Tuesday, Parametric Technology Corp. (PMTC) reported first-quarter net income of $17.86 million or $0.15 per share, compared to net income of $4.66 million or $0.04 per share in the same quarter last year.
On a non-GAAP basis, net income was $33.30 million or $0.27 per share, compared to net income of $17.53 million or $0.15 per share in the prior year quarter.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter increased to $258.43 million from $240.39 million in the comparable quarter last year. Analysts expected the company to report revenue of $233.18 million for the quarter.
Looking ahead to the second quarter, the company expects revenue in the range of $235 million - $245 million with earnings in the range of $0.02 - $0.07 per share. On a non-GAAP basis, net income is expected to be in the range of $0.14 - $0.20 per share. Analysts currently anticipate the company to earn $0.20 per share on revenue of $234.34 million for the quarter.
For the full year 2010, the company expects revenue in the range of $1.015 billion with earnings of $0.50 per share. On a non-GAAP basis, net income if expected to be $1.00 per share. Previously the company expected to report revenue of $980 million with earnings of $0.43 per share and adjusted earnings of $0.96 per share. Analysts currently anticipate the company to earn $0.95 per share on revenue of $976.69 million for the quarter.
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