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PTC Inc.: Fiscal 1Q Earnings Snapshot

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BOSTON (AP) _ PTC Inc. (PTC) on Wednesday reported fiscal first-quarter net income of $23.5 million.

The Boston-based company said it had net income of 20 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 97 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The product development software maker posted revenue of $429.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $383.1 million.

PTC Inc. expects full-year earnings in the range of $3.05 to $3.25 per share, with revenue in the range of $1.69 billion to $1.73 billion.

PTC Inc. shares have climbed 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $120.83, a rise of 44% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PTC at https://www.zacks.com/ap/PTC