Home News Dassault Systemes lowers 2009 forecasts

Dassault Systemes lowers 2009 forecasts


* 2009 non-IFRS revenue to fall between 5 and 9 pct

* Says Q1 non-IFRS EPS 0.37 euros

* Says Q1 non-IFRS operating margin 19.4 pct

(PARIS, APRIL 30, 2009) (Reuters) French software firm Dassault Systemes (DAST.PA) cut its 2009 revenue and earnings goals because of the global economic downturn as it posted a 6 percent decline in first-quarter revenue.

Dassault, whose clients include global giants Boeing (BA.N) and Sony (6758.T), said it now expected 2009 non-IFRS revenue to fall by 5 to 9 percent. The group previously expected non-IFRS revenue to rise by 1-3 percent.

The group also cut its full-year earnings per share estimate to a range of 1.78 to 2.00 euros, against the 2.02-2.12 euros per share it had expected in February.

“The first quarter brought further deterioration of the economic environment, which led to a significant decrease in our new licence activity across brands and geographic regions,” Chief Executive Bernard Charles said in a statement on Thursday.

The company had pre-announced first-quarter earnings on April 16, saying it had missed its sales target and was likely to cut its goal for the full year.

Final first-quarter figures showed revenue was 310.7 million euros ($411.7 million), down 6 percent at constant exchange rates, while earnings per share fell 10 percent to 0.37 euros and the operating margin was 19.4 percent.

The group added that it now expects a non-IFRS operating margin of about 24 to 26 percent for 2009, in line with the 25.5 percent it forecast in February. ($1=.7547 Euro) (Reporting by Michel Rose; Editing by James Regan)

© Thomson Reuters 2009 All rights reserved.

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