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SOFTWARE INDUSTRY NEWS |
Teradata reports 2009 fourth quarter and full-year results |
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Teradata Corporation, the software developer focused on data warehousing and enterprise analytics, has reported revenue of $496 million for the quarter ended December 31, 2009, an increase of 1 percent from $493 million in 2008, including a 4 percent benefit from currency fluctuations. Gross margin was 56 percent versus 54.6 percent in the fourth quarter of 2008, with the improvement being driven by the Americas region that saw a more favorable deal mix as compared to the prior-year period.  Fourth quarter net income under was $84 million, or $0.48 per diluted share compared to net income of $79 million or $0.45 per diluted share in the fourth quarter of 2008. Fourth-quarter operating income was $106 million, up from $102 million in the fourth quarter of 2008. Teradata generated $91 million of cash from operating activities, compared to $118 million in the prior year period. Capital expenditures in the fourth quarter were $27 million compared to $13 million in the fourth quarter of 2008. Teradata generated $64 million of free cash flow (cash from operations less capital expenditures and additions to capitalized software) in Q4 2009, versus generating $105 million in the same period in 2008. During the quarter, the company said it used approximately $103 million of cash to repurchase 3.4 million shares. For the full year 2009, revenue was $1.709 billion, a 3 percent decrease from $1.762 billion in 2008, including a two percent negative currency impact. Gross margin was 54.9 percent, up from 53.9 percent in 2008, with the increase being driven primarily by improvements in consulting services that benefited from increased utilization of internal consulting resources. Net income was $254 million, or $1.46 per diluted share which included $5 million ($3 million after-tax) of impairment charges to write down the value of a historical equity investment. Operating income was $338 million in 2009, versus $333 million in 2008. Cash from operating activities was $455 million, versus $440 million generated in 2008. Teradata's free cash flow for the full year was $367 million, approximately the same as the $369 million generated in 2008. During the year, the company repurchased 7 million shares for approximately $175 million. In 2008, the company repurchased 8.5 million shares for approximately $176 million. Mike Koehler, president and CEO of Teradata Corporation said the company finished the year and the quarter with record operating income and EPS. Teradata ended 2009 with $661 million in cash and short-term investments, a $43 million decrease from September 30, 2009. Share repurchases during the fourth quarter of 2009 exceeded the free cash flow generated in the same period. In 2010, Teradata said it expects revenue to increase approximately seven to nine percent from the revenue it generated in 2009, including one to two percentage points of benefit from currency translation, based on currency rates on January 29, 2010. Earnings per share in 2010 is expected to be in the $1.54 to $1.64 range. |
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