Parametric lowers fiscal 3rd-quarter revenue outlook slightly to reflect worsening euro
By APMonday, June 7, 2010
Parametric Technology lowers 3Q revenue outlook
NEEDHAM, Mass. — Parametric Technology Corp., a product design company, lowered its fiscal third-quarter and full-year revenue forecast Monday to account for the effect of currency fluctuations.
The company now expects revenue of $230 million to $240 million for the current quarter. In April, it had forecast revenue of $235 million to $245 million.
It still expects adjusted earnings of 14 cents to 20 cents per share.
Analysts, on average, are expecting a profit of 19 cents per share on revenue of $240.7 million, according to a poll by Thomson Reuters.
For the full year, the company expects revenue of $1 billion, earnings of 50 cents per share and adjusted earnings of $1 per share. Its previous guidance was for revenue of close to $1.02 billion. Its earnings forecast did not change.
Parametric Technology serves companies in the industrial, high tech, aerospace and defense industries, among others. Shares rose 21 cents to $15.88 in afternoon trading.
