Teradata Corporation today reported revenue of $548 million for the quarter ended December 31, 2010, an increase of 10 percent from $496 million in 2009. For the full-year 2010, revenue was $1.936 billion, a 13 percent increase from $1.709 billion in 2009. The full-year revenue comparison included 1 percentage point of benefit from currency translation.
Gross margin in the fourth quarter of 55.7 percent was down slightly from the 56.0 percent reported in the fourth quarter of 2009. The gross margin decline from the strong prioryear period resulted from the Americas and Asia Pacific Japan regions seeing a less favorable deal mix as compared to the prior-year period. Gross margin for full year 2010 was 56.2 percent, a meaningful increase from 54.9 percent in 2009. The increase in gross margin for the full year was driven primarily by improvements in product gross margin.
Teradata reported fourth-quarter net income under Generally Accepted Accounting Principles (GAAP) of $85 million, or $0.50 per diluted share, which compared to GAAP netincome of $84 million, or $0.48 per diluted share, in the fourth quarter of 2009. For the full year 2010, Teradata reported GAAP net income of $301 million, or $1.77 per diluted share, which compared to GAAP net income of $254 million or $1.46 per diluted share, for the full year 2009. Excluding stock-based compensation expense, non-GAAP EPS was $0.53 in the fourth quarter of 2010, versus $0.50 in the fourth quarter of 2009.(2) Excluding stock-based compensation expense for both full-year periods, as well as an impairment charge in the third quarter of 2009, non-GAAP earnings for full-year 2010 were $1.86 per diluted share, compared to $1.56 per diluted share in 2009.
“Teradata had an excellent year in 2010, generating record financial results and adding the highest number of new customers since 2002. We continued to increase investments to advance our technology, services, solutions, partnerships and market coverage,” said Mike Koehler, president and chief executive officer of Teradata Corporation.
“These are exciting times for Teradata and our customers. We are positioned better than ever to help more customers manage and extract value from the accelerating explosion of data and new data types, and help them gain competitive advantage in their respective markets."
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