Dassault Revenue Climbs 29%
Dassault Systemes reported a healthy third quarter, with GAAP total revenue up 29% to €276.3 million, compared to €213.8 million in the third quarter of 2005. Net income increased slightly to €40.9 million, up from €37.8 million in the same quarter of 2005. The company updated its 2006 objectives and provided initial 2007 guidance.
Software revenue increased 23% to €225.4 million; service and other revenue increased 67% to €50.9 million for the third quarter, compared to €30.5 million in third quarter 2005. The percentage gains are very close to what Dassault reported in the previous two quarters.
In dollars, net income for the quarter was $51.9 million, cash on hand $578 million, and total revenues $350.9 million.
SolidWorks seats licensed increased 19% year-over to 9,544 licenses for the 2006 third quarter. New CATIA seats licensed decreased from the year-ago period by 4% to 7,431. Dassault says that its major acquisition from 2005, Abaqus, had four consecutive quarters of “solid execution, revenue growth and operating margin contribution,” but did not break out specific sales numbers in their report.
Organic growth for the quarter (subtracting out the MatrixOne revenue) was 19% year-over. Consensus analyst estimates for the third quarter were €283 million revenue and EPS of 35 cents; Dassault came in slightly below the revenue figure but exceeded the earnings per share estimate.
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