checkAd

     116  0 Kommentare Teradata Reports First Quarter 2020 Financial Results

    Teradata Corp. (NYSE: TDC) today announced its first-quarter 2020 financial results. Business trends through the first two-thirds of the quarter were normal, however the second half of March saw a significant number of deals postponed which negatively impacted first-quarter results. Recurring revenue increased 4 percent, 6 percent in constant currency(1), from the first quarter of 2019. Annual recurring revenue (ARR) increased 6 percent, 8 percent in constant currency(1), from the first quarter of 2019. Total first-quarter revenue was $434 million, compared to 2019 first-quarter total revenue of $468 million. As the company continues to shift to a recurring revenue model and focuses its consulting business on higher-margin engagements, both perpetual and consulting revenues declined versus prior year as expected. In addition, currency translation had a 1 percentage point negative impact on the first-quarter total revenue comparison.

    “Teradata is focused on supporting our customers and employees through the COVID-19 pandemic. Our history of fostering strong customer relationships and our long-standing position delivering business essential analytics are foundational to our customers in these challenging times,” said Vic Lund, Interim CEO, Teradata. “Our resilience has been proven as we advance our key strategic initiatives including accelerating our transition to the Cloud, driving broader adoption of Vantage, and expanding our go-to-market opportunities. Our extensive enterprise customer base, mission critical technology, and strong financial condition position us well to emerge stronger from the pandemic.”

    Teradata reported 2020 first-quarter net income of $168 million under U.S. Generally Accepted Accounting Principles (GAAP), or $1.51 per diluted share, which compared to a net loss of $(10) million, or $(0.09) per share, in the first quarter of 2019. As previously disclosed, the company restructured certain of its intellectual property (IP) and recognized a discrete tax benefit in the quarter which contributed $1.41 per diluted share to EPS on a GAAP basis. Non-GAAP 2020 first-quarter net income, which excludes the IP restructuring tax benefit, stock-based compensation expense and other special items, was $30 million, or $0.27 per diluted share, as compared to $26 million, or $0.22 per diluted share, in the first quarter of 2019(2).

    Gross Margin

    2020 first-quarter gross margin reported under GAAP was 51.8 percent versus 47.9 percent for the first quarter of 2019. On a non-GAAP basis, excluding stock-based compensation expense and other special items, 2020 first-quarter gross margin was 54.1 percent, versus 51.5 percent in the prior-year period(2). Gross margin was higher year-over-year due primarily to continued mix shift, away from perpetual hardware and consulting to higher margin recurring revenue.

    Operating Loss / Income

    2020 first-quarter operating loss reported under GAAP was $(6) million which compares to $(5) million in the first quarter of 2019. On a non-GAAP basis, excluding stock-based compensation expense and other special items, 2020 first-quarter operating income was $32 million versus $41 million in the first quarter of 2019(2). The decrease in non-GAAP operating income was primarily driven by revenue-related headwinds due to the impact of COVID-19, as well as ongoing investments related to our go-to-market and Cloud initiatives.

    Income Taxes

    Teradata’s 2020 first-quarter tax rate under GAAP was 1,300.0 percent compared to 0.0 percent in the first quarter of 2019, primarily driven by the recognition of a $157 million tax benefit related to the IP restructuring previously disclosed. Excluding special items, Teradata’s non-GAAP 2020 first-quarter tax rate was negative 25.0 percent versus 27.8 percent in the first quarter of 2019(2).

    Cash Flow

    During the first quarter of 2020, Teradata generated $10 million of cash from operating activities compared to $49 million in the same period of 2019. During the quarter, Teradata used $12 million for capital expenditures and additions to capitalized software development costs, versus using $16 million in the first quarter of 2019. Teradata’s 2020 first-quarter free cash flow was $(2) million, compared to $33 million in the first quarter of 2019(3). The decline in free cash flow year-over-year was primarily driven by over $30 million of delayed cash collections related to COVID-19, the majority of which were collected in April.

    Balance Sheet

    Teradata ended the first quarter 2020 with $394 million in cash. During the first quarter of 2020, Teradata repurchased 3.7 million shares of the Company’s common stock for approximately $75 million. At the end of the first quarter, Teradata had approximately $432 million of board authorization remaining for share repurchases and 108.3 million shares outstanding. However, as a precautionary measure, the Company has suspended its share buyback program due to the ongoing COVID-19 pandemic to help ensure it has appropriate cash levels to support its customers and employees.

    As of March 31, 2020, the Company had total debt of $610 million, including $135 million of outstanding finance lease obligations. There were no funds drawn on the company’s $400 million revolving credit facility as of March 31, 2020.

    Teradata’s Response to COVID-19

    First and foremost, our thoughts are with those who has been impacted by COVID-19, directly or indirectly. The health of our employees, our customers and our communities is paramount in these unprecedented times. As COVID-19 spread rapidly around the world during the first quarter, Teradata took a number of measures to support our customers and protect our employees, including, among other things:

    1. To help limit the spread of the virus, our associates are working from home, we are limiting company travel and have transitioned our marketing events to be entirely virtual;
    2. Our focus is on helping our customers through this pandemic by continuing to deliver the highest levels of performance, availability and peace of mind;
    3. In support of the broader global community, we will also be making some of our technology available for our customers, partners, and communities - particularly in healthcare, government and other verticals where collectively, we can positively impact efforts in combating COVID-19; and
    4. Finally, because the situation is dynamic, we instituted a Pandemic Response Team which will continue to monitor the guidance from leading global health organizations and take the appropriate steps to keep all of our stakeholders safe and healthy.

    Guidance

    Due to the evolving nature and uncertain impact of COVID-19 on Teradata’s operating and financial results, the Company is withdrawing its guidance for the full-year 2020, which was provided on February 6, 2020.

    For the second quarter of 2020, Teradata expects recurring revenue in the range between $348 million and $352 million.

    GAAP loss per share in the second quarter of 2020 is expected to be in the $(0.09) to $(0.06) range. Non-GAAP earnings per share, excluding stock-based compensation expense and other special items, in the second quarter is expected to be in the $0.19 to $0.22 range(2).

    Earnings Conference Call

    A conference call is scheduled today at 2:00 p.m. PT to discuss the Company’s 2020 first-quarter results and provide a business and financial update. Access to the conference call, as well as a replay of the conference call, is available on Teradata’s website at investor.teradata.com.

    Supplemental Financial Information

    Additional information regarding Teradata’s operating results is provided below as well as on Teradata’s website at investor.teradata.com.

    1.

    The impact of currency is determined by calculating the prior-period results using the current-year monthly average currency rates (except for currency impact on ARR which is calculated using month-end rates). See the foreign currency fluctuation schedule on the Investor Relations page of the Company’s web site at investor.teradata.com, which is used to determine revenue on a constant currency (“CC”) basis.

    Revenue

     

    (in millions)

     

     

    For the Three Months ended March 31

    2020

    2019

    % Change as
    Reported

    % Change in
    Constant Currency

    Recurring revenue

    $345

     

    $331

     

    4%

     

    6%

    Perpetual software licenses and hardware

    14

     

    31

     

    (55%)

     

    (55%)

    Consulting services

    75

     

    106

     

    (29%)

     

    (28%)

    Total revenue

    $434

     

    $468

     

    (7%)

     

    (6%)

     

     

     

     

     

     

     

     

    Americas

    $244

     

    $269

     

    (9%)

     

    (9%)

    EMEA

    118

     

    113

     

    4%

     

    6%

    APAC

    72

     

    86

     

    (16%)

     

    (13%)

    Total revenue

    $434

     

    $468

     

    (7%)

     

    (6%)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    As of March 31

     

    2020

     

    2019

     

    % Change as
    Reported

     

    % Change in
    Constant Currency

    Annual recurring revenue (ARR)*

    $1,402

     

    $1,319

     

    6%

     

    8%

    * Annual recurring revenue is defined as the annual value at a point in time of all recurring contracts, including subscription, software upgrade rights, maintenance and managed services.

     

    2.

    Teradata reports its results in accordance with GAAP. However, as described below, the Company believes that certain non-GAAP measures, such as non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, and non-GAAP earnings per diluted share, or EPS, all of which exclude certain items (as well as free cash flow) are useful for investors. Our non-GAAP measures are not meant to be considered in isolation or as substitutes for, or superior to, results determined in accordance with GAAP, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP.

     

    The following tables reconcile Teradata’s actual and projected results and EPS under GAAP to the Company’s actual and projected non-GAAP results and EPS for the periods presented, which exclude certain specified items. Our management internally uses supplemental non-GAAP financial measures, such as gross profit, operating income, net income and EPS, excluding certain items, to understand, manage and evaluate our business and support operating decisions on a regular basis. The Company believes such non-GAAP financial measures (1) provide useful information to investors regarding the underlying business trends and performance of the Company’s ongoing operations, (2) are useful for period-over-period comparisons of such operations and results, that may be more easily compared to peer companies and allow investors a view of the Company’s operating results excluding stock-based compensation expense and special items, (3) provide useful information to management and investors regarding present and future business trends, and (4) provide consistency and comparability with past reports and projections of future results.

     

    Teradata’s reconciliation of GAAP to non-GAAP results included in this release.

     

    For the

    Three Months

    (in millions, except per share data)

    ended March 31

    Gross Profit:

    2020

    2019

    % Chg.

    GAAP Gross Profit

    $225

    $224

    -%

    % of Revenue

    51.8%

    47.9%

     

     

    Excluding:

     

    Stock-based compensation expense

    4

    3

     

    Acquisition, integration, reorganization-related, and other costs

    -

    3

     

     

    Amortization of capitalized software

     

    6

     

    11

     

     

     

    Non-GAAP Gross Profit

    $235

    $241

    (2%)

     

    % of Revenue

    54.1%

    51.5%

     

     

     

    Operating (Loss)

     

     

     

     

     

     

     

    GAAP Operating Loss

    $(6)

    $(5)

    (20%)

     

    % of Revenue

    (1.4%)

    (1.1%)

     

     

     

     

    Excluding:

     

     

    Stock-based compensation expense

    21

    15

     

     

    Amortization of acquisition-related intangible assets

    1

    2

     

     

    Acquisition, integration, reorganization-related, and other costs

    10

    18

     

     

    Amortization of capitalized software

     

    6

     

    11

     

     

     

    Non-GAAP Operating Income

    $32

    $41

    (22%)

     

    % of Revenue

    7.4%

    8.8%

     

     

    Net Income / (Loss)

     

     

     

     

     

     

     

    GAAP Net Income / (Loss)

    $168

    $(10)

    1,780%

     

    % of Revenue

    38.7%

    (2.1%)

     

     

     

     

    Excluding:

     

     

    Stock-based compensation expense

    21

    15

     

     

    Amortization of acquisition-related intangible assets

    1

    2

     

     

    Acquisition, integration, reorganization-related, and other costs

    10

     

    18

     

     

    Amortization of capitalized software

     

    6

     

    11

     

     

     

    IP Restructuring Tax Benefit(1)

     

    (157)

     

    -

     

     

     

    Tax Contingency adjustment(2)

     

    (18)

     

    -

     

     

     

    Income tax adjustments(3)

     

    (1)

     

    (10)

     

     

     

    Non-GAAP Net Income

    $30

    $26

    15%

     

    % of Revenue

     

    6.9%

     

    5.6%

     

     

     

    For the Three Months
    ended March 31

     

     

     

    Earnings Per Share:

    2020

    2019

     

    2020 Q2

    Guidance

     

    GAAP Earnings / (Loss) Per Share

    $1.51

     

    $(0.09)

     

    $(0.09) - $(0.06)

     

     

    Excluding:

     

     

     

    Stock-based compensation expense

    0.19

    0.13

     

    0.25

     

    Amortization of acquisition-related intangible assets

    0.01

    0.02

     

    0.01

     

    Acquisition, integration, reorganization-related, and other costs

    0.09

    0.15

     

    0.03

     

    Amortization of capitalized software

    0.05

     

    0.09

     

    0.05

     

    IP Restructuring tax benefit(1)

    (1.41)

     

    -

     

    -

     

    Tax Contingency adjustment(2)

    (0.16)

     

    -

     

    -

     

    Income tax adjustments(3)

    (0.01)

     

    (0.09)

     

    (0.06)

     

    Impact of dilution(4)

    -

     

    0.01

     

    -

     

    Non-GAAP Diluted Earnings Per Share

    $0.27

    $0.22

     

    $0.19 – $0.22

     

     

    (1)

    The Company’s forecasted full-year 2020 GAAP effective tax rates include $157 million of discrete tax benefit related to an intra-entity asset transfer of certain of its intellectual property to one of its Irish subsidiaries, which occurred on January 1, 2020. The one-time tax benefit for this intra-entity asset transfer was recorded as a deferred tax asset for GAAP reporting purposes in the first quarter of 2020 but was excluded from Non-GAAP results.

     

     

    (2)

    The Company’s forecasted full-year 2020 GAAP marginal effective tax rate includes $3 million of tax expense related to tax contingencies pursuant to FIN 48. For GAAP purposes, this is a component of the marginal rate and is recognized as tax benefit or expense based on the Company’s reported GAAP pre-tax income or loss for the quarter. To more accurately reflect the impact of the expense on a quarterly basis for Non-GAAP purposes, the $3 million of tax expense is being recognized ratably each quarter instead of being included in the marginal effective rate.

     

     

    (3)

    Represents the income tax effect of the pre-tax adjustments to reconcile GAAP to Non-GAAP income based on the applicable jurisdictional statutory tax rate of the underlying item. Including the income tax effect assists investors in understanding the tax provision associated with those adjustments and the effective tax rate related to the underlying business and performance of the Company’s ongoing operations.

     

     

     

    As a result of these adjustments, the Company’s non-GAAP effective tax rate for the first quarter of 2020 was (25.0%) and 27.8% in the first quarter of 2019.

     

     

    (4)

    Represents the impact to earnings per share as a result of moving from basic to diluted shares.

     

    3.

    As described below, the Company believes that free cash flow is a useful non-GAAP measure for investors. Teradata defines free cash flow as cash provided by /used in operating activities less capital expenditures for property and equipment, and additions to capitalized software. Free cash flow does not have a uniform definition under GAAP and therefore, Teradata’s definition may differ from other companies’ definitions of this measure. Teradata’s management uses free cash flow to assess the financial performance of the Company and believes it is useful for investors because it relates the operating cash flow of the Company to the capital that is spent to continue and improve business operations. In particular, free cash flow indicates the amount of cash generated after capital expenditures for, among other things, investment in the Company’s existing businesses, strategic acquisitions, strengthening the Company’s balance sheet, repurchase of the Company’s stock and repayment of the Company’s debt obligations, if any. Free cash flow does not represent the residual cash flow available for discretionary expenditures since there may be other nondiscretionary expenditures that are not deducted from the measure. This non-GAAP measure is not meant to be considered in isolation, as a substitute for, or superior to, results determined in accordance with GAAP, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP.

     

    (in millions)

    For the Three Months

     

     

    ended March 31

     

    2020

    2019

     

     

     

    Cash provided by operating activities (GAAP)

    $10

    $49

     

    Less capital expenditures for:

     

     

     

    Expenditures for property and equipment

    (10)

    (15)

     

    Additions to capitalized software

    (2)

    (1)

     

    Total capital expenditures

    (12)

    (16)

     

    Free Cash Flow (non-GAAP measure)

    $(2)

    $33

     

    Note to Investors

    This news release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements generally relate to opinions, beliefs and projections of expected future financial and operating performance, business trends, and market conditions, among other things. These forward-looking statements are based upon current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially, including the factors discussed in this release and those relating to: the global economic environment and business conditions in general or on the ability of our suppliers to meet their commitments to us, or the timing of purchases by our current and potential customers; the rapidly changing and intensely competitive nature of the information technology industry and the data analytics business; fluctuations in our operating results, including as a result of the pace and extent to which customers shift from perpetual to subscription-based licenses; our ability to realize the anticipated benefits of our business transformation program or other restructuring and cost saving initiatives; risks inherent in operating in foreign countries, including foreign currency fluctuations; risks associated with the evolving nature and uncertain impact of COVID-19 on our business, financial condition and operating results, including the impact of COVID-19 on our customers and suppliers; risks associated with data privacy, cyberattacks and maintaining secure and effective internal information technology and control systems; the timely and successful development, production or acquisition and market acceptance of new and existing products and services; tax rates; turnover of workforce and the ability to attract and retain skilled employees; protecting our intellectual property; availability and successful exploitation of new alliance and acquisition opportunities; recurring revenue may decline or fail to be renewed; the impact on our business and financial reporting from changes in accounting rules; and other factors described from time to time in Teradata’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K and subsequent quarterly reports on Forms 10-Q, as well as the Company’s annual report to stockholders. Teradata does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    About Teradata

    Teradata transforms how businesses work and people live through the power of data. Teradata leverages all of the data, all of the time, so you can analyze anything, deploy anywhere, and deliver analytics that matter. We call this pervasive data intelligence. And it’s the answer to the complexity, cost, and inadequacy of today’s approach to analytics. Get the answer at teradata.com.

    Teradata and the Teradata logo are trademarks or registered trademarks of Teradata Corporation and/or its affiliates in the U.S. and worldwide.

    Schedule A

    TERADATA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
    (in millions, except per share amounts - unaudited)
     
    For the Period Ended March 31
    Three Months

     

    2020

     

     

    2019

     

    % Chg

    Revenue
     
    Recurring

    $

    345

     

    $

    331

     

    4

    %

    Perpetual software licenses and hardware

     

    14

     

     

    31

     

    (55

    %)

    Consulting services

     

    75

     

     

    106

     

    (29

    %)

     
    Total revenue

     

    434

     

     

    468

     

    (7

    %)

     
    Gross profit
     
    Recurring

     

    225

     

     

    225

     

    % of Revenue

     

    65.2

    %

     

    68.0

    %

    Perpetual software licenses and hardware

     

    5

     

     

    6

     

    % of Revenue

     

    35.7

    %

     

    19.4

    %

    Consulting services

     

    (5

    )

     

    (7

    )

    % of Revenue

     

    (6.7

    %)

     

    (6.6

    %)

     
    Total gross profit

     

    225

     

     

    224

     

    % of Revenue

     

    51.8

    %

     

    47.9

    %

     
    Selling, general and administrative expenses

     

    158

     

     

    151

     

    Research and development expenses

     

    73

     

     

    78

     

     
    Loss from operations

     

    (6

    )

     

    (5

    )

    % of Revenue

     

    (1.4

    %)

     

    (1.1

    %)

     
    Other expense, net

     

    (8

    )

     

    (5

    )

     
    Loss before income taxes

     

    (14

    )

     

    (10

    )

    % of Revenue

     

    (3.2

    %)

     

    (2.1

    %)

     
    Income tax benefit

     

    (182

    )

     

    -

     

    % Tax rate

     

    1,300.0

    %

     

    -

     

     
    Net income (loss)

    $

    168

     

    $

    (10

    )

    % of Revenue

     

    38.7

    %

     

    (2.1

    %)

     
    Net income (loss) per common share
    Basic

    $

    1.52

     

    $

    (0.09

    )

    Diluted

    $

    1.51

     

    $

    (0.09

    )

     
    Weighted average common shares outstanding
    Basic

     

    110.3

     

     

    117.1

     

    Diluted

     

    111.3

     

     

    117.1

     

     

    Schedule B

    TERADATA CORPORATION  
    CONDENSED CONSOLIDATED BALANCE SHEETS  
    (in millions - unaudited)  
     
     

    March 31,

    December 31,

    March 31,

     

    2020

     

     

    2019

     

     

    2019

     

    Assets
     
    Current assets
    Cash and cash equivalents

    $

    394

     

    $

    494

     

    $

    723

     

    Accounts receivable, net

     

    448

     

     

    398

     

     

    445

     

    Inventories

     

    28

     

     

    31

     

     

    52

     

    Other current assets

     

    104

     

     

    91

     

     

    82

     

     
    Total current assets

     

    974

     

     

    1,014

     

     

    1,302

     

     
    Property and equipment, net

     

    334

     

     

    350

     

     

    303

     

    Capitalized software, net

     

    30

     

     

    36

     

     

    60

     

    Right of use assets - operating lease, net

     

    49

     

     

    51

     

     

    60

     

    Goodwill

     

    394

     

     

    396

     

     

    396

     

    Capitalized contract costs

     

    87

     

     

    91

     

     

    57

     

    Deferred income taxes

     

    253

     

     

    87

     

     

    66

     

    Other assets

     

    30

     

     

    32

     

     

    42

     

     
    Total assets

    $

    2,151

     

    $

    2,057

     

    $

    2,286

     

     
    Liabilities and stockholders' equity
     
    Current liabilities
    Current portion of long-term debt

    $

    25

     

    $

    25

     

    $

    25

     

    Current portion of finance lease liability

     

    60

     

     

    55

     

     

    21

     

    Current portion of operating lease liability

     

    17

     

     

    20

     

     

    17

     

    Accounts payable

     

    96

     

     

    66

     

     

    99

     

    Payroll and benefits liabilities

     

    86

     

     

    157

     

     

    103

     

    Deferred revenue

     

    555

     

     

    472

     

     

    569

     

    Other current liabilities

     

    67

     

     

    91

     

     

    80

     

     
    Total current liabilities

     

    906

     

     

    886

     

     

    914

     

     
    Long-term debt

     

    448

     

     

    454

     

     

    472

     

    Finance lease liability

     

    75

     

     

    75

     

     

    38

     

    Operating lease liability

     

    37

     

     

    38

     

     

    48

     

    Pension and other postemployment plan liabilities

     

    133

     

     

    137

     

     

    104

     

    Long-term deferred revenue

     

    44

     

     

    61

     

     

    100

     

    Deferred tax liabilities

     

    6

     

     

    6

     

     

    4

     

    Other liabilities

     

    153

     

     

    138

     

     

    139

     

     
    Total liabilities

     

    1,802

     

     

    1,795

     

     

    1,819

     

     
    Stockholders' equity
    Common stock

     

    1

     

     

    1

     

     

    1

     

    Paid-in capital

     

    1,567

     

     

    1,545

     

     

    1,466

     

    Accumulated deficit

     

    (1,050

    )

     

    (1,143

    )

     

    (891

    )

    Accumulated other comprehensive loss

     

    (169

    )

     

    (141

    )

     

    (109

    )

     
    Total stockholders' equity

     

    349

     

     

    262

     

     

    467

     

     
    Total liabilities and stockholders' equity

    $

    2,151

     

    $

    2,057

     

    $

    2,286

     

     

    Schedule C

    TERADATA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in millions - unaudited)
     
    For the Period Ended March 31
    Three Months

     

    2020

     

     

    2019

     

    Operating activities
    Net income (loss)

    $

    168

     

    $

    (10

    )

     
    Adjustments to reconcile net income (loss) to net cash provided
    by operating activities:
    Depreciation and amortization

     

    42

     

     

    37

     

    Stock-based compensation expense

     

    21

     

     

    15

     

    Deferred income taxes

     

    (149

    )

     

    2

     

    Changes in assets and liabilities:
    Receivables

     

    (50

    )

     

    143

     

    Inventories

     

    3

     

     

    (24

    )

    Current payables and accrued expenses

     

    (43

    )

     

    (171

    )

    Deferred revenue

     

    66

     

     

    74

     

    Other assets and liabilities

     

    (48

    )

     

    (17

    )

     
    Net cash provided by operating activities

     

    10

     

     

    49

     

     
    Investing activities
    Expenditures for property and equipment

     

    (10

    )

     

    (15

    )

    Additions to capitalized software

     

    (2

    )

     

    (1

    )

     
    Net cash used in investing activities

     

    (12

    )

     

    (16

    )

     
    Financing activities
    Repurchases of common stock

     

    (73

    )

     

    (56

    )

    Repayments of long-term borrowings

     

    (6

    )

     

    -

     

    Payments of finance leases

     

    (9

    )

     

    (3

    )

    Other financing activities, net

     

    -

     

     

    33

     

     
    Net cash used in financing activities

     

    (88

    )

     

    (26

    )

     
    Effect of exchange rate changes on cash and cash equivalents

     

    (10

    )

     

    1

     

     
    (Decrease) increase in cash, cash equivalents and restricted cash

     

    (100

    )

     

    8

     

    Cash, cash equivalents and restricted cash at beginning of period

     

    496

     

     

    716

     

     
    Cash, cash equivalents and restricted cash at end of period

    $

    396

     

    $

    724

     

     
    Supplemental cash flow disclosure:
    Non-cash investing and financing activities:
    Assets acquired by finance leases

    $

    15

     

    $

    15

     

    Assets acquired by operating leases

    $

    3

     

    $

    3

     

     

    Schedule D

    TERADATA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in millions - unaudited)
     
    For the Three Months Ended March 31

     

    2020

     

     

    2019

     

    % Change
    As
    Reported

    % Change
    Constant
    Currency (2)

    Segment Revenue
     
    Americas

    $

    244

     

    $

    269

     

    (9

    %)

    (9

    %)

    EMEA

     

    118

     

     

    113

     

    4

    %

    6

    %

    APAC

     

    72

     

     

    86

     

    (16

    %)

    (13

    %)

     
     
    Total segment revenue

     

    434

     

     

    468

     

    (7

    %)

    (6

    %)

     
    Segment gross profit
     
    Americas

     

    144

     

     

    157

     

    % of Revenue

     

    59.0

    %

     

    58.4

    %

    EMEA

     

    61

     

     

    50

     

    % of Revenue

     

    51.7

    %

     

    44.2

    %

    APAC

     

    30

     

     

    34

     

    % of Revenue

     

    41.7

    %

     

    39.5

    %

     
    Total segment gross profit

     

    235

     

     

    241

     

    % of Revenue

     

    54.1

    %

     

    51.5

    %

     
    Reconciling items(1)

     

    (10

    )

     

    (17

    )

     
    Total gross profit

    $

    225

     

    $

    224

     

    % of Revenue

     

    51.8

    %

     

    47.9

    %

     
     
    (1) Reconciling items include stock-based compensation, capitalized software, amortization of acquisition-related intangible assets and acquisition, integration and reorganization-related items.
     
    (2) The impact of currency is determined by calculating the prior period results using the current-year monthly average currency rates.
     

     




    Business Wire (engl.)
    0 Follower
    Autor folgen

    Teradata Reports First Quarter 2020 Financial Results Teradata Corp. (NYSE: TDC) today announced its first-quarter 2020 financial results. Business trends through the first two-thirds of the quarter were normal, however the second half of March saw a significant number of deals postponed which …