PTC Announces Third Quarter FY’16 Results

(4) In the third quarter of 2016, we began a fixed income investment plan for a portion of our offshore cash. In connection with the plan, we invested $50 million in investment grade securities with a weighted average maturity of less than 18 months.

             
PTC Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
 
Three Months Ended Nine Months Ended
July 2, July 4, July 2, July 4,
2016 2015 2016 2015
 
Cash flows from operating activities:
Net income (loss) $ 3,073 $ 17,435 $ (25,992 ) $ 53,111
Stock-based compensation 13,796 14,071 51,821 38,135
Depreciation and amortization 21,817 21,250 64,721 63,455
Accounts receivable (5,118 ) 22,195 58,499 44,906
Accounts payable and accruals 7,831 7,169 (9,861 ) (10,029 )
Deferred revenue 20,573 19,193 44,592 51,393
Income taxes (8,644 ) (9,043 ) (17,470 ) (25,608 )
Excess tax benefits from stock-based awards (38 ) 234 (94 ) 71
Other   6,167     (5,665 )   3,380     (22,971 )
Net cash provided by operating activities (5) 59,457 86,839 169,596 192,463
 
Capital expenditures (7,766 ) (6,530 ) (16,632 ) (20,637 )
Acquisitions of businesses, net of cash acquired (6) - (98,591 ) (164,191 ) (98,411 )
Proceeds (payments) on debt, net (60,000 ) 93,750 110,000 12,500
Proceeds from issuance of common stock 18 32 19 38
Payments of withholding taxes in connection with
vesting of stock-based awards (5,165 ) (7,253 ) (20,636 ) (29,117 )
Repurchases of common stock - (49,962 ) - (49,962 )
Excess tax benefits from stock-based awards 38 (234 ) 94 (71 )
Purchase of investments (44,605 ) (10,000 ) (44,605 ) (11,000 )
Contingent consideration (9,371 ) - (10,621 ) -
Other financing & investing activities (5,709 ) - (6,759 ) -
Foreign exchange impact on cash   (727 )   (806 )   4,944     (14,397 )
 
Net change in cash and cash equivalents (73,830 ) 7,245 21,209 (18,594 )
Cash and cash equivalents, beginning of period   368,456     267,815     273,417     293,654  
Cash and cash equivalents, end of period $ 294,626   $ 275,060   $ 294,626   $ 275,060  

 


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