L.P.P. and was appointed a director of PTC in 1987, soon after the company was formed. Posternak's career as a corporate attorney spans over 35 years, representing both publicly and privately held companies.
C. Richard Harrison, president and CEO, PTC, said, ``Noel's extensive business acumen will contribute to our strategic direction. Because he has been a long time member of the team, we are able to take immediate advantage of his talents in his new role.''
Posternak commented, ``I am excited about the Company's direction under Harrison. He has the leadership to grow the business and capitalize on the company's assets. His new business unit structure supports the company's multi-market vision.''
Posternak concluded, ``I'd also like to take this opportunity to thank Steven Walske for his long service to the PTC board. Steven played an important role in the success of PTC and in the company becoming a world class organization.'' Walske stepped down as CEO in March and has now resigned from his position on the board.
About PTC
PTC, founded in 1985 and headquartered in Waltham, Mass., USA (Parametric Technology Corporation), develops, markets, and supports collaborative product commerce (CPC) solutions that help manufacturing companies shape innovation and achieve sustainable competitive advantage in the Internet age. These B2B e-commerce solutions employ powerful Web-based collaboration and flexible engineering technologies to streamline product development and delivery processes. PTC's software solutions are complemented by the strength and experience of PTC Global Services, which provides training, consulting, support, and e-commerce services to customers worldwide. With PTC's CPC solutions, manufacturers can take advantage of the Internet to improve product quality, reduce costs, and shorten time-to-market cycles. In its fiscal year ended September 30, 1999, the company achieved more than $1 billion in revenue. PTC can be reached at 781-398-5000, or via the Web at 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 risks and uncertainties include the success of our new organizational model and our ability to successfully transform to a solutions-oriented, multi-product business, together with such other risks and uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10-Q.
PTC 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.
URL: businesswire.com
Contact:
PTC
Investor Relations Contact:
James Kelliher
(781) 398-5561
jkelliher@ptc.com
or
Public Relations Contact:
Roberta Carlton
(781) 398-5479
rcarlton@ptc.com |
