Dassault Systemes’ profits double in 2Q
DS projects double digit returns for second half of the year.
French software company Dassault Systemes has raised its 2010 outlook as net profit in the second quarter almost doubled, rising to EUR48.6 million from EUR25.6 million a year earlier. Revenue over the same period reached EUR385.6 million from EUR310.9 million. In addition, the company said it is raising its 2010 targets to reflect recent acquisitions, currency fluctuations and the better-than-expected second quarter.
"Dassault Systemes had a very solid second quarter, with sales above the high end of our revenue target excluding any currency benefits, and earnings and operating margin results significantly above our objectives, thanks in large measure to execution at both the sales and operational levels," Chief Executive Bernard Charles said.
Excluding the impact of foreign exchange fluctuations, the company said it now expects revenue growth between 22% and 25% in the second half.
Dassault Systemes also reports non-IFRS figures that do not take into account a number of accounting elements including deferred revenue write-downs and share-based compensation.
The company targets 2010 non-IFRS revenue growth of about 16% to 18% at constant currencies. It also expects non-IFRS earnings per share of about EUR2.25 to EUR2.35, an increase from the previous target of EUR2.19 to EUR2.28.