Teradata Corp. (NYSE: TDC) reported revenue of $628 million for the quarter ended March 31, 2014, an increase of 7 percent from $587 million in the first quarter of 2013. Revenue in the first quarter increased 8 percent when compared in constant currency. Gross margin was 53.0 percent, as reported under U.S. Generally Accepted Accounting Principles (GAAP), versus 52.0 percent in the first quarter of 2013. On a non-GAAP basis, excluding stock-based compensation expense and other special items, gross margin was 54.9 percent, an increase from 53.3 percent in the first quarter of 2013. Teradata reported first quarter net income of $59 million, or $0.37 per diluted share, which compared to net income of $59 million, or $0.35 per diluted share, in the first quarter of 2013. Stock-based compensation expense and other special items reduced Teradata’s first quarter net income by $28 million (or 17 cents of EPS) as reported under GAAP. Excluding stock-based compensation expense and the other special items detailed in footnote #2, non-GAAP net income in the first quarter of 2014 was $87 million, or $0.54 per diluted share, versus $73 million, or $0.43 per diluted share, in the first quarter of 2013. “Teradata had a good first quarter with 7 percent revenue growth and 26 percent non-GAAP EPS growth; and set records for first quarter new customer wins and free cash flow,” said Mike Koehler, president and chief executive officer, Teradata Corporation.
