Dassault Systèmes Reports Second Quarter Results with Strong EPS Growth

(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.(3) Based on a weighted average 120.7 million diluted shares for Q2 2010 and 118.1 million diluted shares for Q2 2009.

DASSAULT SYSTEMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data)

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, 2009 filed with the AMF on April 1, 2010 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.

In millions of Euros, except per share data and percentages   Six months ended June 30,   Change
2010  

Adjustment

  2010   2009  

Adjustment

  2009   IFRS  

Non-IFRS

    IFRS  

(1)

  non-IFRS   IFRS  

(1)

  non-IFRS      

(2)

Total Revenue € 697.5 6.4 € 703.9 € 620.6 1.3 € 621.9 12% 13%
Total Revenue breakdown by activity
Software revenue 626.1 6.4 632.5 543.1 1.3 544.4 15% 16%
New Licenses 161.5 134.0 21%
Product Development 0.3 2.6
Periodic Licenses and Maintenance 464.3 6.4 470.7 406.5 1.3 407.8 14% 15%
Recurring portion of Software revenue 74% 74% 75% 75%
Services and other revenue 71.4 77.5 (8%)
Total Software Revenue breakdown by product line
PLM software revenue 477.2 6.4 483.6 407.2 1.3 408.5 17% 18%
of which CATIA software revenue 283.4 5.4 288.8 234.4 21% 23%
of which ENOVIA software revenue 83.8 0.9 84.7 74.2 13% 14%
Mainstream 3D software revenue 148.9 135.9 10%
Total Revenue breakdown by geography
Americas 207.9 1.1 209.0 193.9 0.5 194.4 7% 8%
Europe 314.6 1.4 316.0 281.8 0.1 281.9 12% 12%
Asia   175.0   3.9   178.9   144.9   0.7   145.6   21%   23%
Total Operating Expenses (€ 576.0) 50.7 (€ 525.3) (€ 538.0) 44.6 (€ 493.4) 7% 6%
Stock-based compensation expense (11.7) 11.7 - (12.8) 12.8 - - -
Amortization of acquired intangibles (27.4) 27.4 - (22.6) 22.6 - - -
Other operating income and expense, net   (11.6)   11.6   -   (9.2)   9.2   -   -   -
Operating Income € 121.5 57.1 € 178.6 € 82.6 45.9 € 128.5 47% 39%
Operating Margin 17.4% 25.4% 13.3% 20.7%
Income before Income Taxes 123.9 57.1 181.0 78.4 45.9 124.3 58% 46%
Income tax expense (37.4) (22.0) (59.4) (23.9) (13.0) (36.9) - -
Income tax adjustments (22.0) 22.0 - (13.0) 13.0 - - -
Minority interest (0.1) (0.1) -
Net Income attributable to shareholders € 86.4 35.1 € 121.5 € 54.4 32.9 € 87.3 59% 39%
Diluted Net Income Per Share (3)   € 0.72   0.29   € 1.01   € 0.46   0.28   € 0.74   57%   36%

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