Stock Monitor: NetApp Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 14, 2017 / Active-Investors free earnings report on Teradata Corp. (NYSE: TDC) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=TDC. Teradata reported its third quarter fiscal 2017 operating results on November 02, 2017. The data management Company's recurring revenue grew 8%, while Annual Recurring Revenue (ARR) advanced 10%. Register today and get free access to our complimentary member's area where many more reports are available:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for NetApp, Inc. (NASDAQ: NTAP), which also belongs to the Technology sector as the Company Teradata. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=NTAP
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Teradata most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/?symbol=TDC
Earnings Highlights and Summary
Teradata reported revenue of $526 million for the quarter ended September 30, 2017, compared to $552 million in Q3 2016. The Company's revenue numbers topped analysts' estimates of $510.5 million.
During Q3 2017, Teradata's total recurring revenue of $267 million increased 8% on a y-o-y basis, while recurring product revenue of $82 million increased 14% on a y-o-y basis. In addition, the Company's total ARR advanced 10% on a y-o-y basis, while product ARR (which excludes maintenance) jumped 23%.
For Q3 2017, Teradata's operating income was $7 million compared to $89 million in Q3 2016. On a non-GAAP basis, excluding stock-based compensation expense and special items, the Company's operating income was $50 million in the reported quarter versus $121 million in the year-ago same period. The y-o-y drop in non-GAAP operating income was attributed to the Company's investment in transformation initiatives as well as lower revenue in large part due to customers selecting Teradata's subscription-based purchasing options where revenue is recognized over time rather than upfront at the time of purchase.
Teradata reported GAAP net income of $13 million, or $0.10 per diluted share, in Q3 2017, which compared to $49 million, or $0.37 per share, in Q3 2016. Stock-based compensation expense and special items reduced Teradata's reported quarter net income by $23 million, or $0.19 per diluted share. Excluding stock-based compensation expense and special items, the Company's non-GAAP net income in the reported quarter was $36 million, or $0.29 per diluted share, versus $91 million or $0.69 per diluted share in the prior year's comparable period. Teradata's earning figures beat Wall Street's estimates of $0.21 per share.
Cash Flow
During Q3 2017, Teradata used $8 million of cash from operating activities compared to generating $45 million of cash in the prior year's same period. Teradata used $40 million of free cash flow in the reported quarter compared to generating $12 million in the year-ago corresponding period. During Q3 2017, Teradata used cash to support its subscription and cloud initiatives as well as for workforce optimization activities. On a year-to-date basis, Teradata generated $235 million of free cash flow in 2017 compared to $308 million in the same period in 2016.
Balance Sheet
Teradata ended Q3 2017 with $1.03 billion in cash, which was substantially all held outside the United States. During the reported quarter, the Company used $200 million to repurchase 6.3 million shares.
As of September 30, 2017, Teradata had total debt of approximately $728 million, including $548 million outstanding on a term loan and $180 million of borrowings under its $400 million revolving credit facility.
Outlook
For the fourth quarter of 2017, Teradata is forecasting revenue to be in the range of $600 million to $620 million. For the full year 2017, Teradata expects reported revenue to decline approximately 5%, which compared favorably to its prior guidance that revenue was expected to decline 5% to 7% for FY17.
Stock Performance Snapshot
December 13, 2017 - At Wednesday's closing bell, Teradata's stock marginally advanced 0.96%, ending the trading session at $38.91.
Volume traded for the day: 2.48 million shares, which was above the 3-month average volume of 1.29 million shares.
Stock performance in the last month – up 8.60%; previous three-month period – up 21.37%; past twelve-month period – up 35.95%; and year-to-date – up 43.21%
After yesterday's close, Teradata's market cap was at $4.88 billion.
Price to Earnings (P/E) ratio was at 78.45.
The stock is part of the Technology sector, categorized under the Data Storage Devices industry. This sector was up 0.3% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
