— 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.