In millions of Euros, except per share data and percentages | Three months ended March 31, | Change | |||||||||||||||
2011 |
Adjustment |
2011 | 2010 |
Adjustment |
2010 | IFRS |
Non-IFRS |
||||||||||
IFRS |
(1) |
non-IFRS | IFRS |
(1) |
non-IFRS |
(2) |
|||||||||||
Total Revenue | € 409.5 | 0.4 | € 409.9 | € 311.9 | 0.1 | € 312.0 | 31% | 31% | |||||||||
Total Revenue breakdown by activity | |||||||||||||||||
Software revenue | 372.2 | 0.4 | 372.6 | 279.7 | 0.1 | 279.8 | 33% | 33% | |||||||||
New Licenses | 99.0 | 76.1 | 30% | ||||||||||||||
Product Development | 0.3 | 0.0 | |||||||||||||||
Periodic Licenses and Maintenance | 272.9 | 0.4 | 273.3 | 203.6 | 0.1 | 203.7 | 34% | 34% | |||||||||
Recurring portion of Software revenue | 73% | 73% | 73% | 73% | |||||||||||||
Services and other revenue | 37.3 | 32.2 | 16% | ||||||||||||||
Total Software Revenue breakdown by product line | |||||||||||||||||
PLM software revenue | 288.1 | 0.4 | 288.5 | 208.8 | 0.1 | 208.9 | 38% | 38% | |||||||||
of which CATIA software revenue | 176.6 | 0.4 | 177.0 | 120.7 | 46% | 47% | |||||||||||
of which ENOVIA software revenue | 48.0 | 36.2 | 33% | ||||||||||||||
Mainstream 3D software revenue | 84.1 | 70.9 | 19% | ||||||||||||||
Total Revenue breakdown by geography | |||||||||||||||||
Americas | 112.7 | 0.1 | 112.8 | 91.7 | 0.1 | 91.8 | 23% | 23% | |||||||||
Europe | 186.8 | 140.9 | 33% | ||||||||||||||
Asia | 110.0 | 0.3 | 110.3 | 79.3 | 39% | 39% | |||||||||||
Total Operating Expenses | (€ 318.7) | 24.9 | (€ 293.8) | (€ 262.4) | 19.5 | (€ 242.9) | 21% | 21% | |||||||||
Stock-based compensation expense | (3.8) | 3.8 | - | (4.8) | 4.8 | - | - | - | |||||||||
Amortization of acquired intangibles | (21.3) | 21.3 | - | (9.7) | 9.7 | - | - | - | |||||||||
Other operating income and expense, net | 0.2 | (0.2) | - | (5.0) | 5.0 | - | - | - | |||||||||
Operating Income | € 90.8 | 25.3 | € 116.1 | € 49.5 | 19.6 | € 69.1 | 83% | 68% | |||||||||
Operating Margin | 22.2% | 28.3% | 15.9% | 22.1% | |||||||||||||
Financial revenue & other, net | 3.3 | (3.3) | 0.0 | 5.7 | 0.0 | 5.7 | (42%) | (100%) | |||||||||
Income tax expense | (30.2) | (7.1) | (37.3) | (17.4) | (6.1) | (23.5) | 74% | 59% | |||||||||
Net Income attributable to shareholders | € 63.8 | 14.9 | € 78.7 | € 37.8 | 13.5 | € 51.3 | 69% | 53% | |||||||||
Diluted Net Income Per Share (3) | € 0.51 | 0.12 | € 0.63 | € 0.32 | 0.11 | € 0.43 | 59% | 47% | |||||||||
Three months ended March 31, | |||||||||||||||||
In millions of Euros | 2011 IFRS | Adjustment | 2011 | 2010 IFRS | Adjustment | 2010 | |||||||||||
non-IFRS | non-IFRS | ||||||||||||||||
Cost of services and other revenue | (39.3) | 0.1 | (39.2) | (34.3) | 0.2 | (34.1) | |||||||||||
Research and development | (76.9) | 1.8 | (75.1) | (77.4) | 2.8 | (74.6) | |||||||||||
Marketing and sales | (131.5) | 1.0 | (130.5) | (92.1) | 0.9 | (91.2) | |||||||||||
General and administrative | (30.9) | 0.9 | (30.0) | (27.5) | 0.9 | (26.6) | |||||||||||
Total stock-based compensation expense | 3.8 | 4.8 |
Dassault Systèmes Reports Record First Quarter Earnings and Reconfirms 2011 Financial Growth Objectives
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Readers are cautioned that the supplemental non-IFRS information
presented in this press release is subject to inherent limitations. It
is not based on any comprehensive set of accounting rules or principles
and should not be considered as a substitute for IFRS measurements.
Also, the Company’s supplemental non-IFRS financial information may not
be comparable to similarly titled non-IFRS measures used by other
companies. Further specific limitations for individual non-IFRS
measures, and the reasons for presenting non-IFRS financial information,
are set forth in the Company’s Document de référence for the year
ended December 31, 2010 filed with the AMF on April 1, 2011. To
compensate for these limitations, the supplemental non-IFRS financial
information should be read not in isolation, but only in conjunction
with the Company’s consolidated financial statements prepared in
accordance with IFRS.
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