PTC is the canary in the coal mine we call the CAD business, as it is the first of shareholder-owned CAD vendor to report its quarterly results. The Q2 revenues of $240.6 million are up 7% year-over-year -- but down 7% from last quarter.
Traders took the news poorly, felling the share price by 7% in after hours trading.
The company figures Q3 will bring in $235-$245 million (flat with this quarter), but that the entire year will still nudge it back into billion-dollar territory ($1.015 billion). The company plans to grow itself 20% a year for the next five (2.5x larger, compounded), meaning it has to find another $1.5 billion in revenues from somewhere.
Taking a shot at Autodesk's Carl "We Don't Do PLM" Bass,PTC president James Heppelmann crowed, "We believe there is a lot of momentum in the PLM market...".
PTC is ticked off, however, at the weak Euro, which will harm its revenues by as much as $18 million this year. Oh those Greeks.
Source.
Traders took the news poorly, felling the share price by 7% in after hours trading.
The company figures Q3 will bring in $235-$245 million (flat with this quarter), but that the entire year will still nudge it back into billion-dollar territory ($1.015 billion). The company plans to grow itself 20% a year for the next five (2.5x larger, compounded), meaning it has to find another $1.5 billion in revenues from somewhere.
Taking a shot at Autodesk's Carl "We Don't Do PLM" Bass,PTC president James Heppelmann crowed, "We believe there is a lot of momentum in the PLM market...".
PTC is ticked off, however, at the weak Euro, which will harm its revenues by as much as $18 million this year. Oh those Greeks.
Source.
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