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

 

ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures
For the six months ended June 30, 2008
(in thousands, except percentages and per share data)
(Unaudited)

As Reported

Adjustments

Non-GAAP Results
Total revenue $ 220,791 $ 220,791
Operating income 85,655 $ 19,997 (1) 105,652
Operating profit margin 38.8% 47.9%
Net income $ 53,983 $ 13,186 (2) $ 67,169
Earnings per share diluted:
Diluted earnings per share $ 0.66 $ 0.82
Weighted average shares diluted 81,863 81,863
(1) Amount represents $14.1 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, and a $5.9 million charge for stock-based compensation.
(2) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $6.8 million.

ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures
For the six months ended June 30, 2007
(in thousands, except per share data)
(Unaudited)

As Reported

Adjustments

Non-GAAP Results
Total revenue $ 180,070 $ 1,829 (1) $ 181,899
Operating income 57,217 21,013 (2) 78,230
Operating profit margin 31.8% 43.0%
Net income $ 34,407 $ 13,667 (3) $ 48,074
Earnings per share diluted:
Diluted earnings per share $ 0.43 $ 0.59
Weighted average shares diluted 80,809 80,809
(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 $14.9 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 $4.3 million charge for stock-based compensation, 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 $7.3 million.

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