ANSYS, Inc. Reports Second Quarter 2008 Financial Results (Revenue up 20%)

Forward Looking 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 third quarter and fiscal year 2008 (both GAAP and non-GAAP, as applicable, 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 2008 and subsequent years, including statements about the Companys momentum and multi-year trajectory, statements about the Companys diversified global reach, resilient business model and technical innovations continuing to drive customer demand, statements regarding the growing need for energy efficiency, stricter environmental and regulatory mandates and customers increasingly using simulation to realize their goals for innovative product development and value creation, statements about the dedication and focus of the ANSYS team and delivery on commitments, statements about the continuing focus on customers and technology, statements about record cash flows from operations, statements and projections relating to the impact of stock-based compensation, statements regarding management's use of non-GAAP financial measures, statements regarding the Companys third quarter and beyond visibility, and statements regarding the impact of the Ansoft acquisition 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. These include the risk that the business of ANSYS and Ansoft may not be combined successfully or such combination may take longer or cost more to accomplish than expected, the risk that the indebtedness incurred in connection with the acquisition of Ansoft may negatively impact ANSYS flexibility and its financial condition, the risk that operating costs, customer loss and business disruption following the acquisition of Ansoft may be greater than expected, and risks relating to the Companys reliance on Ansofts financial statements. Additional risks include, but are 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, Ansoft, 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 Six Months Ended
June 30,

2008

June 30,

2007

June 30,

2008

June 30,

2007

Revenue:
Software licenses $ 73,915 $ 59,412 $ 147,551 $ 116,624
Maintenance and service 37,331 32,799 73,240 63,446
Total revenue 111,246 92,211 220,791 180,070
Cost of sales:
Software licenses 2,056 2,308 4,403 4,520

Amortization of software and acquired technology

4,768 5,382 9,952 10,724
Maintenance and service 13,706 11,241 27,082 22,567
Total cost of sales 20,530 18,931 41,437 37,811
Gross profit 90,716 73,280 179,354 142,259
Operating expenses:
Selling, general and administrative 28,153 27,095 56,862 53,986
Research and development 16,528 13,576 32,486 26,648
Amortization 2,181 2,213 4,351 4,408
Total operating expenses 46,862 42,884 93,699 85,042
Operating income 43,854 30,396 85,655 57,217
Interest expense (1,242) (1,966) (2,227) (3,949)
Interest income 1,212 1,113 2,808 1,975
Other income (expense) (378) (482) 554 (398)
Income before income tax provision 43,446 29,061 86,790 54,845
Income tax provision 15,317 10,805 32,807 20,438
Net income $ 28,129 $ 18,256 $ 53,983 $ 34,407
Earnings per share basic:
Basic earnings per share $ 0.36 $ 0.24 $ 0.69 $ 0.44
Weighted average shares basic 78,503 77,611 78,403 77,488
Earnings per share - diluted:
Diluted earnings (loss) per share $ 0.34 $ 0.23 $ 0.66 $ 0.43
Weighted average shares diluted 82,083 80,886 81,863 80,809

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