Dassault Systemes S.A.’s (Dassault) 1Q 09 top-line remained flat y-o-y, led by marginal growth reported in its Software segment on account of economic conditions having impacted the uptake of new licenses. Operating and net income declined significantly on account of higher cost of operations and tax charges. Despite lower-than-estimated 1Q 09 results, we maintain our BUY rating for the common stock…

Dassault’s share in the Product Lifecycle Management (PLM) end user software market grew to nearly 26% in 2008, with more than 15,000 new customers added across different industries and countries. PLM’s CATIA and ENOVIA products remain the key driver for the expansion of the company’s reach into new verticals and new domains. Dassualt has in the past made efforts to enhance its sales channels in order to reach different geographies…

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On 16 January 2009, Dassault Systemes S.A. (Dassault) released its preliminary non-US GAAP 4Q 08 & FY 2008 results. The final results are expected to fall short of both Management’s and our expectations, as outlined in our 3Q 08 update report, dated 10 December 2008. This is attributable to clients delaying the finalization of contracts in light of the uncertain and sluggish global macroeconomic climate…