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Dassault Systemes Reports Growth in Revenue and Earnings for 2008

February 12, 2009

PARIS, BUSINESS WIRE - Regulatory News: Dassault Systemes (DS) (Euronext Paris: #13065, DSY.PA) (Paris:DSY) (NASDAQ:DASTY) reported U.S. GAAP and IFRS unaudited financial results for the fourth quarter and year ended December 31, 2008. These results have been reviewed by the Company's Board of Directors. Commencing with the fiscal year 2009, DS will solely report and publish its financial information in accordance with IFRS as previously disclosed.

Summary Financial Highlights (unaudited)

  • Q4 non-GAAP financial results in line with preliminary announcement
  • 2008 GAAP software revenue up 11% and non-GAAP software revenue up 10%, both in constant currencies on strong growth of recurring software revenue
  • 2008 GAAP EPS up 11% and non-GAAP EPS up 2%
  • Net cash position of EUR 640 million at December 31, 2008
  • DS initiates 2009 financial objectives with growth in revenue and earnings

Fourth Quarter and Full Year 2008 Financial Summary In millions of Euros, except per share data U.S. GAAP Non-GAAP Growth Growth in cc* Growth Growth in cc* Q4 Total Revenue 382.9 5% (1%) 384.4 4% (3%) Q4 Software Revenue 330.8 7% 1% 332.3 5% (1%) Q4 EPS 0.60 (6%) 0.66 (15%) Q4 Operating Margin 26.4% 29.7% In millions of Euros, except per share data U.S. GAAP Non-GAAP Growth Growth in cc* Growth Growth in cc* FY 2008 Total Revenue 1,334.8 6% 9% 1,338.2 5% 8% FY 2008 Software Revenue 1,154.4 9% 11% 1,157.8 7% 10% FY 2008 EPS 1.66 11% 2.02 2% FY 2008 Operating Margin 20.4% 25.6%

Bernard Charles, Dassault Systemes President and Chief Executive Officer, commented, "Looking back at 2008, despite a disappointing fourth quarter caused by the economic crisis, Dassault Systemes ended the fiscal year with growth in revenue and earnings, a high level of recurring software revenue and a strong balance sheet. Thanks to our strategic investments in our product portfolio and sales channels, DS gained one point of market share in 2008.

"We expect 2009 to be a difficult global economic environment in which to operate, but we move into the year with an expanded addressable market, strengthened sales channels, and a richer product portfolio to serve our customers. Moreover, our new Version 6 collaborative platform enables us to bring more flexibility and value to our customers through further coverage of industry processes. We are pleased that a number of companies, across consumer goods, energy, life sciences, high tech, as well as aerospace and automotive, have become strategic partners with DS as we work closely with them to leverage 3D PLM for sustainable product development."

Fourth Quarter 2008 Financial Highlights In millions of Euros U.S. GAAP Non-GAAP Q4 2008 Q4 2007 Growth in cc* Q4 2008 Q4 2007 Growth in cc* Total Revenue 382.9 363.1 (1%) 384.4 371.1 (3%) Software Revenue 330.8 308.3 1% 332.3 316.3 (1%) Services and other revenue 52.1 54.8 (11%) 52.1 54.8 (11%) PLM software revenue 255.8 241.3 0% 257.3 249.3 (3%) Mainstream 3D software revenue 75.0 67.0 4% 75.0 67.0 4% Americas 118.9 106.0 2% 119.2 107.8 0% Europe 178.3 181.4 (2%) 178.8 186.2 (4%) Asia 85.7 75.7 (3%) 86.4 77.1 (4%)

Overall, fourth quarter financial performance reflected an increasingly difficult macroeconomic environment at year-end, leading to contract deferrals and resulting in lower revenue than the Company's objective, affecting both margin and earnings results. The Company noted, however, that subscription renewals continued at a good level. Currency exchange rate changes during the quarter had a net beneficial impact on reported revenue, margin and earnings.