PTC Announces Second Quarter Fiscal Year 2019 Results

(1) Includes $16 million related to our workforce realignment recorded in the first quarter of 2019 and $29 million recorded in the first and second quarters of 2019 related to lease commitments and accelerated depreciation expense associated with exiting the Needham headquarters facility and relocating to our new worldwide headquarters in the Boston Seaport District, which occurred in January 2019.

Fiscal 2019 Business Outlook – ASC 605
For the third quarter and fiscal year ending September 30, 2019, the company expects:

In millions except per share amounts
Operating Measures (1)    

Q3’19
Low

 

Q3’19
High

   

FY’19
Low

 

FY’19
High

 
Subscription ACV $51 $55 $ 207 $ 217
License and Subscription Bookings $110 $120 $ 485 $ 505
Subscription % of Bookings 92% 92% 86% 86%
(1) An explanation of the metrics included in this table is provided below.
 
Financial Measures

Q3’19
Low

Q3’19
High

FY’19
Low

FY’19
High

Subscription Revenue $166 $170 $ 664 $ 670
Support Revenue $105 $105 $424 $425
Perpetual License Revenue $9 $10 $70 $73
Total Software Revenue $280 $285 $1,158 $1,168
Professional Services Revenue $40 $40 $155 $157
Total Revenue $320 $325 $ 1,313 $ 1,325
Operating Expense (GAAP) $221 $223 $ 912 $917
Operating Expense (Non-GAAP) $190 $ 192 $740 $745
Operating Margin (GAAP) 5% 7% 6% 7%
Operating Margin (Non-GAAP) 18% 19% 23% 23%
Tax Rate (GAAP) 30% 30% 30% 30%
Tax Rate (Non-GAAP) 19% 18% 19% 18%
Shares Outstanding 118 118 118   118
EPS (GAAP) $0.03 $0.07 $ 0.25 $ 0.32
EPS (Non-GAAP) $0.31 $0.36 $ 1.75   $ 1.85
Free Cash Flow $ 265   $ 275
Adjusted Free Cash Flow $ 290   $ 300
 

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