Product category:
3D CAD software
News Release from: PTC - Parametric Technology (UK)
Edited by the Engineeringtalk Editorial
Team on 27 April 2007
Revenue rises for software company
PTC's second quarter results reflected significant year-over-year growth in Europe and North America and strength across all product lines.
PTC has reported revenue of US $228.1 million for the second quarter ended March 31, 2007, up 14% from the same period last year Total licence revenue for the second quarter of 2007 was US $71.3 million, up 31% from the same period last year
This article was originally published on Engineeringtalk on 13 Mar 2002 at 8.00am (UK)
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Results for the second quarter of 2007 reflected significant year-over-year growth in Europe and North America and strength across all product lines.
"Our results reflect our continued success in the market", said Richard Harrison, President and Chief Executive Officer.
"For the past two years, we have delivered revenue growth that is higher than overall market growth".
"This is the result of strong execution of our strategy to drive customer success by delivering highly differentiated solutions that are broad, scalable and integral".
"Additionally, our operating performance reflects continued operating margin expansion and earnings growth".
GAAP operating income for the second quarter of 2007 was US $21.3 million, compared with US $15.1 million in the year-ago period.
GAAP net income for the second quarter of 2007 was US $17.4 million, or US $0.15 per diluted share, compared with GAAP net income of US $10.8 million, or US $0.09 per diluted share, in the year-ago period.
Non-GAAP operating income, which excludes stock-based compensation cost and amortisation of acquisition-related intangible assets, was US $33.6 million, or 15% of total revenue for the second quarter of 2007, compared with US $26.8 million, or 13% of total revenue in the year-ago period.
Non-GAAP net income, which excludes the items excluded from non-GAAP operating income and the related tax effect of those items, was US $28.2 million for the second quarter of 2007, or US $0.24 per diluted share, compared to US $22.5 million in the year-ago period, or US $0.20 per diluted share.
Cash and cash equivalents were US $238 million at the end of the second fiscal quarter of 2007, up from US $147 million at the end of the first fiscal quarter of 2007 primarily due to better than anticipated receivables collections, including seasonal annual maintenance collections.
Cash flow from operations was US $92.5 million and US $76.1 million for the second quarter and first six months of 2007 respectively.
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