ANSYS Announces $25.3 Million in Revenue and $0.43 Adjusted Earnings Per Share for the Fourth Quarter 2002

Note to editors: ANSYS, ANSYS*EMAX, AI*NASTRAN, ANSYS*Environment, CADOE and DesignSpace are Trademarks or registered Trademarks of subsidiaries of ANSYS, Inc. located in the United States or other countries. All other trademarks and registered 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         Twelve months ended
                     December 31, December 31,   December 31,  December 31,
                         2002         2001           2002          2001
  Revenue:
    Software licenses   $14,052      $14,381       $48,177       $45,318
    Maintenance and
     service             11,215       10,692        42,834        39,518
      Total revenue      25,267       25,073        91,011        84,836

  Cost of sales:
    Software licenses     1,041        1,241         3,897         4,726
    Maintenance and
     service              2,038        1,792         7,863         6,627
      Total cost
       of sales           3,079        3,033        11,760        11,353

  Gross profit           22,188       22,040        79,251        73,483

  Operating expenses:
    Selling and
     marketing            4,997        5,310        20,089        19,726
    Research and
     development          4,693        4,322        19,605        16,893
    Amortization            565        1,347         2,289         5,271
    General and
     administrative       2,632        3,399        10,194        13,045
      Total operating
       expenses          12,887       14,378        52,177        54,935

  Operating income        9,301        7,662        27,074        18,548

  Other income (expense)   (215)        (160)          311         1,434

  Income before income
   tax provision          9,086        7,502        27,385        19,982

  Income tax provision    2,817        2,404         8,426         6,290

  Net income             $6,269       $5,098       $18,959      $ 13,692

  Net income per basic
   common share:
    Basic earnings
     per share            $0.43        $0.35         $1.30         $0.94
    Weighted average
     shares - basic      14,557       14,427        14,598        14,554


  Net income per
   diluted common share:
    Diluted earnings per
     share                $0.41        $0.33         $1.22         $0.89
    Weighted average
     shares - diluted    15,374       15,693        15,594        15,438


  Net income before acquisition-
   related amortization: $6,552       $5,972       $20,091       $17,144
    Adjusted diluted
     earnings per share   $0.43        $0.38         $1.29         $1.11



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

                                           December 31,    December 31,
                                               2002            2001
                                           (Unaudited)     (Unaudited)
  ASSETS:

  Cash & short-term investments                          $61,132                  $53,448
    Accounts  receivable,  net                                        15,875                    15,352
    Other  assets                                                                49,424                    48,962
            Total  assets                                                    $126,431                $117,762


    LIABILITIES  &  STOCKHOLDERS'  EQUITY:

    Current  liabilities                                                $35,238                  $43,369
    Stockholders'  equity                                                91,193                    74,393
            Total  liabilities  &
              stockholders'  equity                                  $126,431                $117,762
 





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