(DASSAULT-SYSTEMES)(DASTY) Dassault Systemes Reports 37% Increase in 1997
Revenue and 42% Increase in Net Income Per Share Excluding One-Time
Acquisitions Costs of FF 556 Million
(Business Wire; 02/10/98)
SURESNES, France--(BUSINESS WIRE)--February 11, 1998--Dassault Systemes
S.A. (Nasdaq: DASTY; Bourse de Paris), a worldwide leading software developer
of CAD/CAM/CAE/PDM (computer aided design/manufacturing/engineering/product
data management) products, today announced financial results for the fourth
quarter and year ended December 31, 1997.
For the 1997 fourth quarter total revenue increased 36% to FF 614.8
million, compared to fourth quarter 1996 total revenue of FF 453.0 million.
Total software revenue increased 41% to FF 524.3 million in the 1997 fourth
quarter, up from FF 373.3 million in the year-ago period. Recurring software
revenue represented 40% of total software revenue. New CATIA-CADAM workstation
seats shipped in the quarter totaled 7,224, and new SolidWorks seats shipped
totaled 2,725. Service and other revenue totaled FF 90.5 million, and
represented 15% of total revenue.
[ . . . cut . . . ]
For the year ended December 31, 1997, total revenue increased 37% to FF
1,962.9 million, compared to FF 1,431.6 million in 1996. Software revenue in
1997 increased 39% to FF 1,695.2 million, up from FF 1,220.6 million in the
prior year. Operating income (before one-time costs) rose 78% to FF 765.9
million in 1997, compared to FF 429.4 million in 1996. Net income (before one-
time costs) increased 48% in 1997 to FF 462.1 million, compared to FF 311.9
million in 1996. On a per share basis, net income (before one-time costs) rose
42% to FF 4.25 in 1997, compared to FF 2.99 in 1996. With the inclusion of FF
5.13 per share of after-tax acquisition costs, the Company reported a net loss
of FF 0.87 per share for the year.
Charles Edelstenne, Dassault Systemes' Chairman and Chief Executive
Officer, commented, "The fourth quarter was one of very solid performance for
the Company and caps off a strong year. Growth in Europe and Asia was
particularly strong in the fourth quarter, with revenue increasing 33%, and
65%, respectively. Further, our financial flexibility and resources are very
high as reflected in the strength of our balance sheet."
Bernard Charles, President of Dassault Systemes, commented, "During the
fourth quarter we achieved some key wins in the Fabrication and Assembly
sector. New customers include Schuler, AD Tranz and Jacob Mueller Frick. We
believe these successes reflect the investments we have made in new products
for the Fabrication and Assembly market. SolidWorks had very good results in
the quarter, with several significant wins. In addition, SolidWorks results
clearly show that the company is building a base of repeat customers, thereby
generating recurring revenues.
"Overall, Dassault Systemes made significant progress in 1997 in
our market reach and in developing our vision of a digital enterprise. We are
continuing to reinvest in research and development to enhance further our
technological leadership in the coming years. The Company closed out the year
with over 900 professionals in research and development. Further, we believe
that our recent acquisition of Deneb, a leader in providing digital
manufacturing solutions, will accelerate the execution of our vision of a
[ . . . ]
Dassault Systemes is available on the Internet at: http://www.dsweb.com.
CONTACT: Dassault Systemes S.A.
Thibault de Tersant
Executive Vice President,
Finance and Administration
Lynn Morgen/Michele Katz/Connie Bienfait
Press: Brian Maddox/Estelle Bieber
Morgen-Walke Associates, Inc.
Press: Madeleine Resener/Pierre Laurent
Morgen-Walke Europe S.A.
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