ANSYS Reports Record Q1 Operating Results

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The Company's non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures, and should be read only in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP.

Pursuant to the requirements of Regulation G, the Company has provided a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures as listed below:

    GAAP Reporting Measure        Non-GAAP Reporting Measure

    Revenue                       Non-GAAP Revenue
    Operating Profit              Non-GAAP Operating Profit
    Operating Profit Margin       Non-GAAP Operating Profit Margin
    Net Income                    Non-GAAP Net Income
    Diluted Earnings Per Share    Non-GAAP Diluted Earnings Per Share

About ANSYS, Inc.

ANSYS, Inc., founded in 1970, develops and globally markets engineering simulation software and technologies widely used by engineers and designers across a broad spectrum of industries. The Company focuses on the development of open and flexible solutions that enable users to analyze designs directly on the desktop, providing a common platform for fast, efficient and cost- conscious product development, from design concept to final-stage testing and validation. The Company and its global network of channel partners provide sales, support and training for customers. Headquartered in Canonsburg, Pennsylvania U.S.A. with more than 40 strategic sales locations throughout the world, ANSYS, Inc. and its subsidiaries employ approximately 1,400 people and distribute ANSYS products through a network of channel partners in over 40 countries. Visit http://www.ansys.com for more information.

Certain statements contained in the press release regarding matters that are not historical facts, including, but not limited to, statements regarding our projections for revenue and earnings per share for the second quarter and fiscal year 2007 (both GAAP and non-GAAP to exclude purchase accounting for deferred revenue, acquisition-related amortization and stock-based compensation expense), statements about management's views concerning the Company's prospects in the remainder of 2007 and subsequent years and the effect of the Fluent integration on these prospects, statements and projections relating to the impact of stock-based compensation, statements regarding management's use of non-GAAP financial measures, statements regarding the impact of the integration of the Fluent operations, statements regarding our long-term vision, statements regarding our commitment to providing world-class solutions and the significance of the release of ANSYS 11.0, statements regarding our momentum in 2007, and statements regarding our ability to invest and capitalize on market opportunities, including through leveraging our customer base, strategic vision, technology leadership, and business model, to drive technological and operational excellence, are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements in this press release are subject to risks and uncertainties, including, but not limited to, the risk of a general economic downturn in one or more of ANSYS' primary geographic regions, the risk that the assumptions underlying ANSYS' anticipated revenues and expenditures will change or prove inaccurate, the risk that ANSYS has overestimated its ability to maintain growth and profitability and control costs, uncertainties regarding the demand for ANSYS' products and services in future periods, the risk that ANSYS has overestimated the strength of the demand among its customers for its products, risks of problems arising from customer contract cancellations, uncertainties regarding customer acceptance of new products, the risk that ANSYS' operating results will be adversely affected by possible delays in developing, completing, or shipping new or enhanced products, risks that enhancements to the Company's products may not produce anticipated sales, uncertainties regarding fluctuations in quarterly results, including uncertainties regarding the timing of orders from significant customers, and other factors that are detailed from time to time in reports filed by ANSYS, Inc. with the Securities and Exchange Commission, including ANSYS, Inc.'s 2007 Annual Report and Form 10-K, as amended. We undertake no obligation to publicly update or revise any forward-looking statements, whether changes occur as a result of new information or future events, after the date they were made.

ANSYS, ANSYS Workbench, AUTODYN, CFX, FLUENT and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.



                         ANSYS, INC. AND SUBSIDIARIES
                      Consolidated Statements of Income
                    (in thousands, except per share data)
                                 (Unaudited)

                                                      Three Months Ended
                                               March 31, 2007   March 31, 2006
    Revenue:
      Software licenses                              $57,212        $26,752
      Maintenance and service                         30,647         19,259

        Total revenue                                 87,859         46,011

    Cost of sales:
      Software licenses                                2,212          1,490
      Amortization of software and
       acquired technology                             5,342            908
      Maintenance and service                         11,326          4,470

        Total cost of sales                           18,880          6,868

    Gross profit                                      68,979                 39,143


        Operating  expenses:
            Selling,  general  and  administrative                          26,891                  11,839
            Research  and  development                                                13,072                    9,357
            Amortization                                                                          2,195                        128

                Total  operating  expenses                                            42,158                  21,324

        Operating  income                                                                    26,821                  17,819

        Interest  (expense)  income                                                  (1,121)                  1,516
        Other  income                                                                                    84                        182

        Income  before  income  tax  provision                                25,784                  19,517

        Income  tax  provision                                                              9,633                    6,604

        Net  income                                                                              $16,151                $12,913

        Earnings  per  share  -  basic:
            Basic  earnings  per  share                                                  $0.42                    $0.40
            Weighted  average  shares  -  basic                                  38,683                  32,122

        Earnings  per  share  -  diluted:
            Diluted  earnings  per  share                                              $0.40                    $0.38
            Weighted  average  shares  -  diluted                              40,367                  34,165



                                                  ANSYS,  INC.  AND  SUBSIDIARIES
                                          Reconciliation  of  Non-GAAP  Measures
                                    For  the  three  months  ended  March  31,  2007
                        (in  thousands,  except  percentages  and  per  share  data)
                                                                  (Unaudited)

                                                                                                                                        Non-GAAP
                                                                                As  Reported    Adjustments        Results

        Total  revenue:                                              $87,859        $  1,760(1)            $89,619

        Operating  income                                            26,821          11,342(2)              38,163

        Operating  profit  margin                                  30.5%                                            42.6%

        Net  income                                                      $16,151        $  7,302(3)            $23,453

        Earnings  per  share  -  diluted:
            Diluted  earnings  per  share                      $0.40                                            $0.58
            Weighted  average  shares  -  diluted      40,367                                          40,367

        (1)  Amount  represents  the  revenue  not  reported  during  the  period  as  a
                result  of  the  purchase  accounting  adjustment  associated  with  EITF  01-
                3,  "Accounting  in  a  Business  Combination  for  Deferred  Revenue  of  an
                Acquiree."

        (2)  Amount  represents  $7.4  million  of  amortization  expense  associated  with
                intangible  assets  acquired  in  business  acquisitions,  including  amounts
                primarily  related  to  acquired  software,  customer  list  and  non-compete
                agreements,  a  $2.2  million  charge  for  stock-based  compensation  in
                accordance  with  SFAS  No.  123R,  "Share-Based  Payment,"  as  well  as  the
                $1.8  million  adjustment  to  revenue  as  reflected  in  (1)  above.

        (3)  Amount  represents  the  impact  of  the  adjustments  to  operating  income
                referred  to  in  (2)  above,  adjusted  for  the  related  income  tax  impact
                of  $4.0  million.



                                                  ANSYS,  INC.  AND  SUBSIDIARIES
                                          Reconciliation  of  Non-GAAP  Measures
                                    For  the  three  months  ended  March  31,  2006
                        (in  thousands,  except  percentages  and  per  share  data)
                                                                  (Unaudited)
                                                                                                                                        Non-GAAP
                                                                                As  Reported    Adjustments        Results

        Total  revenue:                                              $46,011                    -                  $46,011

        Operating  income                                            17,819        $  2,145(1)              19,964

        Operating  profit  margin                                  38.7%                                            43.4%

        Net  income                                                      $12,913        $  1,581(2)            $14,494

        Earnings  per  share  -  diluted:
            Diluted  earnings  per  share                      $0.38                                            $0.42
            Weighted  average  shares  -  diluted      34,165                                          34,165

        (1)  Amount  represents  $922,000  of  amortization  expense  associated  with
                intangible  assets  acquired  in  business  acquisitions,  including  amounts
                primarily  related  to  acquired  software,  customer  list  and  non-compete
                agreements,  as  well  as  $1.2  million  charge  for  stock-based
                compensation  in  accordance  with  SFAS  No.  123R,  "Share-Based  Payment."

        (2)  Amount  represents  the  impact  of  the  adjustments  to  operating  income
                referred  to  in  (1)  above,  adjusted  for  the  related  income  tax  impact
                of  $564,000.



                                                  ANSYS,  INC.  AND  SUBSIDIARIES
                                        Condensed  Consolidated  Balance  Sheets
                                                                (in  thousands)
                                                                  (Unaudited)

                                                                                                          March  31,      December  31,
                                                                                                              2007                      2006
        ASSETS:

        Cash  &  short-term  investments                                      $117,543              $104,486

        Accounts  receivable,  net                                                    43,550                  37,341
        Goodwill                                                                                  430,509                428,959
        Other  intangibles,  net                                                      197,051                204,115
        Other  assets                                                                          116,603                103,142

                Total  assets                                                                $905,256              $878,043

        LIABILITIES  &  STOCKHOLDERS'  EQUITY:

        Deferred  revenue                                                                $120,506              $101,226
        Long-term  debt  (including  current  portion)              114,802                123,320
        Other  liabilities                                                                115,932                118,704
        Stockholders'  equity                                                          554,016                534,793

                Total  liabilities  &  stockholders'  equity        $905,256              $878,043



                                                  ANSYS,  INC.  AND  SUBSIDIARIES
                                    Reconciliation  of  Forward-Looking  Guidance
                                                  Quarter  Ending  June  30,  2007

                                                                                                    Earnings  Per  Share  Range
                                                                                                                  -  Diluted

        U.S.  GAAP  expectation                                                              $0.35  -  $0.38
        Adjustment  to  exclude  purchase  accounting
          adjustments  to  deferred  revenue                                                    -
        Adjustment  to  exclude  acquisition-related
          amortization                                                                              $0.11  -  $0.12
        Adjustment  to  exclude  stock-based
          compensation                                                                              $0.04  -  $0.05

        Non-GAAP  expectation                                                                $0.52  -  $0.53


                                                  ANSYS,  INC.  AND  SUBSIDIARIES
                                    Reconciliation  of  Forward-Looking  Guidance
                                                Year  Ending  December  31,  2007

                                                                                                        Earnings  Per  Share  Range
                                                                                                                    -  Diluted

        U.S.  GAAP  expectation                                                              $1.46  -  $1.53
        Adjustment  to  exclude  purchase  accounting
          adjustments  to  deferred  revenue                                                $0.03
        Adjustment  to  exclude  acquisition-related
          amortization                                                                              $0.43  -  $0.45
        Adjustment  to  exclude  stock-based
          compensation                                                                              $0.18  -  $0.20

        Non-GAAP  expectation                                                                $2.14  -  $2.17
 

Web site: http://www.ansys.com//



« Previous Page 1 | 2 | 3             



Review Article Be the first to review this article

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Re-Use Your CAD: The ModelCHECK Handbook
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Upcoming Events
Design & Manufacturing, Feb 7 - 9, 2017 Anaheim Convention Center, Anaheim, CA at Anaheim Convention Center Anaheim CA - Feb 7 - 9, 2017
Innorobo 2017 at Docks de Paris Paris France - May 16 - 18, 2017
Display Week 2017 at Los Angeles Convention Center 1201 S Figueroa St Los Angeles CA - May 21 - 26, 2017



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise