The combined earnings of the G6 (ESI not included) were $198 million, a whopping 36% increase relative to the year ago quarter, but a 22% drop compared to the just previous quarter. Only MSC.Software posted a loss (albeit small) for the quarter. On a year-over-year basis, ANSYS was the earnings percentage growth leader at 60%. Dassault was in second place at 41%. Autodesk also reached double digit earnings growth at nearly 14%. Moldflow and MSC had declines in earnings. On a sequential basis, PTC was the only firm to experience net earnings growth. Dassault endured the largest drop in absolute terms at -$50 million dollars, a case of less revenue at roughly the same expense level. The other firms had single digit drops in earnings relative to the previous traditionally-strong fourth quarter of 2007.
Details on Individual Vendors' Q1 2008 Performances
On May 1, 2008 ANSYS, Inc. announced financial results for the first quarter of 2008 the period ended March 31, 2008. Total revenue for the quarter was $109.5 million, a year-over-year increase of nearly 28% from the $87.0 million in the first quarter of 2007 and a 1.5% sequential decline from the $111.2 million in the last quarter of 2007. Software license revenue was $73.6 million, accounting for 67% of total revenue, an increase of almost 29% year-over-year, but a decrease of 2.6% sequentially. Maintenance and service revenue was $35.9 million, 33% of total revenue, an increase of 17% year-over-year, and an increase of nearly 1% sequentially.
Net income for the quarter was $26.8 million, a 60% increase from the $16.1 million in the first quarter of last year, but a drop of 11.7% from the $29.2 million in the just prior quarter.
Jim Cashman, ANSYS President and CEO, stated, "ANSYS is off to a strong start in 2008, as evidenced by our record first quarter financial performance. As our products and solutions continue to gain traction, adoption levels continue to increase. Customers are realizing the value our expanded portfolio of advanced technologies can provide. These are certainly exciting times at ANSYS, with continued record performance, the recent announcement of our signing a definitive agreement to purchase Ansoft Corporation, and the continued execution of our long-term strategic vision. I am very proud of the ANSYS team for delivering another solid quarter, while at the same time planning and finalizing the logistics related to the upcoming closing of the Ansoft acquisition, which is currently anticipated to occur during the second quarter."
On May 15, 2008 Autodesk, Inc. reported financial results for the first quarter of its fiscal year 2009, the period ended March 31, 2008. Total revenue for the quarter was $599 million, a healthy increase of 18% from the $509 million in the first fiscal quarter last year, but flat with respect to the just previous quarter. License revenue for the quarter was $432 million, an increase of nearly 13% year-over-year, but a decrease of 3.1% sequentially. Maintenance revenue for the quarter was $167 million, an increase of 33% year-over-year, and an 8.8% increase sequentially.
The Platform segment, which accounts for about 46% of Autodesk revenue, includes AutoCAD and AutoCAD LT products that service multiple markets. Other segments are AEC (previously two segments: Building and Infrastructure) and Media/Entertainment (previously named Discreet). The Manufacturing segment (which includes the Inventor product lines) accounted for 20% of total revenue and grew 27% year-over-year, but declined 3.3% from the prior quarter. A “guesstimate” of Autodesk MCAD revenue would be about $230 million for the quarter.
Design segment revenues increased 18% over the first quarter of fiscal 2008 to $526 million, accounting for 88% of total Autodesk revenue. Combined revenue from the Company's model-based 3D products, Inventor, Revit, Civil 3D, NavisWorks, and Robobat, increased 37% over the first quarter of fiscal 2008 to $146 million, and comprised 24% of total revenue.
Autodesk says it shipped approximately 35,000 commercial seats of its model-based 3D design products, including 11,500 commercial seats of Inventor and 24,000 seats of its Architecture, Engineering and Construction products - Revit, Civil 3D, and NavisWorks. In addition, revenue from 2D vertical products increased 16% compared to the first quarter of fiscal 2008.
Compared to the first quarter of fiscal 2008, revenue in EMEA increased 26% to $259 million. Revenue in Asia Pacific increased 27% year-over-year to $149 million. Revenue from the emerging economies in Asia Pacific, EMEA and Latin America increased 52% and were 19% of total revenue. Strong growth in these international geographies was offset by lower revenue growth in the Americas of just 2% over the fourth quarter of fiscal 2007. Revenue from the emerging economies increased 41% over the first quarter of fiscal 2008 to $101 million and represented 17% of total revenue.
On May 7, 2008 Autodesk announced that it has completed the acquisition of Kynogon SA, the privately held maker of Kynapse artificial intelligence middleware. Autodesk announced its intent to acquire Paris-based Kynogon on February 19, 2008. Terms of the transaction were not disclosed. Kynapse has been used to develop more than 65 AAA game titles.
Carl Bass, Autodesk president and CEO, said, “Fiscal 2009 is off to a good start with our solid first quarter results. International markets, especially emerging economies, continue to underpin our overall revenue growth. We also continue to experience strong growth of our 3D products. Autodesk continues to drive innovative design technologies into a variety of industries - architecture, engineering, manufacturing, media and entertainment - and we will continue to work hard to shape the evolution of industry design trends such as Digital Prototyping and Building Information Modeling."
On April 30, 2008 Dassault Systemes (DS) reported financial results for the first quarter, the period ended March 31, 2008. Total revenue was $461 million, an increase of nearly 21% from the $381 million in the first quarter of 2007, but a decrease of 21.4% from the $526 million in the prior quarter. Software revenue was $404 million, 88% of total revenue, an increase of 25% year-over-year, but a decrease of 9.7% sequentially. New license revenue was 37% of software revenue, while recurring software revenue was 63%. Note: Dassault Systemes, a French company, reports its financial results in euros but provides average conversion factors to dollars for each quarter and year. These factors were used to calculate US dollar numbers here. Quarterly revenue growth in terms of constant currency non-GAAP was 10%, which was the guidance given last quarter.
Revenue from North America at $141 million accounted for 30.5% of total quarterly DS revenue. This was an increase of nearly 12% year-over-year, but a decrease of 8.4% sequentially. Revenue from Europe was $208 million, accounting for 45% of total revenue. This was an increase of 29% year-over-year, but a decrease of 21% sequentially. Revenue from Asia was $112 million, accounting for 24% of total revenue. This was an increase of 19% year-over-year, and an increase of 2.2% from the prior quarter.
The Enovia brand (which includes Enovia, MatrixOne and SmarTeam) generated $57 million in the quarter, or 12% of total revenue. This was a 13% increase year-over-year, but almost a 22% decrease sequentially. Note that MatrixOne was acquired in May 2006 for $410 million.
Dassault has now combined SolidWorks and CosmosWorks into Mainstream 3D. This category generated $101 million in the quarter, accounting for 21.9% of total revenue, and representing an increase of 27% year-over-year, and an increase of 3.8% sequentially. CAD generated $184 million or 40% of total revenue, up almost 32% year-over-year, but down over 13% sequentially.