ANSYS, Inc. Reports Solid Revenue Results with Strong Margins and Non-GAAP EPS Performance for the Third Quarter 2010

 
 

ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures

(Unaudited)

(in thousands, except percentages and per share data)

 
 

 

       

Three Months Ended

September 30, 2010

   

September 30, 2009

As

 

Non-GAAP

     

As

 

Non-GAAP

 

Reported

Adjustments

Results

Reported

Adjustments

Results

 
Total revenue $ 139,843 $ 139,843 $ 128,187 $ 567(3) $ 128,754
 
Operating income 51,877 $ 16,960(1) 68,837 47,632 16,777(4) 64,409
 
Operating profit margin 37.1% 49.2% 37.2% 50.0%
 
Net income $ 36,130 $ 11,294(2) $ 47,424 $ 30,529 $ 10,884(5) $ 41,413
 
Earnings per share - diluted:
Diluted earnings per share $ 0.39 $ 0.51 $ 0.33 $ 0.45

Weighted average shares - diluted

93,212 93,212 91,640 91,640

 

        (1)   Amount represents $12.2 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list, trademarks and non-compete agreements, as well as a $4.7 million charge for stock-based compensation.
 
(2) Amount represents the impact of the adjustments to operating income referred to in (1) above, adjusted for the related income tax impact of $5.7 million.
 
(3) Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with accounting for deferred revenue in business combinations.
 
(4) Amount represents $13.0 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list, trademarks and non-compete agreements, a $3.2 million charge for stock-based compensation, as well as the $567,000 adjustment to revenue as reflected in (3) above.
 
(5) Amount represents the impact of the adjustments to operating income referred to in (4) above, adjusted for the related income tax impact of $5.9 million.
 

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