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Parametric Technology Dips on Lowered Revenue Guidance

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Parametric Technology

(PMTC)

was falling in the premarket after lowering its first-quarter revenue guidance to $200 million.

The Needham, Mass.-based manufacturing software maker said it still expects to earn a pro forma 3 cents a share in the period, in line with analysts' forecasts. According to First Call, analysts were expecting the company to post first-quarter revenue of $209.4 million.

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The company said weakness continued in the manufacturing sector during the quarter, but said cost controls allowed it to preserve earnings. The company said its sales opportunities are improving.

On Instinet, Parametric's shares were recently down 6% to $7.35.