WALTHAM, Mass., October 28, 1999 -- Parametric Technology Corporation (NASDAQ: PMTC) today announced that it has received a $3 million software and services order from Computer Sciences Corporation, Inc. on behalf of General Dynamics Lands Systems (GDLS) of Sterling Heights, Mich. All software was shipped to the company during PTC's fourth fiscal quarter (ended September 30, 1999).
This order will enhance and expand Land Systems' existing implementation of Pro/ENGINEER and other PTC products, including PTC's next-generation Behavioral Modeling for product innovation and Pro/MECHANICA for advanced behavioral modeling studies. In addition, GDLS has selected PTC's DIVISION enterprise product visualization solution, Windchill Foundation and Windchill PDM to establish a Windchill pilot program, enabling collaborative product development and enterprise visualization.
GDLS is using PTC products, including Pro/ENGINEER, Pro/MECHANICA and CADDS 5, to support many of its programs.
Doug Field, Director of Information Resource Management, GDLS noted, "PTC has provided us with world-class software and support and established itself as a strategic business partner in the CAD/CAM/CAE arena."
John Staiger, GDLS Account Executive for Computer Science Corporation (CSC) added, "PTC has demonstrated that it understands the dynamics of today's evolving business environment and is providing software solutions that enable companies to remain competitive well into the next millennium."
About General Dynamics Land Systems
General Dynamics Land Systems is a wholly owned subsidiary of General Dynamics (NYSE: GD). General Dynamics, headquartered in Falls Church, Virginia, employs approximately 44,000 people worldwide and has annualized sales of approximately $10 billion. The company has leading market positions in Shipbuilding and Marine Systems, Land and Amphibious Combat Systems, Information Systems and Business Aviation.
About Windchill
Windchill brings product development to the web at Internet speed. Focused on all phases of a product's lifecycle - from concept and definition to production, service, maintenance and retirement - Windchill advances product and process lifecycle management through its unique web-based approach, tightly integrating suppliers and customers into the development process, increasing product innovation and speeding time-to-market for complex, customer-driven products.
About Pro/ENGINEER and the PTC i-Series
The PTC i-Series is a continuum of interoperable mechanical design automation solutions employed by PTC's more than 227,000 users worldwide for the design, engineering, manufacturing and support of products. The suite contains highly innovative capabilities with many patent-pending technologies, and each solution addresses a specific lifecycle product development area. All information is shared between these solutions using PTC's unique Associative Topology Bus, making sure changes are propagated and shared with all product development participants.
The Pro/ENGINEER design system, at the heart of the PTC i-Series, features PTC's new Behavioral Modeling technology which allows designers to innovate their products more rapidly and effectively. Pro/MECHANICA provides analysis, simulation and advanced behavioral modeling studies for the early verification of new designs. DIVISION provides engineering digital mockup and enterprise-wide product information visualization that allows companies to bring together distributed engineering teams. As well as Pro/ENGINEER, Pro/MECHANICA and DIVISION, the PTC i-Series also features Pro/DESKTOP, ICEM, CDRS, InPart, CADDS 5i and MEDUSA.
About PTC
Parametric Technology Corporation, founded in 1985 and headquartered in Waltham, Mass., develops, markets and supports integrated collaborative product commerce (CPC) solutions that help companies spur innovation and achieve sustained competitive advantage. PTC's software solutions are complemented by the strength and experience of its professional services organization, which provides training, consulting and support to customers around the globe. In its fiscal year ended September 30, 1999, the company achieved more than $1 billion in revenue. PTC can be reached at 781-398-5000, or via the web at http://www.ptc.com.
Except for the historical information contained herein, matters discussed in this news release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include PTC's ability to anticipate and adequately respond to evolving customer requirements and to deliver products and services in a timely manner that meet those requirements together with such other risks and uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the PTC's most recent reports on Form 10-K and 10-Q. The announcement of any particular sales order is not necessarily indicative of the timing of recognition of revenue from such order or the level of revenue for any particular period.
Parametric Technology Corporation, Pro/ENGINEER, Pro/MECHANICA, Windchill and CADDS are registered trademarks, and all names in the PTC product family as well as the PTC logo are trademarks of Parametric Technology Corporation, or its subsidiaries, in the United States and in other countries. All other companies and products referenced herein have trademarks or registered trademarks of their respective holders.