The FY’15 guidance adjusts for the impact of the following items and their income tax effects, as well as any additional discrete tax items or restructuring costs: approximately $4 million for the effect of acquisition accounting on the fair value of acquired deferred revenue; approximately $57 million of stock-based compensation expense; approximately $55 million of intangible asset amortization expense; and approximately $9 million of other charges, net (primarily acquisition-related and pension plan termination related expenses).

The Q1 guidance adjusts for the impact of the following items and their income tax effects, as well as any additional discrete tax items or restructuring costs: approximately $2 million of the effect of acquisition accounting on the fair value of acquired deferred revenue; approximately $14 million of stock-based compensation expense; approximately $14 million of intangible asset amortization expense; and approximately $3 million of other charges, net (primarily acquisition-related and pension plan termination related expenses).

FY’15 non-GAAP guidance also excludes settlement losses related to the termination of our U.S. pension plan. While we expect to complete the termination process by September 30, 2015, the amount of the losses and timing of the charge is subject to the timing of regulatory approvals and the projected benefit obligations and assets in the plan measured as of the dates the settlements occur. We currently estimate the pre-tax settlement losses to be approximately $65 million.

Upcoming Investor Day Event

On November 13, we will host our FY’15 investor day event at the NASDAQ MarketSite in New York City. Investors will have the opportunity to hear from many of PTC’s key business leaders, who will provide additional insight into our future vision, corporate strategy and go-to-market approach, as well as a deeper look at our long-term financial targets and objectives.

Q4 and FY’14 Earnings Conference Call and Webcast

Prepared remarks for the conference call have been posted to the investor relations section of our website. The prepared remarks will not be read live; the call will be primarily Q&A.

What:			PTC Fiscal Q4’14 Conference Call and Webcast
When:			Thursday, November 6th, 2014 at 8:30am (ET)
Dial-in:			1-800-857-5592 or 1-773-799-3757 Call Leader: James Heppelmann Passcode: PTC
Webcast:			www.ptc.com/for/investors.htm
Replay:			The audio replay of this event will be archived for public replay until 5:00 pm (CT) on November 16 th , 2014. Dial-in: 866-373-9228 Passcode: 8132 To access the replay via webcast, please visit www.ptc.com/for/investors.htm .

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