Product lifecycle management software vendor PTC has reported a 56% decline in net income to $15.9m for the fourth quarter 2009, compared to $36.5m in the same quarter last year. Revenue was down 18% at $246.3m. Skip related content
Operating income fell 68% to $15.2m, while diluted EPS fell 58% to $0.13. Cash and cash equivalents at the end of the quarter was $235.1m. The company said license revenue fell 32% to $70.7m, and services revenue fell 10% to $176m.
For fiscal 2009, the company reported a 61% decline in net income to $31.5m compared to a net income of $80m in the same quarter last year. Revenue was down 12% at $938.2m.
Neil Moses, chief financial officer, said, "Our Q4 operating margins and EPS were stronger than expected primarily due to stronger than expected license revenue. Our balance sheet remains solid with $235m of cash. We also have an additional $172m available on our revolving credit facility. We expect that the actions we took in FY’09 to right-size our business to the current economic conditions, and allow us to improve our non-GAAP operating margin to approximately 15%."
Looking ahead to the first quarter, the company expects revenue of $230m to $240m and non-GAAP EPS of $0.12 to $0.18. For fiscal 2010, the company expects revenue of $980m and non-GAAP EPS of $0.96.
