Dassault Systemes Reports Q3 2006 Revenue And Earnings


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

-- Fourth quarter non-GAAP total revenue of about EUR 350-355 million, non-GAAP EPS of about EUR 0.67-0.69 and non-GAAP operating margin of about 34-35%

-- 2006 non-GAAP total revenue objective of about EUR 1.175-1.180 billion, representing about 27% growth in constant currencies

-- 2006 non-GAAP operating margin of about 27.0%

-- 2006 non-GAAP EPS of about EUR 1.78-1.80, 12-13% growth

-- Objectives based upon exchange rate assumptions for the fourth quarter of US$1.30 per EUR 1.00 (unchanged) and JPY 150 (previously JPY 145) per EUR 1.00

-- 2007 non-GAAP total revenue growth objective of about 11-12% in constant currencies

The non-GAAP objectives set forth above do not take into account the following accounting elements: deferred revenue write-downs estimated at approximately EUR 19 million for 2006; adoption of SFAS 123R, share-based compensation expense as of January 1, 2006, estimated at approximately EUR 13 million for 2006; amortization expenses for acquired intangibles estimated at approximately EUR 11 million per quarter; positive one-time tax restructuring effects of approximately EUR 7 million for 2006; and deferred revenue write-downs estimated at approximately EUR 6 million for 2007.

Conference call information

Dassault Systemes will host a teleconference call today, Thursday, October 26, 2006 at 3:00 PM CET/2:00 PM London/9:00 AM New York. The conference call will be available via the Internet by accessing http://www.3ds.com/corporate/investors/. Please go to the website at least fifteen minutes prior to the call to register, download and install any necessary audio software. The webcast teleconference will be archived for 30 days. Financial information to be discussed in the call will be available on the Company's website prior to commencement of the teleconference at http://www.3ds.com/corporate/investors/. Additional investor information can be accessed at http://www.3ds.com/corporate/investors/ or by calling Dassault Systemes' Investor Relations at 33.1.40.99.69.24.

Cautionary statement regarding forward-looking statements: Statements above that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding our financial performance objectives are forward-looking statements (within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended). Such forward-looking statements are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to, among other factors: (i) currency fluctuations, particularly the value of the U.S. dollar or Japanese yen with respect to the euro; (ii) reduced corporate spending on information technology as a result of changing economic or business conditions that could negatively affect market demand for our products and services; (iii) difficulties or adverse changes affecting our partners or our relationships with our partners, including our longstanding, strategic partner, IBM; (iv) new product developments and technological changes; (v) errors or defects in our products; (vi) growth in market share by our competitors; and (vii) the realization of any risks related to the integrations of Abaqus and MatrixOne or any other newly acquired company and internal reorganizations. Unfavorable changes in any of the above or other factors described in the Company's SEC reports, including the Form 20-F for the year ended December 31, 2005, which was filed with the SEC on June 30, 2006, could materially affect the Company's financial position or results of operations.

About Dassault Systemes

As a world leader in 3D and Product Lifecycle Management (PLM) solutions, Dassault Systemes brings value to more than 90,000 customers in 80 countries. A pioneer in the 3D software market since 1981, Dassault Systemes develops and markets PLM application software and services that support industrial processes and provide a 3D vision of the entire life cycle of products from conception to maintenance. The Dassault Systemes portfolio consists of CATIA for designing the virtual product - SolidWorks for 3D mechanical design - DELMIA for virtual production - SIMULIA for virtual testing and ENOVIA for global collaborative lifecycle management, including ENOVIA VPLM, ENOVIA MatrixOne and ENOVIA SmarTeam. Dassault Systemes is listed on the Nasdaq (DASTY) and Euronext Paris (#13065, DSY.PA) stock exchanges. For more information, visit: http://www.3ds.com

CATIA, DELMIA, ENOVIA, SIMULIA and SolidWorks are registered trademarks of Dassault Systemes or its subsidiaries in the US and/or other countries.
                          DASSAULT SYSTEMES
             CONSOLIDATED STATEMENT OF INCOME (U.S. GAAP)
             (in millions of Euro, except per share data)

                              Three months ended    Nine months ended
                              -------------------  -------------------
                              Sept. 30, Sept. 30,  Sept. 30, Sept. 30,
                                 2006      2005       2006      2005
--------------------------------------- ---------  --------- ---------
 New licenses revenue             94.7      85.8      297.9     241.4
 Recurring licenses and
  product development revenue    130.7      97.5      378.6     290.0
                              --------- ---------  --------- ---------
 Software revenue                225.4     183.3      676.5     531.4
 Service and other revenue        50.9      30.5      131.9      98.9
                              --------- ---------  --------- ---------
 Total Revenue                EUR 276.3 EUR 213.8  EUR 808.4 EUR 630.3

 Cost of software revenue         13.1       5.9       36.2      18.5
 Cost of service and other
  revenue                         36.6      26.9      104.4      82.3
 Research and development         77.0      62.0      224.8     179.9
 Marketing and sales              73.0      54.1      211.7     156.5
 General and administrative       20.9      14.1       59.3      41.7
 Amortization of acquired
  intangibles                     11.0       0.3       30.4       1.1
                              --------- ---------  --------- ---------
 Total Operating Expenses     EUR 231.6 EUR 163.3  EUR 666.8 EUR  480.0
                                                            =========  =========    =========  =========
  Operating  Income                            EUR  44.7    EUR  50.5    EUR  141.6  EUR  150.3
  Financial  revenue  and  other,
    net                                                            1.6              6.9              (0.8)          12.7
                                                            ---------  ---------    ---------  ---------
  Income  before  income  taxes              46.3            57.4            140.8          163.0
  Income  tax  expense                              (5.4)        (19.6)          (39.2)        (56.5)
                                                            ---------  ---------    ---------  ---------
  Net  Income                                        EUR  40.9    EUR  37.8    EUR  101.6  EUR  106.5
                                                            =========  =========    =========  =========
  Basic  net  income  per  share        EUR  0.35    EUR  0.33      EUR  0.88    EUR  0.94
                                                            =========  =========    =========  =========
  Diluted  net  income  per  share    EUR  0.34    EUR  0.32      EUR  0.85    EUR  0.91
                                                            =========  =========    =========  =========
  Basic  weighted  average  shares
    outstanding  (in  millions)            115.3          114.1            115.1          113.8
                                                            =========  =========    =========  =========
  Diluted  weighted  average
    shares  outstanding  (in
    millions)                                            118.9          118.0            119.1          117.1
---------------------------------------  ---------    ---------  ---------
 


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