Parametric Tech Blows Away Estimates

The acquisition brings Parametric 4,000 new electronics accounts, primarily in Europe and Japan, CEO Richard Harrison said on a conference call.

The Needham, Mass.-based company also expects to restate financials for 2001 to 2006 due to transactions with client Toshiba that "appear to have been related to an allegedly fraudulent scheme conducted by a Toshiba employee," Parametric said in a statement. The restatement is expected to reduce fiscal 2006 revenue by $8 million.