By Robert Barba
PTC Inc. /zigman2/quotes/202034776/composite PTC +2.21% swung to a loss in its fiscal second quarter as expenses increased.
The packaged software firm reported two sets of numbers to reflect the adoption of an accounting change. Under the new standard, the company had a loss of 37 cents a share, an adjusted profit of 22 cents a share and revenue of $290 million in the three months ended March 30.
Under the former standard, the company had a loss of 10 cents a share, adjusted earnings of 38 cents a share and revenue of $315 million. Those figures compare with earnings of 7 cents a share and revenue of $308 million a year earlier.
Analysts polled by FactSet, which uses the former accounting standard, expected a loss of 5 cents a share, adjusted earnings of 35 cents a share and revenue of $312 million.
Expenses totaled $233 million under the new standard, $239 million under the old standard and were $202 million a year earlier.
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