(3) Reflects the tax effects of non-GAAP adjustments for the second
quarter and first six months of 2010 and 2009, which are calculated by
applying the applicable tax rate by jurisdiction to the non-GAAP
adjustments listed above, as well as the effect of a $7.6 million
one-time tax benefit recorded in the second quarter of 2009 due to the
recognition of deferred tax assets in a foreign jurisdiction.
|
PARAMETRIC TECHNOLOGY CORPORATION
|
|
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
|
|
(in thousands)
|
|
|
|
|
|
|
April 3,
|
|
|
September 30,
|
|
|
|
|
2010
|
|
|
2009
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
222,692
|
|
$
|
235,122
|
|
Accounts receivable, net
|
|
|
151,117
|
|
|
166,591
|
|
Property and equipment, net
|
|
|
61,935
|
|
|
58,105
|
|
Goodwill and acquired intangibles, net
|
|
|
559,439
|
|
|
596,517
|
|
Other assets
|
|
|
316,642
|
|
|
293,877
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
1,311,825
|
|
$
|
1,350,212
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred revenue
|
|
$
|
268,899
|
|
$
|
234,270
|
|
Borrowings under revolving credit facility
|
|
|
33,528
|
|
|
57,880
|
|
Other liabilities
|
|
|
267,639
|
|
|
296,481
|
|
Stockholders' equity
|
|
|
741,759
|
|
|
761,581
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders' equity
|
|
$
|
1,311,825
|
|
$
|
1,350,212
|
|
PARAMETRIC TECHNOLOGY CORPORATION
|
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
April 3,
|
|
|
|
April 4,
|
|
|
|
April 3,
|
|
|
|
April 4,
|
|
|
|
|
|
2010
|
|
|
|
2009
|
|
|
|
2010
|
|
|
|
2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
9,002
|
|
|
$
|
7,175
|
|
|
$
|
26,865
|
|
|
$
|
11,834
|
|
|
Stock-based compensation
|
|
|
12,292
|
|
|
|
6,730
|
|
|
|
26,147
|
|
|
|
17,261
|
|
|
Depreciation and amortization
|
|
|
15,976
|
|
|
|
15,162
|
|
|
|
31,899
|
|
|
|
29,957
|
|
|
Accounts receivable
|
|
|
4,550
|
|
|
|
53,576
|
|
|
|
8,761
|
|
|
|
77,015
|
|
|
Accounts payable and accruals (4)
|
|
|
2,343
|
|
|
|
(4,916
|
)
|
|
|
(12,733
|
)
|
|
|
(30,949
|
)
|
|
Deferred revenue
|
|
|
32,440
|
|
|
|
15,589
|
|
|
|
16,453
|
|
|
|
6,859
|
|
|
Income taxes
|
|
|
(3,693
|
)
|
|
|
(23,600
|
)
|
|
|
(6,498
|
)
|
|
|
(34,787
|
)
|
|
Other
|
|
|
(4,962
|
)
|
|
|
4,510
|
|
|
|
(186
|
)
|
|
|
11,460
|
|
|
Net cash provided by operating activities
|
|
|
67,948
|
|
|
|
74,226
|
|
|
|
90,708
|
|
|
|
88,650
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(9,225
|
)
|
|
|
(7,094
|
)
|
|
|
(17,102
|
)
|
|
|
(15,266
|
)
|
|
Acquisitions of businesses, net of cash acquired
|
|
|
(1,505
|
)
|
|
|
(113
|
)
|
|
|
(2,087
|
)
|
|
|
(8,475
|
)
|
|
Proceeds from (payments on) debt, net
|
|
|
(19,720
|
)
|
|
|
(18,686
|
)
|
|
|
(19,720
|
)
|
|
|
(31,951
|
)
|
|
Repurchases of common stock
|
|
|
(40,000
|
)
|
|
|
--
|
|
|
|
(45,072
|
)
|
|
|
(9,581
|
)
|
|
Other investing and financing activities (5)
|
|
|
(1,460
|
)
|
|
|
(1,919
|
)
|
|
|
(12,901
|
)
|
|
|
(2,410
|
)
|
|
Foreign exchange impact on cash
|
|
|
(4,490
|
)
|
|
|
(5,629
|
)
|
|
|
(6,256
|
)
|
|
|
(10,190
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
(8,452
|
)
|
|
|
40,785
|
|
|
|
(12,430
|
)
|
|
|
10,777
|
|
|
Cash and cash equivalents, beginning of period
|
|
|
231,144
|
|
|
|
226,933
|
|
|
|
235,122
|
|
|
|
256,941
|
|
|
Cash and cash equivalents, end of period
|
|
$
|
222,692
|
|
|
$
|
267,718
|
|
|
$
|
222,692
|
|
|
$
|
267,718
|
|
