PTC Q1 Results Top Estimate; Cuts FY15 Outlook

(RTTNews) - PTC Inc. (PTC) reported net income for the first quarter of $30.3 million or $0.26 per share, compared to $39.7 million or $0.33 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $59.0 million or $0.50 per share, compared to $60.2 million or $0.50 per share in the prior year quarter.

Total revenue for the first quarter grew to $325.44 million from $324.93 million a year ago. Adjusted revenue for the latest quarter was $236.85 million.

Analysts polled by Thomson Reuters expected the company to earn $0.49 per share on revenue of $318.13 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenue of $305 million to $320 million, earnings of $0.18 to $0.26 per share and adjusted earnings of $0.42 to $0.50 per share. Analyst currently expect the company to earn $0.54 per share on revenue of $326.85 million for the second quarter.

For the fiscal year 2015, the company now forecasts revenue of $1.320 billion to $1.350 billion, earnings of $1.32 to $1.47 per share and adjusted earnings of $2.20 to $2.35 per share. Previously, the company estimated adjusted revenues of $1.365 billion to $1.385 billion, earnings of $1.33 to $1.40 per share and adjusted earnings of $2.33 to $2.40 per share.

Analyst currently expect the company to earn $2.29 per share on revenue of $1.34 billion for the fiscal year 2015.