logo
Share SHARE
FONT-SIZE Plus   Neg

PTC Q2 Profit Soars, Lifts FY13 Earnings Outlook - Quick Facts

PTC Inc. (PMTC: Quote) Wednesday reported a sharp rise in profit for the second quarter, helped mainly by higher revenues. The company has also raised its full-year 2013 earnings outlook, but has cut revenue forecast for the same.

Net income for the quarter surged to $17.04 million or $0.14 per share from $3.57 million or $0.03 per share in the comparable quarter last year.

Adjusted earnings for the quarter was $0.41 per share. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled $313.95 million, up from $301.13 million last year. Adjusted revenues for the quarter was $315 million. Analysts expected revenues of $315.92 million.

Looking ahead to the second quarter, the company has forecast earnings in the range of $0.22 to $0.27 per share, with adjusted earnings in the order of $0.40 to $0.45 per share.

Revenues are expected to range between $314 million and $329 million, with adjusted revenues in the range of $315 million to $330 million.

Analysts, based on consensus, currently expect second-quarter profit of $0.45 per share and revenues of $337.59 million.

For the fiscal year 2013, the company has lifted its earnings outlook to a range of $1.03 to $1.13 per share, with adjusted earnings in the order of $1.70 to $1.80 per share. The company earlier expected to report full-year earnings in the range of $0.95 to $1.05 per share. Revenues are currently projected in the range of $1.30 billion to $1.31 billion, with adjusted revenues ranging between $1.31 billion to $0.32 billion. This compares to previous guidance range of $1.34 billion to $1.37 billion.

Analysts currently expect the company to report full-year earnings of $1.77 per share on revenues of $1.35 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet video service Sling TV, on Wednesday said HBO would be available in time for the "Game of Thrones" and "Silicon Valley" season premieres on April 12, but did not specify a launch date. Memory chip maker Micron Technology, Inc. said Wednesday after the markets closed that its second quarter profit rose 28% from last year, helped by higher sales and lower income tax expenses. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly sales. Apple Watch is expected to post robust sales in the first weekend after its launch on April 24. A craze for Apple Watch may catapult the smartwatch industry into a lucrative market, while a not-so-impressive response for the Apple device may weigh on the industry.
comments powered by Disqus
RELATED NEWS
Trade PMTC now with 
Follow RTT