Parametric Tech 4Q earnings above estimates; to acquire CoCreate Software |
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Wed, 31 Oct 2007 13:17
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NEW YORK (Thomson Financial) - Parametric Technology Corp. Wednesday said fourth-quarter adjusted earnings were $44.5 million, or 38 cents a share, surpassing the mean estimate of analysts polled by Thomson Financial for fourth-quarter earnings of 26 cents a share.The company also said it entered into a definitive agreement to acquire CoCreate Software GmbH for $250 million.Fourth-quarter revenue rose 9% to $266.7 million from the same period a year earlier and was above analyst estimates of revenue of $246 million in the quarter.The company said it expects first-quarter adjusted earnings of 20 cents to 25 cents a share on revenue of $230 million to $240 million.Analysts expect first-quarter earnings of 23 cents a share on revenue of $237 million.Parametric said it expects the acquisition, with an anticipated close in December, to boost earnings and operating margins in the second quarter of 2008, and be dilutive to earnings per share in 2008 but accretive thereafter.Shares of the Needham, Mass.-based product lifestyle management software company closed Tuesday at $17.72.Melinda Peermp/jwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Parametric Tech. 4Q profits top estimates; to acquire CoCreate for $250M 