ANSYS Reports Strong Core Revenue Growth and Robust Operating Results for the Third Quarter

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ANSYS, INC. AND SUBSIDIARIES
 
Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)
       
Three Months Ended Nine months Ended

Sept. 30, 2008

Sept. 30, 2007

Sept. 30, 2008

Sept. 30, 2007

Revenue:
Software licenses $ 80,226 $ 61,099 $ 227,777 $ 177,723
Maintenance and service 42,021     32,935   115,261     96,381  
Total revenue 122,247 94,034 343,038 274,104
 
Cost of sales:
Software licenses 2,508 2,236 6,911 6,756
Amortization 8,120 5,395 18,072 16,119
Maintenance and service 13,959     11,760   41,041     34,327  
Total cost of sales 24,587     19,391   66,024     57,202  
 
Gross profit 97,660 74,643 277,014 216,902
 
Operating expenses:
Selling, general and administrative 36,071 26,596 92,933 80,582
Research and development 20,282 14,198 52,768 40,846
Amortization 3,011     2,239   7,362     6,647  
Total operating expenses 59,364     43,033   153,063     128,075  
 
Operating income 38,296 31,610 123,951 88,827
 
Interest expense (3,122 ) (1,600 ) (5,349 ) (5,549 )
Interest income 1,672 1,273 4,480 3,248
Other (expense) income (273 )   (337 ) 281     (735 )
 
Income before income tax provision 36,573 30,946 123,363 85,791
 
Income tax provision 10,798     12,250   43,605     32,688  
 
Net income $ 25,775   $ 18,696   $ 79,758   $ 53,103  
 
Earnings per share basic
Basic earnings per share $ 0.30 $ 0.24 $ 0.99 $ 0.68
Weighted average shares basic 85,687 77,981 80,831 77,653
 
 
Earnings per share diluted
Diluted earnings per share $ 0.29 $ 0.23 $ 0.94 $ 0.66
Weighted average shares diluted 90,117 81,196 84,614 80,938
 

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