Dassault Systèmes Reports New Licenses Revenue Growth of 36% in Q2

Embraer SA, the world’s fourth-largest plane maker, is deploying a complete 3D solution for the design and manufacturing of its Phenom and Legacy 500 executive jets at its Melbourne, Florida, US and Sao Jose dos Campos, Brazil plants. Digital Factory is a 3D source for product information aimed at reducing design and manufacturing costs by creating a single set of plans, design models, work and product instructions, all integrated into a secure, collaborative platform.

Dassault Systèmes Goes Cloud with Version 6. In June, Dassault Systèmes announced its new online Version 6 platform, its new store, 3DStore online (swym.3ds.com/#3DStore), for lifelike experiences and applications, and its first online cloud business services. Dassault Systèmes also announced its strategic investment in Outscale, a start-up providing SaaS operator services. With Version 6 cloud-based solutions, users can get what they need, when they need it. Offered as a flexible subscription model, without upfront investments in additional infrastructure, long-term volume commitments or administrative burden, Version 6 Online solutions are designed to adapt to the needs of organizations or projects of any scale.

Dassault Systèmes Goes Cloud with Amazon Web Services. Dassault Systèmes and Amazon Web Services (AWS), an Amazon.com company and leader in elastic cloud infrastructure, are working together to enable companies of all sizes to get started quickly with Dassault Systèmes Version 6 solutions on AWS.

Dassault Systèmes Launches Version 6 Release 2012 and Introduces New Levels of Openness and Lifelike Experience. This release demonstrates Dassault Systèmes’ focus on delivering an open collaborative platform to its customer base and beyond. Release 2012 introduces new interoperability solutions between Version 6 and other PDM systems, and new levels of integration between Version 6 and ERP solutions. It broadens the value of digital assets into new solutions such as immersive retail store experiences and global production system planning with 3DVIA Shopper and DELMIA Global Production System Planning.

Business Outlook

Thibault de Tersant, Senior Executive Vice President and CFO, commented, “The second quarter exceeded our expectations on very healthy demand for our software solutions, with the upside coming both from new licenses revenue and recurring revenue. This performance translated into non-IFRS EPS growth of 10%, and would have been 16% without currency headwinds.

“We are upgrading our 2011 financial objectives for the full €20 million second quarter revenue over-performance, leading to a 2011 revenue growth outlook of 11 to 12% in constant currencies, and earnings per share growth of about 8 to 12% in spite of currency headwinds.

“With respect to second half growth comparisons, let me remind you that our 2010 third quarter revenue was well above our historic seasonal revenue trend. For the 2011 third quarter and second half, our objectives incorporate a sequential revenue outlook range in line with historic patterns. Secondly, with respect to recurring revenue, we had an important level of maintenance recoveries in the 2010 second half, as we outlined last year, which were one-time in nature.

“Overall, we are well positioned going into the second half of the year, and despite the uncertainty of the global economic environment, we have increased confidence in our 2011 financial objectives thanks to our second quarter results.”

The Company’s current objectives are as follows:

  • Third quarter 2011 non-IFRS total revenue objective of about €405 to €415 million, non-IFRS operating margin of about 27% and non-IFRS EPS of about €0.60 to €0.65;
  • Upgrading 2011 non-IFRS revenue growth objective range to 11% to 12% in constant currencies; (increasing the reported revenue range to €1.70 to €1.72 billion from €1.67 to €1.70 billion previously);
  • Reconfirming 2011 non-IFRS operating margin slightly in excess of 29%;
  • Upgrading 2011 non-IFRS EPS range to €2.69 to €2.80 from €2.64 to €2.75 previously; representing growth of about 8% to 12% from 6% to 10%, previously;
  • Objectives are based upon exchange rate assumptions for the 2011 second half of US$1.45 per €1.00 and JPY120 per €1.00 and a full year average of US$1.43 per €1.00 and JPY117 per €1.00.

The Company’s objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

The non-IFRS objectives set forth above do not take into account the following accounting elements and are estimated based upon the 2011 currency exchange rates above: deferred revenue write-downs estimated at approximately €1 million for 2011; share-based compensation expense estimated at approximately €15 million for 2011 and amortization of acquired intangibles estimated at approximately €82 million for 2011. The objectives outlined above do not include any impact from other operating income and expense, net principally comprised of acquisition, integration, restructuring and relocation expenses and certain one-time gains in financial revenue and other, net. These estimates do not include any new stock option or share grants, or any new acquisitions or restructurings completed after July 28, 2011.

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