PTC Announces Q1 FY’15 Results; Provides Q2 and Updated FY’15 Outlook
NEEDHAM, MA, January 28, 2015 - PTC (Nasdaq: PTC) today reported results for its first fiscal quarter ended January 3, 2015.
- Q1 Results:
- Non-GAAP revenue of $327 million, up 1% over Q1’14 non-GAAP revenue and up 4% on a constant currency basis; unfavorable currency movements vs. year-ago rates impacted revenue by approximately $12 million.
- Non-GAAP EPS of $0.50, up 1% year over year and up 12% year over year on a constant currency basis; unfavorable currency movements vs. year-ago rates impacted non-GAAP EPS by approximately $0.05.
- Subscription solutions bookings (1) represented 19% of License & Subscription Solutions (L&SS) bookings (2), above our guidance assumption of 15%. We believe this higher than expected level of subscription solutions, while positive long-term, reduced L&SS revenue by $3 million and non-GAAP EPS by $0.02.
- Non-GAAP operating margin of 21.4%, down 400 basis points year over year and down 270 basis points on a constant currency basis.
- GAAP revenue of $325 million, GAAP operating margin of 11.6% and GAAP EPS of $0.26
- Non-GAAP revenue contribution from acquired businesses Atego (acquired on June 30, 2014), and Axeda (acquired on August 11, 2014) was $14 million.