SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2002
DASSAULT SYSTEMES S.A.
----------------------
(Exact Name of Registrant as Specified in its Charter)
9, Quai Marcel Dassault, B.P. 310, 92156 Suresnes Cedex, France
---------------------------------------------------------------
(Address of Registrant's Principal Executive Office)
(Indicate by check mark whether the Registrant files or will file annual
reports under cover of Form 20-F or Form 40-F)
Form 20-F X Form 40-F
--- ---
(Indicate by check mark whether the Registrant, by furnishing the
information contained in this Form, is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934)
Yes No X
--- ---
(If "Yes" is marked, indicate below the file number assigned
to the Registrant in connection with
Rule 12g3-2(b): ______)
ENCLOSURE:
Dassault Systemes S.A. (the "Company") is furnishing under cover of
Form 6-K two press releases dated October 23, 2002, the first announcing its
third quarter and nine-month revenues, and reaffirming its fourth quarter and
full year revenues, the second announcing that Pratt & Whitney Canada has
selected an IBM Product Lifecycle Management Solution to develop new engines
using digital technology.
[DASSAULT LOGO]
FOR IMMEDIATE RELEASE:
DASSAULT SYSTEMES (3DS.COM) REPORTS THIRD QUARTER REVENUE DECREASES 2% TO
(EURO)175.9 MILLION; NINE-MONTH REVENUE INCREASES 6% TO (EURO)549.7 MILLION
o ON A CONSTANT EXCHANGE RATE BASIS, REVENUE UP 3% AND 8% FOR THE THREE-
AND NINE-MONTH PERIODS, RESPECTIVELY
o PDM REVENUE GREW BY 32% IN THIRD QUARTER
o FOURTH QUARTER REVENUE AND OPERATING MARGIN OBJECTIVES REMAIN UNCHANGED
o REAFFIRMING FULL YEAR 2002 OBJECTIVES OF REVENUE GROWTH OF 4% AND
OPERATING MARGIN OF 27-28%
o TARGETING STABLE OPERATING MARGIN IN 2003 ON CONSERVATIVE REVENUE
GROWTH OBJECTIVE OF APPROXIMATELY 2-3%
PARIS, FRANCE, October 23, 2002 -Dassault Systemes (DS) (Nasdaq: DASTY; Euronext
Paris: #13065, DSY PA), a worldwide leading software developer of product
lifecycle management (PLM) solutions, today reported financial results for the
third quarter and nine months ended September 30, 2002 and reaffirmed fourth
quarter and full year revenue and operating margin objectives.
Acquisition costs include goodwill, technology amortization and other related
costs. All financial figures in this press release are before these acquisition
costs unless otherwise noted. Amortization of goodwill has ceased effective
December 31, 2001. All financial information is unaudited and reported in
accordance with US generally accepted accounting principles (US GAAP). In
addition, all comparative figures are given on a year over year basis unless
specified otherwise.
FINANCIAL HIGHLIGHTS
Third Quarter
-------------
Total revenue in the third quarter was (Euro)175.9 million, representing a
decrease of 2% compared to total revenue of (Euro)178.8 million in the 2001
third quarter. On a constant currency basis, total revenue increased 3%.
Software revenue, representing 85% of total revenue, decreased 4% to (Euro)149.5
million, while services and other revenue, representing 15% of total revenue,
increased 12% to (Euro)26.4 million in the 2002 third quarter. Recurring
software revenue was 52% of total software revenue in the 2002 third quarter.
Seats licensed in the quarter totaled 12,606, with 7,132 CATIA and 5,474
SolidWorks seats.
Process-centric revenue, including PDM revenue, totaled (Euro)145.5 million in
the third quarter of 2002, broadly flat with the year-ago period (2001:
(Euro)146.0 million) and represented 83% of total revenue. On a stand-alone
basis, PDM revenue led by strong growth in both software and service revenues,
increased 32% to (Euro)19.6 million, up from (Euro)14.9 million in the third
quarter of 2001 and accounted for 11% of total revenue in the 2002 third
quarter. PDM software end-user revenue totaled (Euro)27.6 million.
Design-centric revenue, representing 17% of total revenue, decreased 7% to
(Euro)30.4 million, compared to (Euro)32.8 million in the year-ago quarter.
Net income excluding acquisition costs was (Euro)24.3 million or (Euro)0.21 per
share in the 2002 third quarter, a decrease of 16% on a per share basis compared
to (Euro)28.3 million or (Euro)0.25 per share in the year-ago quarter. On a US
GAAP basis, which includes acquisition costs, net income increased 46% to
(Euro)22.0 million or (Euro)0.19 per share in the third quarter of 2002 compared
to (Euro)15.1 million or (Euro)0.13 per share in the 2001 third quarter. The
Company had a strong balance sheet with no long-term debt and cash and
short-term investments totaling (Euro)397.3 million at September 30, 2002.
Nine Months
-----------
For the 2002 nine-month period, total revenue increased 6% to (Euro)549.7
million, compared to (Euro)520.8 million in the respective 2001 period. On a
constant currency basis, total revenue increased 8% for the nine months ended
September 30, 2002. Net income excluding acquisition costs decreased 7% to
(Euro)82.8 million or (Euro)0.71 per share, compared to (Euro)89.2 million or
(Euro)0.77 per share in the comparable 2001 period. On a US GAAP basis, which
includes acquisition costs, net income was (Euro)75.0 million or (Euro)0.64 per
share for the nine months ended September 30, 2002, up 60% compared to
(Euro)46.6 million or (Euro)0.40 per share in the year-ago nine-month period.
Year-to-date, 41,718 seats were licensed, comprising 24,112 CATIA and 17,606
SolidWorks seats.
Process-centric revenue, including PDM revenue, increased 7% for the first nine
months of 2002 to (Euro)454.2 million (2001:(Euro)426.6 million). PDM revenue on
a stand-alone basis increased 22% to
(Euro)51.8 million (2001:(Euro)42.6 million) and Design-centric revenue
increased 1% to(Euro)95.5 million (2001:(Euro)94.2 million).
Charles Edelstenne, Chairman of DS, stated, "Business conditions continue to be
tough around the world. While DS is clearly not immune, our market leadership
and winning brands, high level of recurring revenues and strong financial
position have enabled us to show results that are comparatively better than most
of our industry."
Bernard Charles, President and Chief Executive Officer, commented, "We continued
to make very solid progress on our strategic initiatives in PLM. Our PDM
business has performed well throughout the year and this quarter was no
exception. Led by ENOVIA, PDM revenue grew by 32%, exceeding our expectations.
The introduction of new sales channels at SmarTeam is on track with IBM and
SolidWorks, and is starting to ramp up. Digital manufacturing, with DELMIA, had
a good quarter as customers continue to realize the significant benefits of our
digital manufacturing software. Turning to CATIA, V5 sales continued to
strengthen with new and long-standing customers and represented two-thirds of
CATIA seats licensed in the quarter. The upcoming V5 Release 10 will further
improve the entry PLM capabilities as well as performance and scalability for
large accounts. And IBM continues to ramp up resources in accordance with our
joint growth plan for addressing the significant opportunities in the PLM
market. In summary, in spite of the sudden slowdown we encountered this quarter
due to the economic environment, I believe we are positioned to increase our
number one market share position in PLM during 2002."
"The design-centric market has been more affected than our 3D PLM businesses by
the weakness in business spending, as it is mostly focused on small and
medium-sized companies. When economies around the world improve, we believe
these same companies are likely to commence investment spending at the initial
stages of a recovery. Based upon SolidWorks market leadership and robust
software which is heavily used in production, we believe SolidWorks is
well-positioned to be an early beneficiary of an improving business
environment."
Thibault de Tersant, Executive Vice President and CFO, commented, "Revenues came
in modestly below that of the year-ago quarter, reflecting the weaker economic
environment as well as the
impact of the significant currency fluctuations and our new growth plan with IBM
announced in July. In combination, currency changes and the new IBM royalty
agreement resulted in a revenue reduction of approximately (Euro)13 million
without which revenue would have increased by 6% during the third quarter.
"As we look to the fourth quarter, we are reaffirming the objective that we
provided to the market in late September, where we stated that total revenue
could equal or slightly exceed 2001 fourth quarter revenue of (Euro)225 million.
On the expense side we are working diligently to monitor and manage our costs in
order to maintain our operating margin at a stable level. We are meeting with
good success here and believe our efforts position us to achieve an operating
margin of approximately 36% in the fourth quarter, unchanged from the fourth
quarter of 2001. In summary, we believe we are on target to meet our full year
objectives of revenue growth of approximately 4% and an operating margin of
approximately 27-28%.
"We are taking a very conservative posture with respect to 2003 at this point in
time. We anticipate that current business conditions will persist through next
year and as a result, our number one financial goal is focused on delivering a
stable operating margin within an environment of modest annual revenue growth of
2-3% for the Company."
NEW PRODUCT LAUNCHES
SOLIDWORKS, THE LEADING COMPANY IN THE DESIGN-CENTRIC MARKET, introduced
SolidWorks 2003 to enable companies to significantly reduce design time, improve
accuracy and bring products to market faster. Enhancements in SolidWorks 2003
will help users analyze the structural integrity of their designs, communicate
design information easily to others, locate downloadable parts via online
supplier catalogs and accelerate the design process with new modeling features.
SMARTEAM, A KEY COMPONENT OF DS'S PDM STRATEGY, announced SmartBom Version 2.0,
a collaborative Bill of Materials management solution. SmartBom 2 provides a
comprehensive solution for electronic Bill of Materials creation, modification,
comparison and exchange within the
enterprise and across the supply chain. This new release enables manufacturers
to easily manipulate product structure and incorporate their suppliers and OEM
vendors into the various engineering change processes in a simple format,
thereby driving greater market responsiveness and profitability.
Smarteam launched Smarteam for Electronics, a product information collaborative
solution designed to coordinate product development between engineers,
subcontractors, suppliers and customers in the Electrical and Electronics
sector.
Smarteam introduced SmartGateway 2.0, a solution facilitating the bi-directional
exchange of mission-critical enterprise data and processes. This new release
expands SMARTEAM EAI connectivity, through universal standards to a broad range
of enterprise systems.
SPATIAL, A MARKET-LEADING PROVIDER OF WORLD-CLASS 3D SOFTWARE COMPONENTS
announced the release of several new products during the third quarter of 2002.
In the area of interoperability, Spatial introduced 3D InterOpExchange and 3D
Viz Exchange designed to provide the tools necessary to read and/or write
standard and key 3D formats for any applications. 3D ACIS PHL (Precise Hidden
Line) V5 was released, and is designed to allow Spatial's ACIS partners to
create fast, accurate 2D hidden line drawings of 3D models.
ADDITIONAL HIGHLIGHTS
DS jointly with Airbus, a leading aircraft manufacturer, announced that Airbus
has completed the first phase of a plan to streamline product development using
CATIA V5. In less than 18 months, more than 50% of Airbus CAD activity migrated
to CATIA. The second phase of the project is underway and includes the
installation of over 2,000 CATIA V5 seats and the integration of Airbus's entire
design, development and manufacturing processes.
Electrolux Group, the world's largest producer of powered appliances for
kitchen, cleaning and outdoor use, has selected CATIA V5 for the design,
analysis and manufacture of its products.
Electrolux will license 700 CATIA V5 seats. DS also announced that Electrolux
has completed the installation of Smarteam at its United State's manufacturing
facility.
DS and ImpactXoft announced a strategic partnership to deliver advanced design
collaborative and functional modeling solutions for 3D PLM. Initial deliveries
will target process-centric applications for Electrical and Electronics,
Consumer Goods and Industrial Machinery. The alliance includes the signing of a
CAA V5 original software developer agreement. ImpactXoft is a private software
company introducing innovative applications that change the way people and
companies develop products.
CONFERENCE CALL INFORMATION:
The Company will host a teleconference call today at 4:00 PM CET/3:00 PM London/
10:00 AM New York. The conference call will be available via the Internet by
accessing www.3ds.com . A replay of the conference call will be available until
November 22, 2002 via the Internet by accessing www.3ds.com.
Statements above that are not historical facts but express expectations or
objectives for the future, including but not limited to statements regarding the
Company's objectives for the fourth quarter 2002 revenue and operating margin,
and 2002 revenue growth and operating margin and revenue growth in 2003, are
forward-looking statements (within the meaning of Section 27A of the Securities
Act of 1933, as amended). Such forward-looking statements are based on
management's current views and assumptions and involve known and unknown risks
and uncertainties. Actual results or performances may differ materially from
those in such statements due to, among other factors: (i) currency fluctuations,
(ii) global economic conditions, (iii) market demand for our products and
services, (iv) new product developments and technological changes, and (v), our
ability to recruit and retain skilled personnel. Unfavorable changes in any of
the above or other factors described in the Company's SEC reports, including the
Form 20F for the year ended December 31, 2001, which was filed with the SEC on
June 20, 2002, could materially affect the Company's financial position or
results of operations.
ABOUT DASSAULT SYSTEMES
As world leader in PLM (Product Lifecycle Management) solutions, the Dassault
Systemes group brings value to more than 55,000 customers in 80 countries. A
pioneer in the 3D software market since 1981, Dassault Systemes develops and
markets PLM application software and services that support industrial processes
and provide a 3D vision of the entire life cycle of products from conception to
retirement. Its offering includes 3D PLM integrated solutions for product
development (CATIA, ENOVIA, DELMIA, SMARTEAM), 3D solutions (SolidWorks), and 3D
components (SPATIAL). Dassault Systemes is listed on the Nasdaq (DASTY) and
Euronext Paris (#13065, DSY.PA) stock exchanges. For more information, visit
http://www.3ds.com.
(Tables to follow)
DASSAULT SYSTEMES
KEY FIGURES
(in millions of Euro, except per share data)
3RD QUARTER
-----------
Percentage
3Q02 3Q01 Variance
________ ________ ______________
Process-Centric 145.5 146.0 (0.3)%
Process-Centric Excluding PDM 125.9 131.1 (4.0)%
PDM 19.6 14.9 31.5%
Design-Centric 30.4 32.8 (7.3)%
Revenue 175.9 178.8 (2)%
AMERICAS 52.6 53.7 (2)%
EUROPE 79.0 88.9 (11)%
ASIA 44.3 36.2 22%
Operating Income 38.8 48.2 (20)%
Operating Margin 22.1% 27.0%
Net Income 24.3 28.3 (14)%
EPS excluding acquisition costs 0.21 0.25 (16)%
Closing Headcount 3,905 3,745 4%
DASSAULT SYSTEMES
CONSOLIDATED STATEMENT OF INCOME DATA
(in millions of Euro, except per share data)
THREE MONTHS ENDED NINE MONTHS ENDED
September 30, September 30, September 30, September 30,
2002 2001 2002 2001
---------------- --------------- ----------------- -----------------
Revenue
Software 149.5 155.3 475.5 451.3
Services and Other 26.4 23.5 74.2 69.5
---------------- --------------- ----------------- -----------------
Total Revenue (Euro)175.9 (Euro)178.8 (Euro)549.7 (Euro)520.8
Cost of Revenue
Software 6.3 4.9 18.0 15.0
Service and Other 23.9 19.8 68.2 58.2
---------------- --------------- ----------------- -----------------
Total Cost of Revenue (Euro)30.2 (Euro)24.7 (Euro)86.2 (Euro)73.2
Gross Profit (Euro)145.7 (Euro)154.1 (Euro)463.5 (Euro)447.6
Research, Selling,
Administrative and
Acquisition Expenses
Research and Development 53.5 51.5 167.0 152.0
Marketing and Sales 41.4 43.6 128.7 123.2
General Administration 12.0 10.8 37.2 32.5
Acquisition Costs 2.5 13.6 9.0 45.2
---------------- --------------- ----------------- -----------------
Total Research, Selling,
Administration and
Acquisition Expenses (Euro)109.4 (Euro)119.5 (Euro)341.9 (Euro)352.9
================ ============== ================= =================
Operating Income (Euro)36.3 (Euro)34.6 (Euro)121.6 (Euro)94.7
Financial Revenue and Other 0.7 (1.0) 4.6 9.8
Income Before Income Taxes 37.0 33.6 126.2 104.5
Income Tax Expense (15.0) (18.5) (51.2) (57.9)
---------------- --------------- ----------------- -----------------
Net Income (Euro)22.0 (Euro)15.1 (Euro)75.0 (Euro)46.6
================ ============== ================= =================
Basic Net Income Per Share (1) (Euro)0.19 (Euro)0.13 (Euro)0.66 (Euro)0.41
================ ============== ================= =================
Diluted Net Income Per Share (1) (Euro)0.19 (Euro)0.13 (Euro)0.64 (Euro)0.40
================ ============== ================= =================
Basic Weighted Average Shares
Outstanding (In Millions) 114.2 113.9 114.1 113.6
================ ============== ================= =================
Diluted Weighted Average Shares
Outstanding (In Millions) 115.0 115.1 116.8 116.5
(1) Excluding acquisition costs, operating income and net income would have been as follows:
Operating Income (Euro)38.8 (Euro)48.2 (Euro)130.6 (Euro)139.9
================ ============== ================= =================
Net Income (Euro)24.3 (Euro)28.3 (Euro)82.8 (Euro)89.2
================ ============== ================= =================
Diluted net income per share (Euro)0.21 (Euro)0.25 (Euro)0.71 (Euro)0.77
================ ============== ================= =================
DASSAULT SYSTEMES
CONSOLIDATED STATEMENT OF INCOME DATA
PERCENTAGE VARIANCE
(EXCLUDING ACQUISITION COSTS)
(in millions of Euro, except per share data)
Excluding acquisition costs, the consolidated statements of income data would have been as follows:
Three Months Ended
September 30, September 30, Variation
2002 2001 %
----------------- ------------------ -------------
Revenue
Software 149.5 155.3 (3.7)%
Services and Other 26.4 23.5 12.3%
----------------- ------------------
Total Revenue (Euro)175.9 (Euro)178.8 (1.6)%
Cost of Revenue
Software 6.3 4.9 28.6%
Service and Other 23.9 19.8 20.7%
----------------- ------------------
Total Cost of Revenue (Euro)30.2 (Euro)24.7 22.3%
Gross Profit (Euro)145.7 (Euro)154.1 (5.5)%
Research, Selling, Administrative
Research and Development 53.5 51.5 3.9%
Marketing and Sales 41.4 43.6 (5.0)%
General Administration 12.0 10.8 11.1%
----------------- ------------------
Total Research, Selling, Administration (Euro)106.9 (Euro)105.9 0.9%
================= ================== =============
Operating Income (Euro)38.8 (Euro)48.2 (19.5)%
Financial Revenue and Other 0.7 (1.0) N/S
Income Before Income Taxes 39.5 47.2 (16.3)%
Income Tax Expense (15.2) (18.9) N/S
Net Income (Euro)24.3 (Euro)28.3 (14.1)%
================= ================== =============
Diluted Net Income Per Share (Euro)0.21 (Euro)0.25 (16.0)%
================= ================== =============
Diluted Weighted Average Shares
Outstanding (In Millions) 115.0 115.1
DASSAULT SYSTEMES
CONSOLIDATED STATEMENT OF INCOME DATA
PERCENTAGE VARIANCE
(EXCLUDING ACQUISITION COSTS)
(in millions of Euro, except per share data)
Excluding acquisition costs, the consolidated statements of income data would have been as follows:
Nine Months Ended
September 30, September 30, Variation
2002 2001 %
----------------- ----------------- -------------
Revenue
Software 475.5 451.3 5.4%
Services and Other 74.2 69.5 6.8%
----------------- -----------------
Total Revenue (Euro)549.7 (Euro)520.8 5.5%
Cost of Revenue
Software 18.0 15.0 20.0%
Service and Other 68.2 58.2 17.2%
----------------- -----------------
Total Cost of Revenue (Euro)86.2 (Euro)73.2 17.8%
Gross Profit (Euro)463.5 (Euro)447.6 3.6%
Research, Selling, Administrative
Research and Development 167.0 152.0 9.9%
Marketing and Sales 128.7 123.2 4.5%
General Administration 37.2 32.5 14.5%
----------------- -----------------
Total Research, Selling, Administration (Euro)332.9 (Euro)307.7 8.2%
================= ================= =============
Operating Income (Euro)130.6 (Euro)139.9 (6.6)%
Financial Revenue and Other 4.6 9.8 (53.1)%
Income Before Income Taxes 135.2 149.7 (9.7)%
Income Tax Expense (52.4) (60.5) N/S
Net Income (Euro)82.8 (Euro)89.2 (7.2)%
================= ================= =============
Diluted Net Income Per Share (Euro)0.71 (Euro)0.77 (7.8)%
================= ================= =============
Diluted Weighted Average Shares
Outstanding (In Millions) 116.8 116.5
DASSAULT SYSTEMES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions of Euro)
September 30, 2002 December 31, 2001
------------------ -----------------
ASSETS
Cash and short-term investments 397.3 369.2
Accounts receivable, net 162.7 217.3
Other assets 280.1 244.9
------------------ -----------------
TOTAL ASSETS (Euro)840.1 (Euro)831.4
LIABILITIES
AND SHAREHOLDERS' EQUITY
Total liabilities 258.3 280.5
Shareholders' equity 581.8 550.9
------------------ -----------------
Total Liabilities and Shareholders' Equity (Euro)840.1 (Euro)831.4
CONTACT:
DASSAULT SYSTEMES: FD INTERNATIONAL:
Didier Gaillot/Valerie Agathon Harriet Keen/Emma Rutherford
Vice President, Corporate Finance 44.20.7831.3113
33.1.40.99.69.24 33.1.40.99.69.24
Jean-Benoit Roquette/Ronald Dassa
Nelly Dimey/Lorie Lichtlen
33.1.47.03.68.10
Deborah Ardern-Jones
1.212.497.9202
Pratt & Whitney Canada Selects IBM and
Dassault Systemes for Innovative Digital Engine Program
IBM Product Lifecycle Management solution featuring
CATIA - ENOVIA from Dassault Systemes will be platform
for ambitious aerospace initiative based on e-collaboration
Montreal, Canada and Paris, France - October 23, 2002 - IBM and Dassault
Systemes (Nasdaq: DASTY, Euronext Paris: #13065, DSY.PA) today announced that
Pratt & Whitney Canada has selected an IBM Product Lifecycle Management Solution
centered on CATIA V5, ENOVIAVPM, and ENOVIA 3d com from Dassault Systemes to
develop new engines using digital technology. The agreement calls for IBM and
Dassault Systemes to deliver 200 CATIA V5 seats by the end of 2002, and up to
300 more in 2003.
Through its Digital Engine initiative, Pratt & Whitney Canada's goal is to
become the first company in the aerospace industry to develop engines using
digital technology throughout the entire design and manufacturing process. The
agreement also requires IBM to deliver Dassault Systemes' ENOVIAVPM and ENOVIA
3d com product data management solutions to enable e-collaboration throughout
Pratt & Whitney's engineering and product support functions. The CATIA - ENOVIA
Solution will ensure that Pratt & Whitney Canada customers, partners, suppliers,
and employees will be able to interact and collaborate in the 3D design process
of its engines.
"We have partnered with IBM and Dassault Systemes for earlier versions of
CATIA-based systems to design engines and simulate performance with great
success," said Amal Girgis, Chief Information Officer, Pratt & Whitney Canada.
"Upgrading to the newest version of CATIA will certainly help us to reach the
efficiency goals of the Digital Engine initiative much faster. The deployment is
on schedule with more than 80 CATIA V5 seats installed and in use today."
Launched in 2001, the Digital Engine represents one of the major
components of Pratt & Whitney Canada's broader Digital Enterprise program
scheduled to last three to five years. It will enable designers to work on
engines concurrently in a virtual environment with other project stakeholders.
Using PLM solutions from IBM and Dassault Systemes, the company will soon be
able to link remaining components of the Digital Enterprise initiative,
including Enterprise Resource Planning (ERP), Supply Chain Management (SCM) and
Customer Relationship Management (CRM).
"E-collaboration is playing a critical role in making companies more competitive
and IBM's product lifecycle management solutions are a major part of this
competitive advantage, delivering improvements in development costs, quality,
and time to market," said Tom Kilkenny, vice president, IBM Product Lifecycle
Management Americas. "With new cost pressures and speed-to-market taking on even
greater importance within the aerospace industry, Pratt & Whitney Canada's drive
to bring real-time access to information through the full product life cycle
will further help to provide a competitive advantage moving forward."
"CATIA V5 delivers cutting-edge technology and incomparable ease of use, and
combined with ENOVIA, contributes to rapid market response in sectors such as
the aerospace
industry where shortening product development cycles is critical," said Philippe
Forestier, executive vice president, Sales and Marketing, Dassault Systemes. "We
are delighted to see that our 3D PLM solutions bring immediate benefits and help
Pratt & Whitney Canada accelerate the drive toward its world-class, Digital
Enterprise vision."
###
About Pratt & Whitney Canada
P&WC, based in Longueuil, Quebec, is a world leader in aviation engines powering
business and regional aircraft and helicopters. The company also offers advanced
engines for industrial applications. P&WC's operations and service network span
the globe. P&WC is a subsidiary of United Technologies Corporation (NYSE:UTX), a
high-technology company based in Hartford, Connecticut. For more information,
please consult http://www.pwc.ca
About IBM
IBM is the world's largest information technology company, with 80 years of
leadership in helping businesses innovate. IBM Sales & Distribution, which
supports more than a dozen key industries worldwide, works with companies of all
sizes around the world to deploy the full range of IBM technologies. The fastest
way to get more information about IBM is through the IBM home page at
http://www.ibm.com
About Dassault Systemes
As world leader in 3D PLM (three-dimensional Product Lifecycle Management)
solutions, the Dassault Systemes group brings value to more than 55,000
customers in 80 countries. A pioneer in the 3D software market since 1981,
Dassault Systemes develops and markets 3D PLM application software and services
that support industrial processes and provide a 3D vision of the entire life
cycle of products from conception to retirement. Its offering includes 3D PLM
integrated solutions for product development (CATIA, DELMIA, ENOVIA, SMARTEAM),
general-use 3D solutions (SolidWorks), and 3D components (SPATIAL). Dassault
Systemes is listed on the Nasdaq (DASTY) and Euronext Paris (#13065, DSY.PA)
stock exchanges.
For more information, visit http://www.3ds.com
P&WC Press Contact: IBM Press Contact: Dassault Systemes Press Dassault Systemes
Annick Laberge Jennifer Feller Contacts: Investor Contacts:
+ 1 450-647-4113 + 33 1 41 88 61 89 Anthony Marechal Emma Rutherford, James
annick.laberge@pwc.ca jennyfeller@fr.ibm.com + 33 1 55 49 84 21 Melville-Ross
anthony_marechal@ds-fr.com Financial Dynamics
+44 207 831 3113
Keith Pillow (Americas) UK press enquiries:
+ 1 818-673-2070 Simon Manley, Anya
keith_pillow@ds-us.com Velzeboer
Financial Dynamics
44 207 269 7175/4
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
DASSAULT SYSTEMES S.A.
Dated: October 23, 2002 By: /s/ Thibault de Tersant
-------------------------------
Name: Thibault de Tersant
Title: Executive Vice President,
Finance and Administration