Parametric earnings beat expectations
Product-development software maker Parametric Technology Corp. said today its fiscal first-quarter profit declined, hurt by a restructuring charge and other items, but adjusted earnings surpassed Wall Street's expectations.
For the quarter ended Dec. 29, the Needham company earned $9.9 million, or 8 cents per share, down 35 percent from $15.2 million, or 13 cents per share, in the same period a year earlier.
Excluding restructuring charges, stock-option costs and other items, the company earned $31.1 million, or 26 cents per share, in the latest quarter.
Revenue rose 9 percent to $241.2 million from $221.7 million.
Analysts, on average, were expecting a profit of 23 cents per share on sales of $240.8 million, according to a poll by Thomson Financial.
The company said its acquisition of CoCreate Software GmbH helped boost the quarter's margins. Revenue grew 23 percent in Europe and declined 2 percent in North America.
Parametric's products include design, manufacturing and engineering software.
Shares rose 58 cents, or 4.1 percent, to $14.65 in premarket electronic trading. Parametric shares trade on the Nasdaq Stock Market. (AP)
