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Down: PTC's Q1 2004 Financial Results

reprinted by permission of Ralph Grabowski, editor

January 27, 2004

See Also

  PTC website
  PRO/ENGINEER directory - by TenLinks
  Pro/E Reading Room - by CADdigest.com

"Down" describes the PTC's financials for its first quarter this year. Revenue was US$156.8 million, compared with:

  • $163.7 million in the previous quarter (-4.2%).
  • $172.0 million for the same quarter a year earlier (-8.8%).

Net loss was $26.5 million, compared with:

  • -$38.0 million in the previous quarter.
  • -$11.4 million for the same quarter a year earlier.

Leave out the restructuring charge of $21.6 million, and things look a bit better. The company still has $190.1 million in the bank.

Revenues from CAD were down 4%, partly due to higher sales of lower-priced software. Revenues from PLM were down 6%.

For the next quarter, PTC thinks that revenues will continue flat, in the range of $150 to $160 million. With 80% of its restructuring behind it, PTC hopes to have a net profit soon.

When the numbers are down, executives need to sound cheery: "We are in business to win, to be a PLM leader." And look for bright spots: Mitsubishi Heavy Industries gave up on CATIA 5 after a two-year attempt at implementation. This year, they bought $1-million worth of Pro/E seats.

Pro/E Wildfire 2 is due to ship in February or March.

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