Nov 6 (Reuters) - Industrial software maker PTC

forecast first-quarter revenue below estimates on Wednesday,

signaling continued weakness in demand for its industrial design

and testing software as companies keep a tight leash on budgets.

Businesses have dialed back on software budgets in the wake

of high-interest rates and an uncertain economy, weighing on

demand for companies such as PTC.

With companies like Volkswagen and Indian

motorcycle maker Eicher Motors' Royal Enfield as

clients, PTC makes software that helps firms design, build and

manage products throughout their life cycles.

The Boston-based company also said that its board has

authorized a share repurchase of up to $2 billion through

September 2027.

The company expects revenue to be between $540 million and

$570 million in the first quarter, below analysts' average

estimate of $609.1 million, according to data complied by LSEG.

PTC projected adjusted earnings per share of 75 cents to 95

cents for the quarter, compared with analysts' estimate of

$1.33.

For the fiscal year 2025, PTC expects revenue to be between

$2.51 billion and $2.61 billion, the midpoint of which is above

analysts' average estimate of $2.54 billion.

It posted revenue of $626.5 million for the fourth quarter

ended Sept. 30, compared with the average analyst estimates of

$620.5 million.