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Parametric lowers 2nd-qtr outlook
April 5, 2012 / 10:25 AM / 5 years ago

Parametric lowers 2nd-qtr outlook

April 5 (Reuters) - Parametric Technology Corp, which makes product-design software, lowered its second-quarter expectations after failing to close a large contract in Europe.

“Our second quarter license revenue was impacted by a large transaction in Europe that did not close and lower than expected performance in North America,” Chief Executive James Heppelmann said in a statement.

The company now expects a profit of 26 cents to 28 cents a share, excluding one-time items. It expects an adjusted revenue of $300 million.

In January, it had forecast an adjusted profit of 32 cents to 36 cents a share and a revenue of $305 million to $320 million.

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