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by Stephanie Neil, MA Editorial Staff
Posted on Tuesday, June 07, 2005 4:18:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    Orlando, FL. -- Cloud cover in the sunshine state yesterday didn't damper the mood at Parametric Technology Corp.'s PTC/User World Event 2005. The company used the event to announce two acquisitions, two major product upgrades, a strategic partnership with IBM, and to boldly declare it will be a $1 billion company by 2008. Halfway into its 2005 fiscal year, the Needham, MA maker of product development software is predicting revenue of around $700 million, up slightly from the $660 million reported last year. For the second quarter, ended April 2, PTC reported net income of $20.5 million on revenues of $176.1 million compared with net income of $3.2 million (which included a restructuring charge of $16.7 million) on revenues of $164.7 million in the like period of 2004. PTC's growth has flattened over the last year as it pushes to refresh key components of its product line. During a press and analyst briefing here, executives pointed to PTC's strengths: the company carries no debt, and has been restructuring its business model to position itself for growth. "The company transformation is around a mindset shift from selling products to understanding customer value," said Barry Cohen, PTC's executive vice president of strategic services and partners, during his presentation. [Click to continue] |
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