PTC Provides Third Quarter 2001 Financial Update
NEEDHAM, Mass., July 5 /PRNewswire/ -- PTC (Nasdaq: PMTC), the product development company(TM), today announced that it expects revenue for the third quarter ended June 30, 2001 to be approximately $228 million to $230 million, below the $235 million low-end of its projected range. The Company expects pro forma earnings per share for the third quarter to be approximately $0.02 - $0.04, excluding the amortization of intangible assets and non- recurring charges, compared to a range of $0.06 to $0.10 previously projected.
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C. Richard Harrison, president and chief executive officer, commented: "The slowdown in manufacturing, particularly in telecommunications and high- tech, was more pronounced this quarter than last. As the third quarter closed, we saw this weakness extend from the U.S. to Europe and Asia, primarily impacting the MCAD product line. Despite the current conditions, we are encouraged by our Windchill results for the quarter, which we expect to be approximately flat sequentially and up year over year.
"While we see no indication that the current economic conditions are likely to improve in the foreseeable future, we continue to believe, based on evidence from customers and industry experts, that PTC is well-positioned for growth as the economy recovers," concluded Harrison. "We remain committed to broadening our distribution with systems integrator partners and value-added resellers. Additionally, our product strategy has evolved with the development of both MCAD and Windchill solutions that deliver high functionality and quick return on investment for our customers."
PTC expects to announce final results for the third quarter on Tuesday, July 17, before the market opens. On that day, the company will hold a conference call to discuss its results and financial guidance at 10 a.m. EDT. A live Web cast will be available on PTC's Web site at www.ptc.com/for/investors.htm. A replay of the conference call and Web cast will be available until Friday, July 20 at 5:00 pm EDT by dialing 402-530- 7960, or visiting www.ptc.com/for/investors.htm. |
