Teradata Q1 Results Top View; Backs Adj. EPS Forecast; Names Victor Lund CEO

(RTTNews) - Teradata Corp. (TDC), a provider of analytic data platforms, reported Thursday that its first-quarter net loss was $46 million or $0.36 per share, compared to net income of $22 million or $0.15 per share last year.

Adjusted net income in the first quarter of 2016 was $62 million or $0.47 per share, compared to $44 million, or $0.30 per share last year.

On average, 23 analysts polled by Thomson Reuters expected earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues declined 6 percent to $545 million from $582 million last year. Analysts were looking for revenues of $519.28 million.

Looking ahead, for fiscal 2016, the company's earnings per share guidance is $0.97 to $1.12 including Marketing Applications, while adjusted earnings per share continues to be expected in the $2.35 - $2.50 range.

Previous earnings per share guidance was $1.68 to $1.83 including Marketing Applications business.

Revenue for 2016 is now expected to be in the $2.320 billion to $2.390 billion range. Excluding the Marketing Applications business, revenue for 2016 is now expected to decline 2 to 5 percent.

Previously, the company projected revenues in the $2.315 billion to $2.360 billion range, or down 7 to 8 percent from 2015. Excluding the Marketing Applications business, Teradata's revenue was expected to be $2.275 billion - $2.320 billion, or down 8 to 10 percent on a reported basis and down 6 to 8 percent on a constant currency basis.

Analysts expect earnings of $2.34 per share on revenues of $2.29 billion for the year.

Separately, Teradata announced that its Board of Directors has elected Victor Lund, a member of Teradata's Board of Directors since September 2007, as President and Chief Executive Officer. Lund succeeds Mike Koehler who has stepped down as Teradata's President, CEO and Board Director, effective immediately.