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by David R. Brousell, MA Editorial Staff
Posted on Friday, February 23, 2007 2:00:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | In the shadow of its pending acquisition by automation giant Siemens, UGS reports on 2006 numbers and officials discuss plans for the future. |
| Keywords: | UGS, Siemens, earnings announcement, fourth quarter, year end, revenue, net income, PLM, product lifecycle management, collaborative product data management, cPDM, CAD, product design |
Barely a month after its acquisition by automation giant Siemens AG was announced, product lifecycle management software provider UGS yesterday reported strong fourth-quarter financial results, with a 76% increase in net income leading the numbers. UGS, which expects the $3.5 billion acquisition by Siemens to close in the April/May timeframe, said that for the fourth quarter, ended Dec. 31, 2006, revenue grew to $353 million, up 8% compared with $327 million in the year-ago quarter. Net income jumped 76% to $23 million, from $13 million. Full-year 2006 results, however, showed another annual loss for UGS. The company suffered a $10.3 million loss on a 6% gain in revenues to $1.2 billion. In 2005, UGS lost $10 million. [Click to continue] |
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