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Teradata Reports 2013 Fourth Quarter and Full-Year Results
|||Fourth quarter revenue of $769 million up 4 percent, up 5 percent in constant currency(1)|
|||Full year revenue of $2.692 billion up 1 percent, up 2 percent in constant currency(1)|
|||Gross margin and operating margin improvement versus prior year quarter|
|||Fourth quarter non-GAAP operating income increased 16 percent year over year(2)|
|||GAAP EPS of $0.68 in the quarter, $2.27 for the full-year period|
|||Non-GAAP EPS of $0.88 in the quarter, $2.76 for the full-year period(2)|
ATLANTA, GeorgiaFebruary 6, 2014 Teradata Corp. (NYSE: TDC), the leading analytic data platforms, applications and services company, today reported revenue of $769 million for the quarter ended December 31, 2013, an increase of 4 percent from $740 million in the fourth quarter of 2012. Fourth quarter revenue increased 5 percent year-over-year when compared in constant currency.(1) For the full-year 2013, revenue was $2.692 billion, a 1 percent increase from $2.665 billion in 2012. In constant currency, revenue increased 2 percent for the full-year comparison.(1)
Gross margin was 56.0 percent, versus 55.4 percent in the fourth quarter of 2012, as reported 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 57.3 percent, versus 56.4 percent in the prior year period.(2) The increase in non-GAAP gross margin for the quarter resulted from favorable product revenue mix and higher service gross margin, driven in part from maintenance services revenue growth. Gross margin for the full-year 2013 was 54.7 percent, versus 55.9 percent in 2012. On a non-GAAP basis, excluding special items described in footnote #2, 2013 full-year non-GAAP gross margin was 56.0 percent, versus 56.9 percent for the full-year 2012.(2)
Teradata reported fourth quarter net income of $112 million, or $0.68 per diluted share, which compared to net income of $112 million, or $0.66 per diluted share, in the fourth quarter of 2012. Stock-based compensation expense and other special items, including a $14 million after-tax net loss on equity investments during the quarter, reduced Teradatas 2013 fourth quarter net income by $32 million or $0.20 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 2013 was $144 million, or $0.88 per diluted share, versus $135 million, or $0.79 per diluted share, in the fourth quarter of 2012.(2)
Full-year net income reported under GAAP was $377 million, or $2.27 per diluted share, which compared to net income of $419 million, or $2.44 per diluted share in 2012. Stock-based compensation expense and
The following information was filed by Teradata Corp (TDC) on Thursday, February 6, 2014 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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