Product lifecycle management software vendor PTC has reported a 62% decline in net income to $7.17m for the second quarter 2009, compared to net income of $18.84m in the year-ago quarter, on revenue down 13% at $225.29m.
It made an operating loss of $1.42m compared to operating profit of $31.03m in the same period last year. Diluted EPS was $0.06 compared to $0.16 in the year-ago quarter. The company said license revenue fell 46% to $42.07m, and services revenue grew 2% to $183.22m.
For the six-month period, the company reported a 59% decline in net income to $11.83m compared to $28.72m a year ago, on revenue down 7% at $499.03m.
Neil Moses, CFO at PTC, said: Our Q2 operating margins and EPS were stronger than expected primarily due to revised bonus plans, earlier than anticipated execution on the restructuring activities we acted on during the quarter, as well as some favorable impact from currency movements.
Looking ahead to the third quarter the company expects revenue between $220m and $230m and non-GAAP EPS between $0.12 and $0.18. For fiscal 2009 it expects revenue to be approximately $940m and non-GAAP EPS of approximately $0.80.