PTC Announces Third Quarter FY’16 Results
(4) In the third quarter of 2016, we began a fixed income investment
plan for a portion of our offshore cash. In connection with the plan, we
invested $50 million in investment grade securities with a weighted
average maturity of less than 18 months.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PTC Inc.
|
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
|
|
July 2,
|
|
July 4,
|
|
|
July 2,
|
|
July 4,
|
|
|
|
|
|
2016
|
|
2015
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
$
|
3,073
|
|
|
$
|
17,435
|
|
|
|
$
|
(25,992
|
)
|
|
$
|
53,111
|
|
|
Stock-based compensation
|
|
|
|
|
13,796
|
|
|
|
14,071
|
|
|
|
|
51,821
|
|
|
|
38,135
|
|
|
Depreciation and amortization
|
|
|
|
|
21,817
|
|
|
|
21,250
|
|
|
|
|
64,721
|
|
|
|
63,455
|
|
|
Accounts receivable
|
|
|
|
|
(5,118
|
)
|
|
|
22,195
|
|
|
|
|
58,499
|
|
|
|
44,906
|
|
|
Accounts payable and accruals
|
|
|
|
|
7,831
|
|
|
|
7,169
|
|
|
|
|
(9,861
|
)
|
|
|
(10,029
|
)
|
|
Deferred revenue
|
|
|
|
|
20,573
|
|
|
|
19,193
|
|
|
|
|
44,592
|
|
|
|
51,393
|
|
|
Income taxes
|
|
|
|
|
(8,644
|
)
|
|
|
(9,043
|
)
|
|
|
|
(17,470
|
)
|
|
|
(25,608
|
)
|
|
Excess tax benefits from stock-based awards
|
|
|
|
|
(38
|
)
|
|
|
234
|
|
|
|
|
(94
|
)
|
|
|
71
|
|
|
Other
|
|
|
|
|
6,167
|
|
|
|
(5,665
|
)
|
|
|
|
3,380
|
|
|
|
(22,971
|
)
|
|
Net cash provided by operating activities (5)
|
|
|
|
|
59,457
|
|
|
|
86,839
|
|
|
|
|
169,596
|
|
|
|
192,463
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
|
|
(7,766
|
)
|
|
|
(6,530
|
)
|
|
|
|
(16,632
|
)
|
|
|
(20,637
|
)
|
|
Acquisitions of businesses, net of cash acquired (6)
|
|
|
|
|
-
|
|
|
|
(98,591
|
)
|
|
|
|
(164,191
|
)
|
|
|
(98,411
|
)
|
|
Proceeds (payments) on debt, net
|
|
|
|
|
(60,000
|
)
|
|
|
93,750
|
|
|
|
|
110,000
|
|
|
|
12,500
|
|
|
Proceeds from issuance of common stock
|
|
|
|
|
18
|
|
|
|
32
|
|
|
|
|
19
|
|
|
|
38
|
|
|
Payments of withholding taxes in connection with
|
|
|
|
|
|
|
|
|
|
|
|
|
vesting of stock-based awards
|
|
|
|
|
(5,165
|
)
|
|
|
(7,253
|
)
|
|
|
|
(20,636
|
)
|
|
|
(29,117
|
)
|
|
Repurchases of common stock
|
|
|
|
|
-
|
|
|
|
(49,962
|
)
|
|
|
|
-
|
|
|
|
(49,962
|
)
|
|
Excess tax benefits from stock-based awards
|
|
|
|
|
38
|
|
|
|
(234
|
)
|
|
|
|
94
|
|
|
|
(71
|
)
|
|
Purchase of investments
|
|
|
|
|
(44,605
|
)
|
|
|
(10,000
|
)
|
|
|
|
(44,605
|
)
|
|
|
(11,000
|
)
|
|
Contingent consideration
|
|
|
|
|
(9,371
|
)
|
|
|
-
|
|
|
|
|
(10,621
|
)
|
|
|
-
|
|
|
Other financing & investing activities
|
|
|
|
|
(5,709
|
)
|
|
|
-
|
|
|
|
|
(6,759
|
)
|
|
|
-
|
|
|
Foreign exchange impact on cash
|
|
|
|
|
(727
|
)
|
|
|
(806
|
)
|
|
|
|
4,944
|
|
|
|
(14,397
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
|
|
(73,830
|
)
|
|
|
7,245
|
|
|
|
|
21,209
|
|
|
|
(18,594
|
)
|
|
Cash and cash equivalents, beginning of period
|
|
|
|
|
368,456
|
|
|
|
267,815
|
|
|
|
|
273,417
|
|
|
|
293,654
|
|
|
Cash and cash equivalents, end of period
|
|
|
|
$
|
294,626
|
|
|
$
|
275,060
|
|
|
|
$
|
294,626
|
|
|
$
|
275,060
|
|
|
|
|
