Teradata (TDC +7.7%), which tumbled this year on bad earnings news and IT spending concerns, is reiterating its guidance for 2013 EPS to be at the low end of an initial guidance range of $3.05-$3.20; that's still above a $3.00 consensus.
Due to a 100-200 bps forex hit, Teradata now expects 2013 revenue growth of 4%-5%, below a 5.2% consensus.
Q2 EPS was lifted by $91M in buybacks, and a relatively healthy gross margin of 57.9% (down 60 bps Y/Y, but that's better than the 240 bps drop seen in Q1).
Product revenue (drives future services sales) -12% Y/Y vs. -19% in Q1. Consulting services +10%, maintenance services +7%.
Americas revenue +2% vs. -9% in Q1. International -1% vs. +3%.
SG&A spend +3% Y/Y to $185M. R&D spend +10%, but still only $47M.
Q2 results, PR