• May 28, 2022
  • Machine Tools
  • Cutting Tools
  • Software
  • Metrology
  • Accessories
  • Mechatronics
  • About us
  • Contact us
  • REGISTER
  • SIGN IN
www.cnctimes.com logo
  • News
  • CT+
  • Webinar
  • Knowledge Center
    • INDUSTRY UPDATES
    • INTERVIEWS
    • VIDEOS
    • TECHNICAL ARTICLES
    • CASE STUDIES
    • PRODUCT SHOWCASE
    • BLOGS
    • SUCCESS STORIES
    • NEWSLETTERS
  • Start Your Subscription
  • Register
  • Sign in

Information

Please login to give the feedback.

Subscription Plans

Subscription Type
Duration
Months
News
Articles
Blogs
Case Studies
Videos
Product Updates
Webinar
Amount
CT
Lifetime
Lifetime
Full Access
Limited Access
Full Access
Limited Access
Limited Access
Limited Access
No Discount
INR 0.00
CT+
6 Months
6 Months
Full Access
Full Access
Full Access
Full Access
Full Access
Full Access
5% Discount
INR 599.00
CT+
Annual
12 Months
Full Access
Full Access
Full Access
Full Access
Full Access
Full Access
10% Discount
INR 999.00

Subscription Plans

Subscription Type
Duration
Months
News
Articles
Blogs
Case Studies
Videos
Product Updates
Webinar
Amount
CT
Lifetime
Lifetime
Full Access
Limited Access
Full Access
Limited Access
Limited Access
Limited Access
No Discount
INR 0.00
CT+
6 Months
6 Months
Full Access
Full Access
Full Access
Full Access
Full Access
Full Access
5% Discount
INR 599.00
CT+
Annual
12 Months
Full Access
Full Access
Full Access
Full Access
Full Access
Full Access
10% Discount
INR 999.00
Successfully registered. Please check your email to activate account.

Registration
  • Sign In



Sorry Captcha Unsuccessful!!

Sign In


OR
If your not registered user first Register
  1. Home
  2. News
  3. PTC Announces Third Quarter Fiscal 2017 Results

PTC Announces Third Quarter Fiscal 2017 Results

25 July, 2017
  • Tweet
  • share via email
Your comment has been posted.
We have sent you a verification email. To verify, just follow the link in the message.
Some technical error. Please try again.

By Niraj M Wanikar, Chief Editor, CNCTimes.com, 2017-07-25 11:10:00

PTC (NASDAQ: PTC) today reported financial results for its fiscal third quarter ended July 1, 2017.

  • Total GAAP revenue was $291 million; total non-GAAP revenue was $292 million
  • GAAP operating income was $11 million or 4% of revenue; non-GAAP operating income was $45 million or 15% of revenue
  • GAAP net loss was $1 million or $0.01 per diluted share; non-GAAP net income was $33 million or $0.28 per diluted share
  • License and subscription bookings were $90 million and subscription mix was 64%; Annual Contract Value (ACV) of new subscription contracts signed in the quarter was $29 million
  • Total deferred revenue, billed and unbilled, increased $251 million to $909 million from the same period last year
  • Subscription Annualized Recurring Revenue (ARR) increased $171 million or 131% to $302 million from the same period last year

“PTC delivered total revenue and earnings per share at or near the high-end of our guidance,” said James Heppelmann, President and CEO, PTC. “Led by subscription revenue growth of 135% and recurring software revenue growth of 11%, total software revenue grew 4% year-over-year, despite a higher mix of subscription bookings than last year. We remain focused on creating long-term shareholder value by driving growth, expanding margins and transitioning to a subscription-based business model.”

Heppelmann continued, “We are excited about both the transformation we are driving in our core business and our leadership position in IoT. In addition to attracting over 8,000 in-person and virtual attendees to LiveWorx, we recently received two 2017 Compass Intelligence IoT Awards, and our strong technology and market position received further validation in IDC’s MarketScape report, which placed PTC squarely in the IoT platform leadership category and also recognized PTC as the market share leader.”

Additional third quarter operating and financial highlights are set forth below. Information about our bookings and other reporting measures is provided beginning on page four. For additional details, please refer to the prepared remarks and financial data tables that have been posted to the Investor Relations section of our website at investor.ptc.com.

  • License and subscription bookings were $90 million. License and subscription bookings were below our expectations in the quarter due to sales execution issues in Japan. Actions to improve performance in Japan are underway. Compared to Q3’16, license and subscription bookings were down 14% as reported and 13% in constant currency due almost entirely to Japan. Q3’16 bookings also present a tough comparison, as bookings grew 32% over Q3’15 as reported and 31% in constant currency. On a year-to-date basis, bookings were $275 million, an increase of 6% year-over-year as reported and 7% in constant currency, despite a year-to-date decline in bookings in Japan of $20 million.
  • Subscription bookings comprised 64% of total bookings, modestly below our expectations primarily due to subscription bookings performance below our expectations, but also due to one large IoT deal that closed as a perpetual license. Subscription mix of 64% increased from 58% in the same period last year.
  • Total deferred revenue – billed and unbilled - increased $251 million or 38% year-over-year and 3% sequentially to $909 million. Billed deferred revenue increased 9% year-over year and declined 6% sequentially to $465 million, as expected, due to timing of support contract billings during the year. Billed deferred revenue can fluctuate quarterly based upon the contractual billings dates in our recurring revenue contracts as well as the timing of our fiscal reporting periods.
  • GAAP and non-GAAP software revenue were both approximately $248 million, an increase of 4% year-over-year as reported and 5% year-over-year in constant currency, despite a higher mix of subscription bookings than last year.
  • Approximately 87% of software revenue came from recurring revenue streams, up from 81% in the same period last year.
  • Annualized recurring revenue (ARR) was approximately $865 million, an increase of 11% year-over-year.
  • GAAP operating expenses were approximately $198 million, compared to $199 million in the same period last year; non-GAAP operating expenses were approximately $174 million, compared to $175 million in the same period last year.
  • Operating cash flows were $74 million, and free cash flow was $69 million, both of which include cash payments for restructuring of approximately $6 million and legal payments of approximately $2 million.
  • Total cash, cash equivalents, and marketable securities as of the end of the third quarter was $311 million and total debt, net of deferred issuance costs, was $712 million.
  • We resumed share buybacks in Q3’17 and repurchased $35 million worth of shares in the quarter, which represents more than 50% of free cash flow in the quarter.

Fiscal 2017 Business Outlook can be found here

  • Follow @CNCTimes

Captcha is required.
Sorry Captcha Unsuccessful!!

Latest News

  • 28 May, 2022

    Modi wants drones to be as common as mobile phones

  • 28 May, 2022

    Innovation award for smart metal cutting

  • 28 May, 2022

    Autodesk invests in RADiCAL, AI-powered 3D motion capture

  • 28 May, 2022

    Fluorescence measurement technology success in production quality assurance

  • 28 May, 2022

    Successful industrialisation and digitalisation of AM

  • 28 May, 2022

    Kassow Robots showcasing the KR Series of 7-axis Cobots

  • 28 May, 2022

    ARCH acquires Diversified Precision Products, scaling customized precision capabilities

  • 27 May, 2022

    Simpler automation for 5-axis machining cell

  • 27 May, 2022

    GelSight streamlines inspection workflows

  • 27 May, 2022

    Siemens streamlines, secures embedded RISC-V development

  • 27 May, 2022

    WonderBotz partners with Krista Software for AI-led intelligent automation

  • 27 May, 2022

    Fastems’ flexible pallet container

  • 27 May, 2022

    Kennametal’s KCK20B and KCKP10 indexable milling grades

  • 27 May, 2022

    India to launch national green hydrogen mission in 2 months

  • 25 May, 2022

    Sandvik to acquire Spain-based Preziss, a solutions provider for aluminum and composite machining

  • 23 May, 2022

    Rock steady workholding from 5th Axis and Grip-Tec

  • 23 May, 2022

    AMT, SVR join forces for Advancement of Robotics Transformative Technology

  • 23 May, 2022

    Foreign Direct Investment at record high, led by manufacturing sector

  • 23 May, 2022

    Studer goes for the grind at Mazak

  • 23 May, 2022

    AH3225 Grade inserts increase tool life and reliability

  • 23 May, 2022

    Mahr expands ultraprecise multi-sensor form measurement range

Previous Next

Related News

  • 23 May, 2022

    InfinityQS introduces dedicated proficient on demand in private-cloud environment

    Category: Software
  • 19 May, 2022

    Materialise introduces Magics 26 with new CAD and mesh capabilities for AM

    Category: Software
  • 18 May, 2022

    Stratasys introduces GrabCad Print software

    Category: Software
  • 17 May, 2022

    Siemens’ SynthAI revolutionizes machine vision training with AI

    Category: Software
  • 16 May, 2022

    Mastercam, Tata Technologies to now skill the workforce and youth of Assam

    Category: Software
  • 11 May, 2022

    Siemens to showcase latest IoT breakthroughs for accelerating digital transformation of industries

    Category: Software
  • 10 May, 2022

    New VIAS3D Cloud puts users in control of their Dassault 3DEXPERIENCE

    Category: Software
  • 09 May, 2022

    Hopium using 3DEXPERIENCE platform to design and develop hydrogen vehicles

    Category: Software

Showroom

  • 29 March, 2019

    Tool Presetter India

    Category: Software

TESTIMONIALS VIEW MORE

By Niraj M Wanikar, Chief Editor, CNCTimes.com, 2019-11-19 17:57:22We would like to express our sincere appreciation for your service to us.You have provided us best marketing platform through CNCTime...

Mr.Adil Atar, Ass.Mng.Technical Sales & Service: Precision Machinekraft

By Niraj M Wanikar, Chief Editor, CNCTimes.com, 2016-10-21 09:00:00Dedication and determination is key to success and CNC Times team is evident to it - FARO Business Technologies (I) Pvt Ltd

Ms. Amrita Gokhale , FARO Business Technologies

By Niraj M Wanikar, Chief Editor, CNCTimes.com, 2016-08-25 00:00:00Seminar was really very good, please let us know about future seminars. we would like to attend the seminar on "Machining of the mate...

Roshan Deshmukh, Design Engineer - Ashvini Magnets Private Limited

FOLLOW US

TECHNOLOGY FOCUS

    Machine Tools

    • CNC Lathe
    • Boring Machines
    • Drilling Machines
    • Spark Erosion
    • Wire Cut
    • Vertical Machining Centers - VMC
    • Horizontal Machining Centers - HMC
    • Grinding Machines
    • Gear Cutting Machines
    • Additive Manufacturing - RP
    • Multi-Axis Machines
    • Multi-Tasking Machines
    • Welding Machines
    • Presses
    • Laser Cutting
    • Others
    • IIoT

    Metrology

    • CMM
    • VMM ( Vision Measuring Machines )
    • PCMM ( Portable CMM )
    • Measuring Instruments
    • Probing Technology
    • 3D Scanners
    • Roundness Measurement
    • Surface Roughness Measurement
    • Contour Measuring Machines
    • Others

    Accessories

    • Workholding
    • Toolholders
    • Spindles
    • Coolants
    • Others

    Software

    • CAD
    • CAM
    • CAE
    • ERP
    • Inspection Software
    • Reverse Engineering Software
    • MES
    • Others

    Mechatronics

    • Robotics
    • Automation
    • CNC Controllers
    • Others

    Cutting Tools

    • Turning Tools
    • Milling Tools
    • Grinding Wheels
    • Drilling
    • Others

INDUSTRY VERTICALS

  • General
  • Automotive
  • Aerospace
  • Healthcare
  • Healthcare Engineering
  • FMCG
  • Consumer Durable
  • Defence
  • Electronics
  • Oil & Gas
  • Heritage
  • Heavy Engineering
  • Die & Mold
  • Plastic
  • Footwear
  • Jobshop

PROFILE

  • About us
  • Contact us

Terms of use

  • Privacy Policy
  • Payment Policy
  • Refund Policy
  • Terms and Conditions

Follow us on:

Download CNCTimes App:

Play Store
2022 © www.cnctimes.com  | Payment Policy   |   Terms and Conditions
Developed & Maintained by Deven Infotech