Parametric Technology Shares Soared: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Parametric Technology (NAS: PMTC) have soared today, up by as much as 20% after the company reported strong first-quarter results.
So what: Revenue in the quarter jumped 20% to $319.8 million, which turned into $0.35 earnings per share by the time you get to the bottom line. Both results handily bested consensus estimates, which were looking for $313.6 million up top and $0.31 per share down below.
Now what: CEO James Heppelmann said PTC was off to a good start with the year, as revenue sits at the high end of the company's own guidance, while earnings per share exceeded its expectations. It gets better, as full-year 2012 is expected to bring in $1.31 billion to $1.33 billion in revenue, along with profit of $1.58 to $1.62 per share. That revenue guidance is mostly in line, but the profit view tops consensus estimates.
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