MCAD/MCAE Industry View – An August 2010 Update


GAAP net income of $35.5 million was reported for the second quarter of 2010, 31% higher than the $27.1 million in the second quarter of 2009, and 9.6% higher as compared to $32.4 million in sequential Q1 2010. (GAAP net income was $67.9 million in the first six months of 2010 was 41% higher than the $48.2 million in the first six months of 2009).

This performance resulted in GAAP diluted earnings per share of $0.38 in the second quarter of 2010 as compared to $0.30 in the second quarter of 2009; and GAAP diluted earnings per share of $0.73 in the first six months of 2010 as compared to $0.53 in the first six months of 2009. Note: The $0.38 EPS figure was 2 cents above the top of the guidance range given 3 months ago for Q2 2010.


Third Quarter and Fiscal Year/Calendar 2010 Guidance

The Company currently expects the following for the third quarter ending September 30, 2010:

  • Revenue in the range of $137.0 - $142.0 million
  • GAAP diluted earnings per share of $0.34 - $0.37

The Company currently expects the following for the fiscal year ending December 31, 2010:

  • Revenue in the range of $565 - $580 million
  • GAAP diluted earnings per share of $1.47 - $1.55

ANSYS' self description:

ANSYS, Inc., founded in 1970, develops and globally markets engineering simulation software and technologies widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia. The Company focuses on the development of open and flexible solutions that enable users to analyze designs directly on the desktop, providing a common platform for fast, efficient and cost-conscious product development, from design concept to final-stage testing and validation. The Company and its global network of channel partners provide sales, support and training for customers. Headquartered in Canonsburg, Pennsylvania, U.S.A., with more than 60 strategic sales locations throughout the world, ANSYS, Inc. and its subsidiaries employ over 1,600 people and distribute ANSYS products through a network of channel partners in over 40 countries. Visit www.ansys.com for more information.



The day before ANSYS' Q2 2010 results were announced by CEO Jim Cashman, ANSYS stock closed at 46.58, which was a record high. The August 5 day of ANSYS' Q2 results' announcement itself, despite the favorable Q2 results numbers provided above, the ANSYS stock price slipped to 43.96, or a loss of 5.62%. It is noted that the entire NASDAQ went from 2303.57 on August 4 to 2293.06 on August 5, or a loss of only 0.46%, but still a loss. Some analysts said that ANSYS did not quite achieve all its goals in Q2 2010, but we saw above that ANSYS exceeded both its revenue guidance and its EPS guidance issued 3 months earlier.

By August 16, ANSYS stock had fallen to close at 40.87 on August 16, or 12.3% off its record high. Meanwhile, the NASDAQ had also dropped to 2181.87, or 121.7 points, or a loss of 5.3%.

However, on August 17, ANSYS stock arrested its falling direction and closed at 41.84 after nudging 42.21 during the trading day. The NASDAQ closed at 2209.44, up 1.26% for the day, reversing its 4 day drift.








On August 12, 2010 Autodesk, Inc. (NASDAQ: ADSK) reported its financial results for its second fiscal quarter of 2011, the period ending July 31, 2010, treated here as “nominal Q2 2010”.

Nominal Q2 2010 Revenue was $473 million, an increase of 14% as compared to $415 million in Q2 2009 and approximately flat sequentially (down 0.4%). The $473 million revenue figure for nominal Q2 2010 was $13 million above the top of the revenue range issued as guidance last quarter.

Autodesk experienced year-over-year growth in each major geography. Revenue in the Americas was $168 million, an increase 6% compared to the second quarter last year and 4% sequentially. The Americas posted year-over-year growth for the first time since nominal Q2 2008.

Nominal Q2 2010 revenue results in Autodesk's international geographies were particularly solid, with all of its top 5 countries showing year-over-year growth.

GAAP Net Income for nominal Q2 2010 was $60 million, a vast year over year improvement compared to the Q2 2009 figure of $10.5 million, and up sequentially over 62% from the $36.9 million of Q1 2010

On a GAAP basis, nominal Q2 2010 diluted earnings per share were $0.25, compared to diluted earnings per share of $0.05 in the second quarter last year, and diluted earnings per share of $0.16 sequentially in nominal Q1 2010. The EPS figure of $0.25 for nominal Q2 2010 was in fact 8 cents above the top of the range of EPS guidance issued three months ago.

Revenue from commercial new licenses continued its momentum, growing 46% compared to the second quarter last year and 18% sequentially.

On a product family basis, nominal Q2 2010 revenue from Autodesk's model-based design products was $138 million, an increase of 14% compared to the second quarter last year, and flat sequentially. Year-over-year growth in Autodesk's model-based design products was led by growth in Autodesk's Inventor and Revit families of products.

Autodesk's horizontal design products, which consist primarily of AutoCAD and AutoCAD LT, grew 25% compared to the second quarter last year but declined 5% sequentially. Revenue from vertical design products, such as AutoCAD Architecture and AutoCAD Mechanical, increased 14% compared to the second quarter last year and was flat sequentially.

Combined revenue from horizontal design products and vertical design products was $231 million, an increase of 22% compared to the second quarter last year but a decrease of 3% sequentially.

Guidance for nominal Q3 2010 (the quarter ending October 31, 2010) is for total Autodesk revenue of $450 million to $475 million, and GAAP EPS between $0.18 and $0.23.

“Our focus on growing our revenue base while controlling costs resulted in better than expected revenue and profitability in the second quarter," said Carl Bass, Autodesk president and CEO. “Although the pace of the global recovery is varied by country, we are pleased that we achieved revenue growth in all of our major geographies. We experienced strong year-over-year growth in many key areas including operating margin, revenue from commercial new licenses, and cash flow from operations. Our results reflect the traction that we are gaining in both new and existing accounts.”


Autodesk's self description:

Autodesk, Inc., is a leader in 3D design, engineering and entertainment software. Customers across the manufacturing, architecture, building, construction, and media and entertainment industries - including the last 15 Academy Award winners for Best Visual Effects - use Autodesk software to design, visualize, and simulate their ideas. Since its introduction of AutoCAD software in 1982, Autodesk continues to develop the broadest portfolio of state-of-the-art software for global markets. For additional information about Autodesk, visit www.autodesk.com.

Autodesk and AutoCAD are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. Academy Award is a registered trademark of the Academy of Motion Picture Arts and Sciences. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2010 Autodesk, Inc. All rights reserved.

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