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Parametric Technology Corp. (PMTC) Broke Out To A New High On Q1 Results

Parametric Technology Corp. (PMTC) reported first quarter non-GAAP net income of $0.35 per share after the close Wednesday, up from $0.22 per share in the prior year. The consensus estimate was for EPS of $0.31. Second quarter non-GAAP EPS is expected to be between $0.32 and $0.36, compared to the consensus estimate of $0.33.

Parametric Technology gapped up Thursday and spiked higher in early trade, before settling into a range. Shares finished up by 4.07 at $25.64 on the highest volume of the year. The stock surged past resistance and closed at a new high for the year.

by RTTNews Staff Writer

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