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A weak economy for manufacturers is crimping Parametric's revenue.
Parametric Technology Corp. is warning investors that its revenue for the second quarter, ending March 30, will be 5% to 10% below market expectations of $208 million.
A company statement, issued Wednesday, said pro-forma earnings per share for the quarter will range from break even to a small loss. C. Richard Harrison, PTC's president and CEO, blamed the weak economy for the revenue shortfall. Harrison says sales continue to be weak for manufacturing companies, PTC's primary customer base, and customers are delaying and reducing software spending. PTC expects to announce final results for the second quarter April 16.
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