DASTY Dassault Systems Inc (PK)

By David Sachs

Dassault Systemes SE shares were down Wednesday after the company reported lower first-quarter adjusted operating margin, and said it targets a lower adjusted margin for the current quarter.

At 0934 GMT, the French software company's shares were down 8.2% at EUR34.35.

The company said non-IFRS operating profit was 444.8 million euros ($488.2 million) in the first quarter, down from EUR464.0 million in last year's first quarter.

Dassault's non-IFRS operating margin fell to 31% from 35%. Dassault said it is targeting a non-IFRS operating margin of 30%-30.5% in the second quarter, and still expects an annual margin of between 32.3% and 32.6%.

Dassault raised its revenue guidance range to between EUR5.94 billion and EUR5.99 billion, above a previous range of EUR5.93 billion and EUR5.98 billion.

Dassault, like other European software companies, presents its figures as two sets of numbers. One set is based on the International Financial Reporting Standards--an international accounting method that seeks to provide a global reporting standard--though analysts and investors tend to follow non-IFRS numbers. Those figures exclude share-based compensation, restructuring expenses and acquisition-related charges.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

April 26, 2023 05:58 ET (09:58 GMT)

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