Highlights
- Q3 non-GAAP Results: Revenue of $272.7 million and EPS of $0.33
- Q3 GAAP Results: Revenue of $271.7 million and EPS of $0.12
- Q4 non-GAAP Guidance: Revenue of $290 to $300 million with EPS of $0.38 to $0.42
- Q4 GAAP Guidance: Revenue of $289 to $299 million with EPS of $0.21 to $0.25
- FY 2008 non-GAAP Guidance: Revenue of $1,070 million with 22% operating margin
- FY 2008 GAAP Guidance: Revenue of $1,065 million with 12% operating margin
Q3 Results
C. Richard Harrison, president and chief executive officer, commented, “We achieved 21% year-over-year non-GAAP revenue growth in the third quarter reflecting contribution from the CoCreate Software business acquired on November 30, 2007, organic revenue growth and favorable currency impact. Importantly, we achieved double digit license revenue growth in every region except the Pacific Rim.” GAAP year-over-year revenue growth for the third fiscal quarter was 21%. Our third quarter non-GAAP revenue excludes the effect of purchase accounting on the acquired deferred maintenance revenue balance of CoCreate of approximately $1 million.
The following tables provide further detail on PTC’s GAAP revenue performance by line of business, region and distribution channel. Further financial and operating metrics are available on PTC’s web site at www.ptc.com/for/investors.htm.
| ($ in millions) |
Q2
|
Q3
|
Q4
|
Q1
|
Q2
|
Q3
|
Y-Y
|
||||||||||||||
| License | $ | 71.3 | $ | 62.1 | $ | 96.1 | $ | 67.2 | $ | 72.9 | $ | 77.6 | 25 | % | |||||||
| Services | 58.0 | 59.7 | 64.6 | 60.2 | 63.8 | 63.8 | 7 | % | |||||||||||||
| Maintenance | 98.8 | 103.1 | 106.0 | 113.8 | 121.1 | 130.3 | 26 | % | |||||||||||||
| Total Revenue | $ | 228.1 | $ | 224.9 | $ | 266.7 | $ | 241.2 | $ | 257.8 | $ | 271.7 | 21 | % | |||||||
| Europe | $ | 82.9 | $ | 86.2 | $ | 101.6 | $ | 101.6 | $ | 106.2 | $ | 111.8 | 30 | % | |||||||
| North America | 89.4 | 86.9 | 102.2 | 84.5 | 88.2 | 90.0 | 4 | % | |||||||||||||
| Pacific Rim | 30.7 | 32.6 | 34.3 | 30.0 | 33.5 | 34.2 | 5 | % | |||||||||||||
| Japan | 25.1 | 19.2 | 28.6 | 25.1 | 29.9 | 35.7 | 86 | % | |||||||||||||
| Total Revenue | $ | 228.1 | $ | 224.9 | $ | 266.7 | $ | 241.2 | $ | 257.8 | $ | 271.7 | 21 | % | |||||||
|
Direct (a) |
$ | 179.2 | $ | 177.3 | $ | 215.3 | $ | 182.5 | $ |
190.3(a) |
$ | 201.3 | 14 | % | |||||||
|
Channel (a) |
48.9 | 47.6 | 51.4 | 58.7 |
67.5(a) |
70.4 | 48 | % | |||||||||||||
| Total Revenue | $ | 228.1 | $ | 224.9 | $ | 266.7 | $ | 241.2 | $ | 257.8 | $ | 271.7 | 21 | % | |||||||
