PTC sees preliminary Q4 bookings at $139M-$143M, above previous view
PTC announced that preliminary bookings for the fourth fiscal quarter ended September 30, 2016 are expected to be between $139 million and $142 million, above the high end of the company's previous guidance of $111 million to $121 million. There are two mega deals in the quarter, including a competitive PLM displacement within one of the top Tier 1 global automotive suppliers, and a worldwide cloud implementation of PTC's service parts management solution - both a testament to PTC's leading technology position in these markets. "PTC also now expects its Q4'16 bookings subscription mix to be approximately 70%, significantly exceeding its prior guidance of 46%. Due primarily to the higher than expected subscription mix, and also the incremental commission expense associated with bookings and subscription outperformance, we expect GAAP and non-GAAP revenue, and GAAP and non-GAAP EPS to be below the low end of our prior guidance. In addition, in support of continued realignment of resources toward higher growth opportunities and driving long-term margin expansion, PTC now expects FY'16 restructuring charges of approximately $75 to $80 million, above the $50 million to $70 million range included in the company's Q3'16 form 10-Q filed on August 11, 2016, and the $40 million to $50 million range included in our Q4'16 guidance on July 20, 2016."