Teradata Reports Fourth Quarter and Full-Year 2014 Results
Full-year revenue of $2.732 billion, up 1 percent, up 3 percent in constant currency(1)
Fourth quarter revenue was $761 million, down 1 percent, up 3 percent in constant currency(1)
GAAP EPS of $0.77 in the quarter, $2.33 for the full-year period
Non-GAAP EPS of $0.91 in the quarter, $2.86 for the full-year period(2)
Cash from Operations increased 54 percent in the quarter, and 33 percent to $680 million for the year
ATLANTA, Georgia - February 5, 2015 -- Teradata Corp. (NYSE: TDC) reported revenue of $761 million for the quarter ended December 31, 2014, versus $769 million in the fourth quarter of 2013.Fourth quarter revenue decreased 1 percent when compared to the prior year period, but increased 3 percent when compared in constant currency.(1) For the full-year 2014, revenue was $2.732 billion, a 1 percent increase from $2.692 billion in 2013. In constant currency, full-year revenue increased 3 percent.(1) Currency created a headwind of 4 percent for the fourth quarter revenue comparison, and 2 percent for the full-year comparison.
Gross margin was 55.8 percent, versus 56.0 percent reported in the fourth quarter of 2013 under U.S. Generally Accepted Accounting Principles (GAAP). On a non-GAAP basis, excluding stock-based compensation expense and special items described in footnote #2, gross margin was 56.9 percent, versus 57.3 percent in the prior year period.(2) The decrease in non-GAAP gross margin for the quarter resulted primarily from lower product gross margins. On a GAAP basis, gross margin for the full-year 2014 was 54.1 percent, versus 54.7 percent in 2013. On a non-GAAP basis, excluding special items described in footnote #2, 2014 full-year non-GAAP gross margin was 55.5 percent, versus 56.0 percent for the full-year 2013.(2) The decrease in non-GAAP gross margin for the full-year primarily resulted from increased amortization of previously capitalized software and lower consulting services rates.
Teradata reported fourth quarter net income of $118 million, or $0.77 per diluted share, which compared to net income of $112 million, or $0.68 per diluted share, in the fourth quarter of 2013. Stock-based compensation expense and other special items reduced Teradata’s 2014 fourth quarter net income by $22 million, or $0.14 of earnings per diluted share, as reported under GAAP.(2) Excluding stock-based compensation expense and special items, non-GAAP net income in the fourth quarter of 2014 was $140 million, or $0.91 per diluted share, versus $144 million, or $0.88 per diluted share, in the fourth quarter of 2013.(2)
Full-year net income reported under GAAP was $367 million, or $2.33 per diluted share, which compared to net income of $377 million, or $2.27 per diluted share in 2013. Stock-based
The following information was filed by Teradata Corp (TDC) on Thursday, February 5, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: TDC CIK: 816761 Form Type:10-K Annual Report Accession Number: 0000816761-15-000008 Submitted to the SEC: Fri Feb 27 2015 10:27:25 AM EST Accepted by the SEC: Fri Feb 27 2015 Period: Wednesday, December 31, 2014 Industry: Electronic Computers