MCAD Industry View – An August 2006 Update

Carl Bass, Autodesk president and CEO, said, “We are very pleased with the progress we made in the business this quarter. Customer demand was robust and our operational execution, including expense management, was strong. Our products provide innovation and productivity that translate into real competitive advantage which our customers need in every economic environment."

On July 27, 2006 Dassault Systemes reported its financial results for the second quarter the period ended June 30, 2006. Total revenue for the quarter was 286 million euros, an increase of nearly 32% from the same quarter a year earlier and a increase of about 12% from prior quarter. This was at the high end of the guidance given a quarter ago. Software revenue was €238m, a 32% increase year-over-year and nearly a 12% increase sequentially. Service revenue was €42m, an increase of 15% year-over-year and an increase of almost 8% sequentially. New license revenue accounted for 41% of total revenue, recurring software revenue for 44%, and services for 15%.

Dassault has renamed its product categories by brand name rather than generic label, i.e. Enovia rather than PDM and SolidWorks rather than Design Centric. Enovia now encompasses Enovia, SmarTeam and MatrixOne offerings and services. In the quarter SolidWorks accounted for 20% of total revenue, Enovia 17% and PLM ex-Enovia 63%.

Dassault

Lastg QTR Revenue

Prev QTR Revenue

Last vs. Prev QTR

Comparable 2005 QTR

Last QTR vs. Comparable QTR

PLM ex Enovia

182

177.4

2.6%

145.2

25.3%

Enovia

47.9

26.3

82.1%

25.5

87.8%

PLM

229.9

203.7

12.9%

170.7

34.7%

SolidWorks

56.1

52.3

7.3%

46.6

20.4%

Total

286

256

11.7%

217.3

31.6%

Table 5 Dassault Revenue by Product Segment (millions of euros)

 

The Americas accounted for 29% of total revenue, Europe 48% and Asia 23%. Revenue in the America was up 20% year-over-year, up 35% in Europe and up 42% in Asia.

In the second quarter 9,100 seats of CATIA were sold at an ASP of €13,100 and 11,385 seats of SolidWorks at an ASP of €5,183.

At the Annual Shareholders’ Meeting held on June 14, 2006, DS’ shareholders approved the payment of an annual cash dividend equivalent to €0.42 per share, representing €48 million in the aggregate, for the fiscal year ended December 31, 2005.

Net income in the quarter was €29.4 million, a 22% drop from the €37.8 million in the second quarter of 2005 and a 6% decline from the €31.3 million in the prior quarter. The quarter included €12 million in acquisition costs (MatixOne €5 million, and Abacus €3.7 million).

Bernard Charlès, Dassault Systèmes President and Chief Executive Officer, commented, “DS had a great second quarter, with revenue, earnings and operating margin coming in above our objectives. Software revenue increased 36% in constant currencies on broad-based strength, with CATIA results providing a solid foundation. The strong performance of our sales organization and partners, including IBM, business partners and the SolidWorks channel, contributed to this excellent quarter.”

Thibault de Tersant, Executive Vice President and CFO of Dassault Systèmes, commented, “MatrixOne is delivering on all of our acquisition objectives. MatrixOne’s performance exceeded our targets and it is already at break-even in its first period of operation as a part of Dassault Systèmes. And our plans to achieve cost savings are solidly on track.”

On June 7, 2006 ESI-Group reported financial results for its first quarter, the period ended April 30, 2006. Total revenue was €12.8 million, a decrease of 5.2% from the €13.5 million in the same quarter a year earlier, and a 48% decrease from the €24.7 million in the prior quarter. License revenue in the quarter was €9.8 million, accounting for 77% of total revenue. This was a nearly 7% decrease year-over-year and a 53% decrease sequentially. Service revenue was €3 million, essentially flat year-over-year, but a 27% decrease sequentially.

In terms of US dollars, total revenue was $16.1 million, consisting of $12.3 million in license revenue and $3.8 million in service revenue.

Alain de Rouvray, Chairman and CEO of ESI Group, said, "Q1 results are traditionally unrepresentative of our annual performance due to business seasonality which tends to become more pronounced."

On August 10, 2006 Moldflow Corporation reported financial results for its fourth quarter and for full 2006 fiscal year, the period ended June 30, 2006. Total revenue for the quarter was $17 million. This was a 6% decline from the $18.3 million in the same quarter a year earlier, and a 5% rise from the $16.2 million in the just prior quarter. Product revenue was $9.9 million, accounting for 58% of total revenue. This was a 12% decline year-over-year and a 4% increase sequentially. Services revenue was $7.2 million, accounting for 42% of total revenue. This was a nearly 3% gain year-over-year and a 7% gain sequentially.

Design Analysis Solutions revenue was $12.8 million, of which $6.2 million was product revenue. DA revenue was down 5% year-over-year. Manufacturing Solutions revenue was $4.3 million, of which $3.7 million was product revenue. Manufacturing revenue was down 22% year-over-year and 5% sequentially. Regionally, revenue in Asia/Pacific and Americas regions each represented 34% of total revenue, while revenue in the European region represented 32% of total revenue.

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