Dassault Systèmes Reports Record First Quarter Earnings and Reconfirms 2011 Financial Growth Objectives

DASSAULT SYSTEMES

CONDENSED CONSOLIDATED BALANCE SHEETS (IFRS)

(unaudited; in millions of Euros)
  March 31,   December 31,
    2011   2010
 
ASSETS
Cash and cash equivalents 836.8 976.5
Short-term investments 323.5 162.6
Accounts receivable, net 415.3 413.5
Other current assets 169.2 120.6
Total current assets 1,744.8 1,673.2
Property and equipment, net 66.6 66.4
Goodwill and Intangible assets, net 1,201.3 1,233.3
Other non current assets 92.4   98.9
Total Assets   € 3,105.1   € 3,071.8
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable 80.1 93.1
Unearned revenues 444.4 387.0
Other current liabilities 282.7 295.0
Total current liabilities 807.2 775.1
Long-term debt 286.4 293.4
Other non current obligations 192.6 211.5
Total long-term liabilities 479.0 504.9
Minority interests 1.0 1.0
Parent shareholders' equity 1,817.9   1,790.8
Total Liabilities and Shareholders' equity   € 3,105.1   € 3,071.8

DASSAULT SYSTEMES

CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (IFRS)

(unaudited; in millions of Euros)
  Three months ended
   

March 31,
2011

 

March 31,
2010

  Change
Net Income attributable to equity holders of the parent 63.8   37.8   26.0
Minority interest 0.1   0.0   0.1
Net Income 63.9 37.8 26.1
Depreciation of property & equipment 6.2 5.3 0.9
Amortization of intangible assets 22.1 10.7 11.4
Other non cash P&L Items 0.5 4.4 (3.9)
Changes in working capital 41.0   75.1   (34.1)
Net Cash provided by operating activities 133.7 133.3 0.4
 
Addition to property, equipement and intangibles (9.2) (8.6) (0.6)
Payments for acquisition of businesses, net of cash acquired (29.5) (321.2) 291.7
Sale of fixed assets 0.1 0.2 (0.1)
Sale (purchase) of short term investments, net (162.9) 19.2 (182.1)
Loans and others (3.2)   0.0   (3.2)
Net Cash provided by (used in) investing activities (204.7) (310.4) 105.7
 
Proceeds (Repayments) of short-term and long-term debt 0.0 0.0 0.0
Share repurchase (111.1) (1.5) (109.6)
Exercise of DS stock option 80.1 2.2 77.9
Cash dividend paid 0.0   0.0   0.0
Net Cash provided by (used in) financing activities (31.0) 0.7 (31.7)
 
Effect of exchange rate changes on

cash and cash equivalents

(37.7) 40.2 (77.9)
         
Increase in cash and cash equivalents   (139.7)   (136.2)   (3.5)
             
Cash and cash equivalents at beginning of period 976.5 939.1
Cash and cash equivalents at end of period   836.8   802.9    

DASSAULT SYSTEMES

SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION

IFRS – NON-IFRS RECONCILIATION

(unaudited; in millions of Euros, except per share data)

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