BANGALORE, Inflatable Swimming Pool April 27 (Reuters) - Design-software maker Parametric Technology Corp (PMTC.O) posted modestly better-than-expected quarterly profit, but missed revenue expectations, hurt by currency fluctuations and slightly lower services revenue.
Shares of the company fell 5 percent in after market trade.
License and maintenance revenue performance was partly offset by a decline in services revenue as Parametric continues to work through the impact of soft license sales in 2009, CFO Neil Moses said in a statement.
The company, which makes software that helps manufacturers design new products, reaffirmed its full-year outlook. However, it said currency fluctuations, which would hurt revenue by about $18 million in 2010, would make achieving its full-year targets more challenging.
It raised its license revenue growth target to 35 percent to 40 percent, up from its previous view of 30 percent growth.
The company expects better revenue growth from its services and maintenance business in the back half of the year, COO Jim Heppelmann told Reuters.
The revenue curve for service and maintenance generally follows the revenue curve for license by about a year.
"I'm optimistic that next year we will be posting decent growth numbers for both of those businesses -- services especially could spring back in a more aggressive way in fiscal 2011," he said.
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