Dassault Systemes S.A. Announces U.S. GAAP Combined Total Revenue and Combined Net Income.SURESNES, France--(BUSINESS WIRE)--Sept. 17, 1997--Dassault Systemes S.A. (Nasdaq: DASTY) announced today U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). combined total revenue of FF 289 million and combined net income of FF 53 million for the two months ended August 31, 1997. The net income figure includes expenses related to the Company's merger with SolidWorks Corporation, which was completed on July 25, 1997, but does not include the potential impact of the corporate surtax An additional charge on an item that is already taxed. A surtax is a tax on a tax. For example, if a person pays one hundred dollars of tax on one thousand dollars of income, a 5 percent surtax would amount to an additional five dollars. that the French government has announced it intends to impose commencing with the 1997 fiscal year. The SolidWorks merger is being accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. under U.S. GAAP. One of the requirements for pooling of interests accounting is that no affiliate of either combining company may reduce its risk relative to its common shareholder position, including by a sale of its shares, until revenue and net income figures covering at least 30 days of post-merger combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
On September 4, 1997, the Company filed a registration statement with the U.S. Securities and Exchange Commission for a global secondary offering of 3,085,447 shares of its common stock. Of the 3,085,447 shares being offered, 1,560,000 are to be offered by IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) and 1,525,447 are to be offered by certain of the former shareholders of SolidWorks. IBM and certain of the former SolidWorks shareholders have also granted the underwriters an option to purchase up to an additional 234,000 and 227,786 shares, respectively, to cover over-allotments in connection with the offering. The Company's announcement of its U.S. GAAP combined total revenue and combined net income for the two-months ended August 31, 1997 is to comply with, prior to the sale of the 3,085,447 Shares, the publication requirement of at least 30 days of post-merger combined operations. Under French GAAP, pooling of interests is not a recognized accounting principle. As a result, under French GAAP, the Company will consolidate in its financial statements the results of operations of SolidWorks effective with the July 25, 1997 merger date. Dassault Systemes Dassault Systemes (Dassault Systèmes S.A.) (Pronounced - Dasoh) (NASDAQ: DASTY; Euronext: 13065) is a leading company specializing in 3D and PLM (Product Lifecycle Management) software. S.A. is a leading software developer for the CAD/CAM/CAE/PDM market. Its products provide users with both process-centric and design-centric solutions for their product development needs. The Company's product portfolio consists of 120 CATIA-CADAM products as well as its newly-acquired SolidWorks software, and the Company's customer base totals over 9,000 CATIA- CADAM A full-featured IBM mainframe CAD application, which includes 3D capability, solid modeling and numerical control. Originally developed by Lockheed for internal use, it was distributed by IBM starting in the late 1970s. In 1989, IBM purchased the Lockheed subsidiary, CADAM, Inc. and 3,000 SolidWorks customers and over 100,000 CATIA-CADAM and 6,500 SolidWorks seats. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these shares has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to by be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. A copy of the preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders may be obtained in the United States from Morgan Stanley Dean Witter at 1585 Broadway, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York, telephone (212) 761-6775, and in Europe from Morgan Stanley Dean Witter at 25 Cabot Square, Canary Wharf, London, telephone (44- 171) 425-6101. CONTACT: Dassault Systemes S.A. Thibault de Tersant Executive Vice President, Finance and Administration 33.1.40.99.40.04 or Didier Gaillot Controller 33.1.40.99.44.20 or Lynn Morgen/Michele Katz/ Jessica Davis Press: Brian Maddox/Estelle Bieber Morgen-Walke Associates, Inc. 212-850-5600 or Caroline Bruel Press: Madeleine Resener Morgen-Walke Europe S.A. 33.1.47.03.68.10 |
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