1、P T C A N N U A L R E P O R T 2 00 2There is a deep clarity and sense of purpose when the way is known.When the path is obscured and uncertain,a trusted guide helps select the one right way from among the many.When the way is clearly defined,it is possible to proceed boldly andwith confidence.When t
2、he way is known and directed by powerful belief,anything is possible.Leading companies have discovered a new way to create winning products.Its called Product First ,and its changing forever the way we do business.Product First is built on the idea that great products make great companies.That when
3、the mission of building and sustaining great products is at the core of everything companies do,significant value will be created.Product First places product at the center of a business strategy,creating a flexible framework for leveraging other business imperatives,such as building cus-tomer relat
4、ionships,optimizing the supply chain,and allocating resources.In short,Product First fuels the desire great companies have to create some-thing new.Something better than what existed before.Empowering that basic human drive and providing the ability to achieve it thats what we mean by Product First.
5、SERVICESOURCEMAKESELLDESIGNPLANA Solid FoundationTo accomplish our goals,we are capitalizing on our assets.We are a global company with an extensive infrastructure:people,technologies,and information capital.We have 16 years of product development domain expertise.We have a large cus-tomer base with
6、 significant recurring maintenance revenue streams.We have a strong balance sheet with a solid cash posi-tion and no long-term debt,which has enabled us to fund ongoing projects.And perhaps most importantly,PTC is itself a Product First company.We continue to develop superior solutions to help our c