PMTC posts Mar-Q EPS of $0.08 vs. $0.06, matches our estimate. Total revenues grew 6.8% to $240M, $3M above our forecast, driven by 54% growth in software license revenues. The company signed two large deals in the quarter. Although we think PMTC is gaining market share in the product lifecycle management sector, we see lackluster growth in the CAD/CAM market. We are also concerned about weakness in Europe and see possible headwinds from foreign currency exchange. We lower our FY 10 (Sep.) EPS estimate by $0.05 to $0.48 on reduced revenues, but keep our target price at $16.