PTC Announces Record Q4 and Full Fiscal 2008 Revenue

When: Wednesday, October 29, 2008 at 8:30 a.m. Eastern Time

Dial-in: 1-888-566-8560 or 1-517-623-4768

Call Leader: Richard Harrison

Passcode: PTC

Webcast: http://www.ptc.com/for/investors.htm

Replay: The audio replay of this event will be archived for public replay until 4:00 pm on November 3, 2008 at 1-800-947-6592 or 1-402-220-4606. To access the replay via webcast, please visit http://www.ptc.com/for/investors.htm.

Important Information About Non-GAAP References

PTC provides non-GAAP supplemental information to its financial results. Non-GAAP revenue excludes the effect of purchase accounting on the fair value of the acquired deferred maintenance revenue balance of CoCreate Software GmbH. Non-GAAP operating margin and EPS also exclude, as applicable, stock-based compensation expense, amortization of acquired intangible assets, acquired in-process research and development expenses, restructuring expenses, non-cash effects of liquidating subsidiaries and the related tax effects of the preceding items and any one-time tax items, such as valuation allowance reversals. PTC provides this non-GAAP information to facilitate period-to-period comparisons of its operational performance by adjusting for certain non-cash and certain episodic expenses. We believe that providing non-GAAP measures affords investors a view of our operating results that may be more easily compared to peer companies. PTC management also uses this and other non-GAAP financial information to evaluate, manage and plan our business because the information provides additional insight into ongoing financial performance. In addition, compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. However, non-GAAP information should not be construed as an alternative to GAAP information as the items excluded from the non-GAAP measures often have a material impact on PTCs financial results. Therefore, management uses, and investors should use, non-GAAP measures in conjunction with our reported GAAP results. Please refer to the attached tables for a reconciliation between GAAP results and the non-GAAP supplemental information.

About PTC

PTC (Nasdaq: PMTC - News) provides leading product lifecycle management (PLM), content management and dynamic publishing solutions to more than 50,000 companies worldwide. PTC customers include the world's most innovative companies in manufacturing, publishing, services, government and life sciences industries. PTC is included in the S&P Midcap 400 and Russell 2000 indices. For more information on PTC, please visit http://www.ptc.com.

Statements in this news release that are not historical facts, including statements about our confidence that we will achieve our fiscal 2009 financial targets, our expected revenue growth rates, anticipated tax rates, projected revenue and earnings and the impact of our planned strategic investments on our future success, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the possibility that our customers may not continue to spend at recent levels or may elect to defer or forego investment in our solutions in the current economic climate and the possibility that we will experience a shortfall in revenue that causes us to decrease or eliminate planned strategic investments in our business. In addition, our assumptions concerning our future GAAP and non-GAAP effective income tax rates are based on estimates and other factors that could change, including geographic mix of our revenue and profits and loans and cash repatriations from foreign subsidiaries. Other risks and uncertainties that could cause actual results to differ materially from those projected are detailed from time to time in reports we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.

PTC, The Product Development Company, and all other PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and in other countries. All other companies referenced herein are trademarks or registered trademarks of their respective holders.

PARAMETRIC TECHNOLOGY CORPORATION

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended Year Ended
September 30, September 30, September 30, September 30,
2008 2007 2008 2007
Revenue:
License $ 98,533 $ 96,103 $ 316,191 $ 296,125
Service 201,014 170,549 754,139 645,154
Total revenue 299,547 266,652 1,070,330 941,279
Costs and expenses:
Cost of license revenue (1) 9,149 4,228 29,255 16,083
Cost of service revenue (1) 79,637 69,872 301,531 274,727
Sales and marketing (1) 83,731 76,521 306,880 292,215
Research and development (1) 47,366 44,416 182,022 162,351
General and administrative (1) 23,176 23,288 87,829 79,777
Amortization of acquired intangible assets 4,327 2,027 15,579 7,467
In-process research and development -- -- 1,887 544
Restructuring charges 4,735 15,347 20,102 15,347
Total costs and expenses 252,121 235,699 945,085 848,511
Operating income 47,426 30,953 125,245 92,768
Other income (expense), net (500 ) 2,496 (6,359 ) 6,892
Income before income taxes 46,926 33,449 118,886 99,660
Provision for (benefit from) income taxes 10,422 2,810 39,184 (43,996 )
Net income $ 36,504 $ 30,639 $ 79,702 $ 143,656
Earnings per share:
Basic $ 0.32 $ 0.27 $ 0.70 $ 1.27
Weighted average shares outstanding 113,829 113,104 113,703 112,734
Diluted $ 0.31 $ 0.26 $ 0.68 $ 1.22
Weighted average shares outstanding 118,780 117,702 117,870 117,494

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