Teradata announces Q1 2012 results
Teradata Corporation reported revenue of US $613 million for the quarter ended March 31, 2012, an increase of 21 percent from US $506 million in the first quarter of 2011. The first-quarter revenue comparison was negatively impacted by 1 point of currency translation.
Gross margin of 55.1 percent was up from 54.3 percent reported in the first quarter of 2011. On a nonGAAP basis, excluding the special items and stock-based compensation expense, gross margin was 55.9 percent, an improvement from 55.7 percent in the first quarter of 2011. The increase in non-GAAP gross margin was driven by leverage from increased product revenue and a favourable deal mix.
Stock-based compensation expense and a number of special items (primarily acquisition-related) had a net impact of US $12 million on Teradata’s first quarter 2012 net income as reported under U.S. Generally Accepted Accounting Principles (GAAP).
Teradata reported GAAP net income of US $91 million, or US $0.53 per diluted share, which compared to GAAP net income of US $65 million, or US $0.38 diluted share, in the first quarter of 2011. Excluding stock compensation expense and special items, nonGAAP net income in the first quarter of 2012 was US $103 million or US $0.60 per diluted share, versus US $82 million, or US $0.48 per diluted share in first quarter of 2011.
“Teradata delivered our highest organic, constant-currency revenue growth quarter ever in the first quarter, fueled by record product revenue growth of 31 percent,” said Mike Koehler, President and CEO of Teradata. “We have the widest and deepest portfolio in the market to address the analytic data needs of any organization. Teradata is well positioned in three large growing markets – date warehousing, big data analytics and integrated marketing management.
“Looking forward, data and analytics are increasingly a priority for the C-Suite, and driving strong activity across all regions; and therefore we are raising our 2012 full-year revenue growth guidance.”