<SEC-DOCUMENT>0000857005-20-000011.txt : 20200407
<SEC-HEADER>0000857005-20-000011.hdr.sgml : 20200407
<ACCEPTANCE-DATETIME>20200310114313
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000857005-20-000011
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200310

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PTC INC.
		CENTRAL INDEX KEY:			0000857005
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				042866152
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		121 SEAPORT BOULEVARD
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		7813705000

	MAIL ADDRESS:	
		STREET 1:		121 SEAPORT BOULEVARD
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARAMETRIC TECHNOLOGY CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div><a name="sFE06E85327FDE91B8B61C4F3038B4457"></a></div><div><div style="line-height:120%;text-align:left;"><img src="commentletterresponse_image1.jpg" alt="commentletterresponse_image1.jpg" style="height:44px;width:114px;"></div></div><div><br></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">March 10, 2020</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;text-decoration:underline;">By EDGAR</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Securities and Exchange Commission</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Division of Corporate Finance</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">100 F Street, N.E.</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Washington, DC  20549</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Attention:     Frank Knapp and Melissa Kindelan</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Re:  &#160;&#160;&#160;&#160;PTC Inc. (the Company)</font></div><div style="line-height:130%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Form 10-K for Fiscal Year Ended September 30, 2019</font></div><div style="line-height:130%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Filed November 18, 2019</font></div><div style="line-height:130%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Form 10-Q for Fiscal Quarter Ended December 28, 2019</font></div><div style="line-height:130%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Filed January 27, 2020</font></div><div style="line-height:130%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">File No. 000-18059 </font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Ladies and Gentlemen:</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">This letter is submitted in response to your letter dated February 25, 2020 setting forth the comments of the staff of the Securities and Exchange Commission (the &#8220;Staff&#8221;) regarding PTC Inc.&#8217;s Form 10-K for Fiscal Year Ended September 30, 2019 and Form 10-Q for Fiscal Quarter Ended December 28, 2019.  Please find our response to the Staff&#8217;s comment below.  For your convenience, the comment in the letter is restated below, followed by our response.   &#160;&#160;&#160;&#160;</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;text-decoration:underline;">Form 10-Q for Fiscal Quarter Ended December 28, 2019</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations Non-GAAP Financial Measure, page 34</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:0px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:130%;font-size:11pt;padding-left:0px;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">1. </font></div></td><td style="vertical-align:top;padding-left:48px;"><div style="line-height:130%;text-align:left;font-size:11pt;text-indent:-48px;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">We note your Adjusted Free Cash Flow measure excludes charges that required cash settlement.  Such charges cannot be excluded from non-GAAP liquidity measures per Item 10(e)(1)(ii)(A) of Regulation S-K.  Please remove this measure or explain how it complies.  </font></div></td></tr></table><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;"><img src="commentletterresponse_image1.jpg" alt="commentletterresponse_image1.jpg" style="height:44px;width:114px;"></div></div><div><br></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:0px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:0px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">Response:</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:0px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:0px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;"></font><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">The Company acknowledges the Staff&#8217;s comment and will not include the Adjusted Free Cash Flow measure in our future SEC filings.  </font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">If you have any questions, please do not hesitate to contact me at (781) 370-5005 or ktalvitie@ptc.com.</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Very truly yours, </font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">PTC Inc.</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">/s/ Kristian Talvitie</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Kristian Talvitie</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:-48px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">Chief Financial Officer</font></div><div style="line-height:130%;text-align:left;padding-left:48px;text-indent:312px;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Century Gothic,sans-serif;font-size:11pt;font-weight:bold;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:130%;text-align:left;font-size:11pt;"><font style="font-family:Century Gothic,sans-serif;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div></div>	</div></body>
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