PTC warns its earnings will disappoint

SeongJoon Cho/Bloomberg News
PTC’s target markets include the defense and aerospace industry.

Parametric Technology Corp. plunged 21 percent, the most since April 2000. The Needham company, a maker of industrial software known as PTC, reported that its quarterly adjusted earnings would be 28 cents a share, at most. The average analyst estimate was for 34 cents a share, data compiled by Bloomberg show. PTC’s website says it delivers Product Lifecycle Management solutions to 25,000 customers in the industrial, high technology, aerospace and defense, automotive, consumer, and medical device sectors.