This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Parametric Tech Cuts Revenue Outlook

Manufacturing-software developer Parametric Tech (PMTC) warned Thursday that revenue for the third quarter would come in below its previous guidance.

The stock plunged $4.07, or 18.9%, to $17.50 in recent after-hours trading.

Revenue will be approximately $225 million, well short of previous expectations for revenue in the $235 million-to-$240 million range. Earnings will also be affected, according to the Needham, Mass., company.

Analysts were expecting revenue of $238 million and per-share earnings, excluding items, of 28 cents for the quarter, according to Thomson Financial.

Lower-than-expected license revenue of $62 million was the primary cause, Parametric said.

"Though third quarter total revenue grew approximately 4% year over year ... our license revenue fell short of our forecast in North America and Japan," said CEO and president C. Richard Harrison in a statement.

The company has already begun reducing costs, he stated. The company also expects to lower fourth-quarter guidance when it makes its full earnings announcement on July 25.

Analysts were expecting fourth-quarter revenue of $263 million.

In June, CFO Neil Moses had said full-year revenue was expected to be $950 million, suggesting a fourth-quarter revenue expectation of at least $260 million.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
PMTC $0.00 0.00%
AAPL $128.99 -0.29%
FB $80.16 0.70%
GOOG $570.80 -0.50%
TSLA $198.81 -0.38%


DOW 18,066.02 -137.35 -0.75%
S&P 500 2,090.17 -17.61 -0.84%
NASDAQ 4,947.5960 -32.3050 -0.65%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs