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Teradata reports 23% revenue increase globally

Company increases revenue growth expectations for 2011

Teradata reports 23% revenue increase globally
Teradata has reported a 23% increase in revenue year-over-year for Q3 2011.

Teradata is increasing its expectation for full-year 2011 revenue growth by 19-21% following a reported 23% increase in revenue for Q3 2011 year-over-year.

Teradata Corporation has reported revenue of $602 million for the quarter ended 30th September 2011, increased from $489m in the third quarter of 2010.

Included in Teradata's results reported under US Generally Accepted Accounting Principles (GAAP) for the third quarter of 2011 were special items including $6 million of amortisation of acquisition-related intangible assets; $4 million of transaction, integration and reorganisation costs; $3 million of acquisition-related purchase accounting adjustments; and $8 million of stock-based compensation expense. Included in the prior year quarter's results was $7m of stock-based compensation expense.

Gross margin in the third quarter was 54.5% compared to 57.1% in Q3 2010. Excluding the special items mentioned above, gross margin was 55.4% in Q3 2011, compared to 57.3% in Q3 2010.

In the EMEA region, Teradata's revenue in the Q3 2011 was $133m, up 22% from $109m generated in Q3 2010.

Gross margin in the EMEA region in the third quarter of 2011 was 46.6%, versus 51.4% reported in the third quarter of 2010, primarily due to the greater proportion of consulting revenue as compared to the prior-year period, as well as lower product gross margin due to deal mix and increased amortisation of capitalised software development cost and acquired technology.

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