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Written by Administrator
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Friday, 06 July 2007 |
NEEDHAM, MA — Parametric Tech said yesterday its third-quarter revenue would be roughly $225 million, well below its previous guidance of $235 million to $240 million.
Despite a 4% year-on-year increase in total revenue for the quarter, license revenue in North America and Japan is projected to be $62 million, far short of expectations, CEO and president C. Richard Harrison said.
The company has begun reducing costs, Harrison said.
The company also expects to lower fourth-quarter guidance.
In April 2004, Parametric acquired Ohio Design, known for its InterComm electronics design verification, visualization and collaboration software.
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