NEEDHAM, Mass. — (BUSINESS WIRE) — October 3, 2016 — PTC (Nasdaq: PTC) today announced that preliminary bookings for the fourth fiscal quarter ended September 30, 2016 are expected to be between $139 million and $142 million, above the high end of the company’s previous guidance of $111 million to $121 million. There are two mega deals (>$5 million in bookings) in the quarter, including a competitive PLM displacement within one of the top Tier 1 global automotive suppliers, and a worldwide cloud implementation of PTC’s service parts management solution – both a testament to PTC’s leading technology position in these markets.

PTC also now expects its Q4’16 bookings subscription mix to be approximately 70%, significantly exceeding its prior guidance of 46%. Due primarily to the higher than expected subscription mix, and also the incremental commission expense associated with bookings and subscription outperformance, we expect GAAP and non-GAAP revenue, and GAAP and non-GAAP EPS to be below the low end of our prior guidance.

In addition, in support of continued realignment of resources toward higher growth opportunities and driving long-term margin expansion, PTC now expects FY’16 restructuring charges of approximately $75 to $80 million, above the $50 million to $70 million range included in the company’s Q3’16 form 10-Q filed on August 11, 2016, and the $40 million to $50 million range included in our Q4’16 guidance on July 20, 2016.

Fiscal Q4’16 and Fiscal 2016 Earnings Conference Call and Webcast

PTC will release its fiscal 2016 fourth quarter and year-end results on Wednesday, October 26^th after the stock market closes. Senior management will host a live webcast and conference call to review the results on Wednesday, October 26^th at 5pm Eastern Time. The earnings press release and accompanying prepared remarks will be accessible prior to the conference call and webcast on the Investor Relations section of the Company’s web site at PTC - Investor Relations.