The corrected release reads:
PTC ANNOUNCES RECORD Q4 AND FULL FISCAL 2008 REVENUE
Issues Q1 Guidance and Full Fiscal Year 2009 Targets
PTC (Nasdaq: PMTC - News), The Product Development Company®, today reported results for its fiscal fourth quarter and year ended September 30, 2008.
Highlights
- Q4 non-GAAP Results: Revenue of $300.2 million and EPS of $0.45
- Q4 GAAP Results: Revenue of $299.5 million and EPS of $0.31
- FY 2008 non-GAAP Results: Revenue of $1,075 million with EPS of $1.36
- FY 2008 GAAP Results: Revenue of $1,070 million with EPS of $0.68
- Q1 non-GAAP Guidance: Revenue of $250 to $260 million with EPS of $0.23 to $0.29
- Q1 GAAP Guidance: Revenue of $250 to $260 million with EPS of $0.11 to $0.17
- FY 2009 non-GAAP Target: Revenue of $1,100 million with EPS of $1.35 to $1.40
- FY 2009 GAAP Target: Revenue of $1,100 million with EPS of $0.85 to $0.90
Q4 Results
C. Richard Harrison, president and chief executive officer, commented, “We achieved record revenue in our fourth quarter and full fiscal year. Our non-GAAP year-over-year revenue growth was 13% in the fourth quarter and 14% for the full year, reflecting contribution from the CoCreate Software business acquired on November 30, 2007, favorable currency impact and organic growth. Importantly, we achieved $502 million in non-GAAP maintenance revenue in FY’08, which is largely a recurring revenue stream, and our reseller channel delivered 39% year-over-year growth.” GAAP year-over-year revenue growth was 12% for the fourth fiscal quarter and 14% for the full year. GAAP maintenance revenue was $498 million. Non-GAAP revenue and non-GAAP maintenance revenue exclude the effect of purchase accounting on the acquired deferred maintenance revenue balance of CoCreate of approximately $1 million in the fourth quarter and $5 million for the full year.
The following tables provide further detail on PTC’s GAAP revenue performance by line of business, region and distribution channel. Further financial and operating metrics are available on PTC’s web site at www.ptc.com/for/investors.htm.
| ($ in millions) |
Q4 FY
|
Q1 FY
|
Q2 FY’08 |
Q3 FY
|
Q4 FY
|
Q4
|
FY
|
FY
|
|||||||||||||||
| License | $ | 96.1 | $ | 67.2 | $ | 72.9 | $ | 77.6 | $ | 98.5 | 3 | % | $ | 316.2 | 7 | % | |||||||
| Services | 64.6 | 60.2 | 63.8 | 63.8 | 68.8 | 7 | % | 256.6 | 8 | % | |||||||||||||
| Maintenance | 106.0 | 113.8 | 121.1 | 130.3 | 132.2 | 25 | % | 497.5 | 22 | % | |||||||||||||
| Total | $ | 266.7 | $ | 241.2 | $ | 257.8 | $ | 271.7 | $ | 299.5 | 12 | % | $ | 1,070.3 | 14 | % | |||||||
| Europe | $ | 101.6 | $ | 101.6 | $ | 106.2 | $ | 111.8 | $ | 130.7 | 29 | % | $ | 450.3 | 27 | % | |||||||
| Americas | 102.2 | 84.5 | 88.2 | 90.0 | 101.9 | 0 | % | 364.6 | 0 | % | |||||||||||||
| Pacific Rim | 34.3 | 30.0 | 33.5 | 34.2 | 39.5 | 15 | % | 137.2 | 9 | % | |||||||||||||
| Japan | 28.6 | 25.1 | 29.9 | 35.7 | 27.4 | -4 | % | 118.2 | 21 | % | |||||||||||||
| Total | $ | 266.7 | $ | 241.2 | $ | 257.8 | $ | 271.7 | $ | 299.5 | 12 | % | $ | 1,070.3 | 14 | % | |||||||
| Direct | $ |
215.3 |
$ | 182.5 | $ | 190.3 | $ | 201.3 | $ | 224.2 | 4 | % | $ | 798.4 | 7 | % | |||||||
| Channel |
51.4 |
58.7 | 67.5 | 70.4 | 75.3 | 47 | % | 271.9 | 39 | % | |||||||||||||
| Total | $ | 266.7 | $ | 241.2 | $ | 257.8 | $ | 271.7 | $ | 299.5 | 12 | % | $ | 1,070.3 | 14 | % | |||||||
