PTC Announces Q4 and FY’09 Results
(2) Reflects a one-time non-cash loss from the liquidation of certain
legal entities related to previous acquisitions.
(3) Reflects the tax effect of non-GAAP adjustments above, as well as
the effect of a $7.6 million one-time tax benefit recorded in the second
quarter of 2009 due to the recognition of deferred tax assets in a
foreign jurisdiction.
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PARAMETRIC TECHNOLOGY CORPORATION
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
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(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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September 30,
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September 30,
|
|
|
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2009
|
|
2008
|
|
|
|
|
|
|
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ASSETS
|
|
|
|
|
|
|
|
|
|
|
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Cash and cash equivalents
|
|
$
|
235,122
|
|
$
|
256,941
|
|
Accounts receivable, net
|
|
|
166,591
|
|
|
201,509
|
|
Property and equipment, net
|
|
|
58,105
|
|
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55,253
|
|
Goodwill and acquired intangibles, net
|
|
|
596,517
|
|
|
587,537
|
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Other assets
|
|
|
293,877
|
|
|
248,333
|
|
|
|
|
|
|
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Total assets
|
|
$
|
1,350,212
|
|
$
|
1,349,573
|
|
|
|
|
|
|
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LIABILITIES AND STOCKHOLDERS' EQUITY
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|
|
|
|
|
|
|
|
|
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Deferred revenue
|
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$
|
234,270
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|
$
|
258,295
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Borrowings under revolving credit facility
|
|
|
57,880
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|
|
88,505
|
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Other liabilities
|
|
|
296,481
|
|
|
300,248
|
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Stockholders' equity
|
|
|
761,581
|
|
|
702,525
|
|
|
|
|
|
|
|
Total liabilities and stockholders' equity
|
|
$
|
1,350,212
|
|
$
|
1,349,573
|
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PARAMETRIC TECHNOLOGY CORPORATION
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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(in thousands)
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
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Three Months Ended
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Year Ended
|
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|
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September 30,
|
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September 30,
|
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September 30,
|
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September 30,
|
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|
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2009
|
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2008
|
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2009
|
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2008
|
|
|
|
|
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|
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|
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Cash flows from operating activities:
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|
|
|
|
|
|
|
|
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Net income
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$
|
15,900
|
|
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$
|
36,504
|
|
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$
|
31,522
|
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$
|
79,702
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Stock-based compensation
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14,555
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|
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11,715
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|
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43,328
|
|
|
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44,396
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|
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Depreciation and amortization
|
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16,052
|
|
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16,537
|
|
|
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61,610
|
|
|
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60,021
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|
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Accounts receivable
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(10,566
|
)
|
|
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(27,813
|
)
|
|
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56,889
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|
|
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42,006
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Accounts payable and accruals (4)
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10,705
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|
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15,915
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|
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(19,281
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)
|
|
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(13,240
|
)
|
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Deferred revenue
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|
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(24,556
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)
|
|
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(14,228
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)
|
|
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(27,256
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)
|
|
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2,077
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|
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In-process research and development
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|
|
--
|
|
|
|
--
|
|
|
|
300
|
|
|
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1,887
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|
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Income taxes
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(13,329
|
)
|
|
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2,933
|
|
|
|
(66,700
|
)
|
|
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4,578
|
|
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Other
|
|
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(3,288
|
)
|
|
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(429
|
)
|
|
|
2,358
|
|
|
|
813
|
|
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Net cash provided by operating activities
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|
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5,473
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|
|
|
41,134
|
|
|
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82,770
|
|
|
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222,240
|
|
|
|
|
|
|
|
|
|
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Capital expenditures
|
|
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(6,278
|
)
|
|
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(4,947
|
)
|
|
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(30,087
|
)
|
|
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(25,439
|
)
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Acquisitions of businesses, net of cash acquired (5)
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|
|
--
|
|
|
|
--
|
|
|
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(32,790
|
)
|
|
|
(261,592
|
)
|
|
Proceeds from (payments on) debt, net
|
|
|
--
|
|
|
|
(10,860
|
)
|
|
|
(31,951
|
)
|
|
|
88,139
|
|
|
Repurchases of common stock
|
|
|
(4,576
|
)
|
|
|
--
|
|
|
|
(14,157
|
)
|
|
|
(27,297
|
)
|
|
Other investing and financing activities
|
|
|
2,256
|
|
|
|
4,928
|
|
|
|
562
|
|
|
|
1,615
|
|
|
Foreign exchange impact on cash
|
|
|
6,902
|
|
|
|
(15,334
|
)
|
|
|
3,834
|
|
|
|
(3,996
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
3,777
|
|
|
|
14,921
|
|
|
|
(21,819
|
)
|
|
|
(6,330
|
)
|
|
Cash and cash equivalents, beginning of period
|
|
|
231,345
|
|
|
|
242,020
|
|
|
|
256,941
|
|
|
|
263,271
|
|
|
Cash and cash equivalents, end of period
|
|
$
|
235,122
|
|
|
$
|
256,941
|
|
|
$
|
235,122
|
|
|
$
|
256,941
|
|
|
