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For Release on February 9, 2012
Teradata Announces 2011 Fourth Quarter and Full-Year Results
Fourth-quarter revenue increased 23 percent, also up 23 percent in constant currency(1)
2011 revenue increased 22 percent, up 19 percent in constant currency(1)
Fourth-quarter GAAP EPS of $0.57, full-year GAAP EPS of $2.05
Fourth-quarter non-GAAP EPS of $0.66, up 25 percent from the prior year period(2)
2011 non-GAAP EPS of $2.32 versus $1.86 in 2010, a 25 percent increase(2)
2011 cash from operations of $513 million, up 24 percent from $413 million in 2010
Teradata Board of Directors approves new $300 million share repurchase authorization
ATLANTA Teradata Corporation (NYSE: TDC) today reported revenue of $673 million for the quarter ended December 31, 2011, an increase of 23 percent from $548 million in 2010. For the full-year 2011, revenue was $2.362 billion, a 22 percent increase from $1.936 billion in 2010. The fourth-quarter revenue comparison was not impacted by currency translation, while the full-year comparison was benefited by 3 percentage points.(1)
Stock-based compensation expense and a number of special items (primarily acquisition-related) had a net impact of $46 million on Teradatas 2011 net income as reported under U.S. Generally Accepted Accounting Principles (GAAP).
Gross margin in the fourth quarter of 55.6 percent was roughly the same as the 55.7 percent reported in the fourth quarter of 2010. On a non-GAAP basis, excluding the special items and stock-based compensation expense described in footnote #2 below,(2) fourth-quarter gross margin was 56.5 percent, an improvement from 55.8 percent in the fourth quarter of 2010. The increase in non-GAAP gross margin resulted from a favorable deal mix and leverage from increased product revenue, as well as improved consulting margins as compared to the prior-year period. Gross margin for full year 2011 was 54.7 percent, versus 56.2 percent in 2010. On a non-GAAP basis, excluding the special items described below, 2011 full-year non-GAAP gross margin was 55.9 percent, versus 56.4 percent for the full-year 2010. The decline in non-GAAP gross margin for the full year resulted from a higher mix of consulting revenue.
The following information was filed by Teradata Corp (TDC) on Thursday, February 9, 2012 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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