Teradata Reports 2015 Fourth Quarter and Full-Year Results
Fourth quarter revenue was $719 million, down 6 percent, down 1 percent in constant currency(1)
Full-year revenue of $2.530 billion, down 7 percent, down 2 percent in constant currency(1)
GAAP EPS was $0.31 in the fourth quarter, $(0.89) for the full-year period
Non-GAAP EPS was $0.70 in the fourth quarter, $2.06 for the full-year period(2)
Excluding the Marketing Applications business that Teradata expects to exit in 2016, year over year:
2016 non-GAAP revenue expected to be flat to down 2 percent in constant currency,
2016 non-GAAP EPS expected to be $2.35 - $2.50
Teradata is continuing to execute on its business transformation initiatives
ATLANTA, Georgia - February 4, 2016 -- Teradata Corp. (NYSE: TDC) reported revenue of $719 million for the quarter ended December 31, 2015, versus $761 million in the fourth quarter of 2014.Fourth quarter revenue decreased 6 percent when compared to the prior year period, a decrease of 1 percent when compared in constant currency.(1) For the full-year 2015, revenue was $2.530 billion, a 7 percent decrease from $2.732 billion in 2014. In constant currency, full-year revenue decreased 2 percent versus 2014. (1) Currency created a 5 percentage point headwind for both the fourth quarter and full-year revenue comparisons to prior year results.
Gross margin was 50.8 percent, versus 55.8 percent reported in the fourth quarter of 2014 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 52.2 percent, versus 56.9 percent in the prior year period.(2) The decrease in non-GAAP gross margin for the quarter resulted primarily from deal mix and currency impact. Gross margin reported under GAAP for the full-year 2015 was 50.4 percent, versus 54.1 percent in 2014. On a non-GAAP basis, excluding special items described in footnote #2, 2015 full-year non-GAAP gross margin was 52.0 percent, versus 55.5 percent for the full-year 2014.(2) The decrease in non-GAAP gross margin for the full-year primarily resulted from deal mix and currency impact.
Teradata reported fourth quarter GAAP net income of $41 million, or $0.31 per diluted share, which compared to net income of $118 million, or $0.77 per diluted share, in the fourth quarter of 2014. Stock-based compensation expense and other special items (including a goodwill impairment charge of $34 million , or $0.25 of earnings per share) reduced Teradata’s 2015 fourth quarter net income by $53 million, or $0.39 of earnings per diluted share, as reported under GAAP.(2) Excluding stock-based compensation expense and special items (including goodwill impairment), non-GAAP net income in the fourth quarter of 2015 was $94 million, or $0.70 per diluted share, versus $140 million, or $0.91 per diluted share, in the fourth quarter of 2014.(2)
The following information was filed by Teradata Corp (TDC) on Thursday, February 4, 2016 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.
View differences made from one year to another to evaluate Teradata Corp's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed, and by Teradata Corp.
Ticker: TDC CIK: 816761 Form Type:10-K Annual Report Accession Number: 0000816761-16-000045 Submitted to the SEC: Fri Feb 26 2016 11:22:54 AM EST Accepted by the SEC: Fri Feb 26 2016 Period: Thursday, December 31, 2015 Industry: Electronic Computers