Saved by maintenance (subscriptions). Even though PTC's revenues were down 10%, things could've been much bleaker, since revenue from software licenses were down 44%. It was revenues from maintenance that made the drop a mere 10% -- understandable when maintenance amounts to 80% of the company's income + it actually increased.
'Course, that puts PTC at extreme risk should customers decide that paying several hundred dollars per seat per year just isn't all that important right now.
Revenue estimates for 2009 are now $940 million -- down another $20 million.
Gotta love this line from the press release: "Currency was a $3 million headwind relative to Q2 revenue guidance." Translation: exchange rates cost the company $3 million in lower revenue than previously forecast.
Comments