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PTC Lowers Outlook

Published: 06 July 2007
 by Staff
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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