UPDATE 1-Parametric Q1 handily beats Street, ups 2010 view

* Q1 adj EPS $0.27 vs est $0.17


* Q1 total revenue up 8 pct, license revenue up 48 pct

* Raises 2010 outlook

* Shares rise 9 pct after the bell

Jan 26 (Reuters) – Business-software maker Parametric Technology Corp (PMTC.O) posted quarterly results that blew past estimates, driven by large product lifecycle management contracts in North America, and raised its full-year outlook.

For the first quarter ended Jan. 2, the company, which makes software that helps manufacturers design new products, posted a profit of $17.9 million, or 15 cents a share, compared with $4.7 million, or 4 cents a share, a year ago.

Excluding items, it earned 27 cents a share.

Analysts on average were expecting a profit of 17 cents a share, before items, according to Thomson Reuters I/B/E/S.

Total revenue rose 8 percent to $258.4 million, beating analysts’ expectations of $233.2 million.

For 2010, Parametric now expects to earn $1.00 a share on revenue of $1.02 billion, compared with its prior outlook of a profit of 96 cents a share and $980 million in sales. [ID:nWNAB8594]

Shares of the Needham, Massachusetts-based company rose 9 percent to $17.12 in trading after the bell. They closed at $15.73 Tuesday on Nasdaq. (Reporting by Sayantani Ghosh in Bangalore; Editing by Anne Pallivathuckal)

Source: Reuters

Tags: ,

No comments yet.

Leave a Reply