DS Reports Second Quarter 2009 Financial Results At High End of Company Objectives

(2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is a 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 118.1 million diluted shares for Q2 2009 and 118.9 million diluted shares for Q2 2008.

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, 2008 filed with the AMF on April 2, 2009. 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,   Variation
2009  

Adjustment

  2009   2008  

Adjustment

  2008   IFRS  

Non-IFRS

    IFRS  

(1)

  non-IFRS   IFRS  

(1)

  non-IFRS      

(2)

Total Revenue € 620.6 1.3 € 621.9 € 633.6 0.5 € 634.1 (2%) (2%)
 
Total Revenue breakdown by activity
Software revenue 543.1 1.3 544.4 547.1 0.5 547.6 (1%) (1%)
New Licenses 134.0 201.9 (34%)
Product Development 2.6 0.1
Periodic Licenses and Maintenance 406.5 1.3 407.8 345.1 0.5 345.6 18% 18%
Recurring portion of Software revenue 75% 75% 63% 63%
Services and other revenue 77.5 86.5 (10%)
Total Software Revenue breakdown by product line
PLM software revenue 407.2 1.3 408.5 413.5 0.5 414.0 (2%) (1%)
of which CATIA software revenue 234.4 249.0 0.3 249.3 (6%) (6%)
of which ENOVIA software revenue 74.2 81.4 0.2 81.6 (9%) (9%)
Mainstream 3D software revenue 135.9 133.6 2%
 
Total Revenue breakdown by geography
Americas 193.9 0.5 194.4 189.8 0.2 190.0 2% 2%
Europe 281.8 0.1 281.9 295.8 0.2 296.0 (5%) (5%)
Asia   144.9   0.7   145.6   148.0   0.1   148.1   (2%)   (2%)
Total Operating Expenses (€ 538.0) 44.6 (€ 493.4) (€ 495.8) 13.7 (€ 482.1) 9% 2%
Stock-based compensation expense (12.8) 12.8 - (9.8) 9.8 - - -
Amortization of acquired intangibles (22.6) 22.6 - (18.6) 18.6 - - -
Other operating income and expense, net   (9.2)   9.2   -   14.7   (14.7)   -   -   -
Operating Income € 82.6 45.9 € 128.5 € 137.8 14.2 € 152.0 (40%) (15%)
Operating Margin 13.3% 20.7% 21.7% 24.0%
Income before Income Taxes 78.4 45.9 124.3 138.0 14.2 152.2 (43%) (18%)
Income tax expense (23.9) (13.0) (36.9) (37.7) (10.7) (48.4) - -
Income tax effect of adjustments above (13.0) 13.0 - (10.7) 10.7 - - -
Minority interest (0.1) (0.1) -
Net Income attributable to shareholders € 54.4 32.9 € 87.3 € 100.2 3.5 € 103.7 (46%) (16%)
Diluted Net Income Per Share (3)   € 0.46   0.28   € 0.74   € 0.84   0.03   € 0.87   (45%)   (15%)

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