PTC: Execution Begins at Home
PTC announced its third quarter (fiscal 2007) results today with commentary that majored on missteps yet glossed over much. As 3D CAD News reported earlier this month, PTC reported an oopsie on its earnings forecast which sent its stock tumbling. Today, we are told, sales shortfalls in North America and Japan were mostly to blame. Well, yes, they should blame somebody outside the organization. Heaven forbid there might have been mistakes made internally that led to the shortfall. We recall the overly aggressive PTC of old and shudder to think those days may be back.
Buried deep in the announcement was the news that 200 people are no longer PTC employees as of today. Not one of them, we must infer from the comments of PTC executives, were responsible for the revenue shortfall. We suggest they picket the US Department of Commerce or the Japanese consulate in Boston if they seek redress, since there certainly must be no one to blame at PTC HQ in Needham, Mass.
Look for a full analysis of PTC’s third-quarter results tomorrow in CADCAMNet, including an explanation of how not to pay one’s corporate taxes.
It was a busy day at PTC Headquarters, as 200 brave souls gave the ultimate sacrifice for their shareholders.
