PTC reports seven p.c. increase in revenue

BANGALORE: PTC, a product development company, has reported its results for the third fiscal quarter ended July 2, 2005.

The company registered seven percent increase in revenue to $180.3 million from $168.4 million for the same period last year. PTC said the growth was driven by strength in North America and Europe, and its consulting and training services worldwide.

Net income for the third quarter was $26.7 million, or $0.10 per diluted share, compared with net income of $16.1 million, or $0.06 per diluted share, in the year-ago period.

The third quarter net income includes an income tax benefit of $4.4 million due to the favorable resolution of a foreign jurisdiction tax audit. Excluding this benefit, PTC's third quarter net income was $22.3 million, or $0.08 per diluted share.

The year-ago period net income included restructuring charges of $3.5 million. Cash and cash equivalents grew to $403.0 million at the end of the third quarter from $384.2 million at the end of the second quarter of 2005.

During and after the end of the quarter, PTC has acquired three companies: Arbortext Inc., a leader in dynamic enterprise publishing, Polyplan Technologies Inc., a technology leader in manufacturing planning and Aptavis Technologies Corporation, an exclusive provider of Windchill-based solutions for the retail, footwear and apparel industry.

PTC's revenue forecast for the fourth quarter of fiscal 2005 is between $190 million and $195 million. Total non-GAAP fourth quarter operating costs are expected to be between $165 million and $170 million.

For the fiscal year ending September 30, 2005, PTC expects revenue to be between $715 million and $720 million.