(January 26, 2012) Shares of Parametric Technology (NASDAQ: PMTC), a Needham, Massachusetts-based company, soared in trading on Thursday. The Parametric Technology stock ended the day 18.87% higher at $25.64 on above average volume of 6.97 million.
Parametric shares surged in trading on Thursday after the company announced its first-quarter financial results. For the quarter ended December 31, 2011, Parametric reported non-GAAP revenue of $319.8 million, representing an increase of 20% over the same period in the previous year. The company’s GAAP revenue for the quarter was $318.3 million.
Parametric reported non-GAAP earnings per share for the quarter were $0.35, while its GAAP earnings per share for the quarter were $0.18. For the second quarter, Parametric expects non-GAAP revenue to come in between $305 million and $320 million and non-GAAP earnings per share to come in between $0.32 and $0.36.
James Heppelmann, President and CEO of Parametric, said that the company had a good start to FY 12, with first-quarter non-GAAP revenue at the high end of the company’s guidance range and non-GAAP earnings per share beating high end of guidance range. Heppelmann noted that the company’s license revenue of $89.1 million was up 18% on a year-over-year basis, driven by organic growth of 12%.
About Parametric Technology: Parametric Technology is a developer and marketer of product lifecycle management software solutions and related services.
- The Parametric Technology stock has a 52-week range of $14.25-$26.48.
- The stock trades on a daily average volume of 1.10 million.
- The stock is currently trading above its 50-day and 200-day moving averages, which is a bullish signal.
- The stock’s MACD has crossed the signal line on the upside and is also above the zero-line, which are strong bullish signals.
Parametric Technology announced its first-quarter financial results. The company’s shares soared following the announcement.