NEEDHAM, Mass. — (BUSINESS WIRE) — October 1, 2014 — PTC (Nasdaq: PTC) today announced that preliminary revenue for the fourth fiscal quarter ended September 30, 2014 is expected to be at or above the high end of the company's guidance of $340 million to $355 million, before considering the acquisition of Axeda, which closed August 11. The company expects Axeda to contribute approximately $4 million to $5 million in revenue for Q4. There was no significant impact to Q4 results compared to guidance from currency fluctuations.

On September 25, 2014, in support of integrating businesses acquired in the past year and the continued evolution of PTC’s business model, PTC committed to a plan to restructure its workforce. The restructuring is expected to result in a restructuring charge of approximately $34 million, all of which is attributable to termination benefits. The restructuring charge will be recorded primarily in PTC’s fourth quarter ended September 30, 2014 and will primarily be paid in PTC’s 2015 fiscal year. PTC expects that the annualized effect of the expense reductions will be approximately $31 million, which already was contemplated in PTC’s preliminary financial commentary for fiscal 2015 provided August 4.

Q4 Earnings Conference Call and Webcast
PTC will release its fiscal 2014 fourth quarter results on Wednesday, November 5 after the stock market closes. Senior management will host a live webcast and conference call to review the results on Thursday, November 6 at 8:30am Eastern Time. The earnings press release and accompanying prepared remarks will be accessible prior to the conference call and webcast on the Investor Relations section of the Company's website at www.ptc.com.