Hot off the presses from PTC:
Basically, PTC says that FQ4 revenue will be at or above the high end of earlier guidance ($340 million to $355 million), and that Axeda will add another $4 million to $5 million in revenue on top of that.
Even so, the company last week decided to restructure its workforce, “in support of integrating businesses acquired in the past year”. This includes terminating a bunch of people, to a sum of “$34 million … all of which is attributable to termination benefits”.
We’ll learn more on November 5, when PTC publishes Q4 earnings or on the 6th, when it hosts its earnings call.
It’s a definite case of no news/good news/bad news. No news is when you make your forecast; good news is when you’re at the high end. But bad news is when people lose their jobs — even if it is in the cause of growing the company in new directions.