MCAD/MCAE Industry View - A June 2011 Update

ANSYS' first quarter financial results are presented below.  GAAP results reflect:

  • Total revenue of $158.0 million in the first quarter of 2011, up 16.1% compared to total revenue of $136.1 million in the first quarter of 2010; but down 5.2% compared to the seasonally strong Q4 2010. ANSYS’ Q1 2011 revenue of $158 million was above the top of the guidance range provided 3 months ago.
  • A GAAP operating profit margin of 39.4% in the first quarter of 2011 as compared to 36.5% in the first quarter of 2010.
  • GAAP net income of $42.24 million in the first quarter of 2011, up $9.9 million compared to GAAP net income of $32.37 million in the first quarter of 2010, but down $6.9 million compared to seasonally strong Q4 2010 net income of $49.1 million.
  • GAAP diluted earnings per share of $0.45 in the first quarter of 2011 as compared to GAAP diluted earnings per share of $0.35 in the first quarter of 2010, but of course lower than the $0.52 EPS of Q4 2010. The $0.45 EPS in Q1 2011 was a penny per share higher than the top of the EPS guidance range of $0.41 to $0.44 provided 3 months ago.

The Company's GAAP results reflect stock-based compensation charges of approximately $5.1 million ($4.0 million after tax) or $0.04 diluted earnings per share for the first quarter of 2011.

During the first quarter of 2011, the Company repurchased 247,443 shares of stock at an average price of $51.34.  The Company currently has approximately 1.1 million shares remaining in its authorized repurchase program.

Second Quarter and Fiscal Year 2011 Guidance

The Company currently expects the following for the quarter ending June 30, 2011:

  • Revenue in the range of $155 - $161 million
  • GAAP diluted earnings per share of $0.41 - $0.46    

The Company currently expects the following for the fiscal year ending December 31, 2011:

  • Revenue in the range of $645 - $665 million
  • GAAP diluted earnings per share of $1.81 - $1.91

ANSYS turns 40!

In case you missed it, readers may be interested in the “ANSYS turns 40!” profile of ANSYS first posted by this writer in an EDA WEEKLY on July 19, 2010 (be sure to bookmark this page before clicking on the URL below, so you can return here easily):

http://www10.edacafe.com/nbc/articles/view_weekly.php?articleid=841475




May 23 Close =  $55.67            Market Cap = $5.11B



ANSYS, Inc. self-description

ANSYS, Inc., founded in 1970, develops and globally markets engineering simulation software and technologies widely used by engineers and designers across a broad spectrum of industries. 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 1,700 people and distribute ANSYS products through a network of channel partners in over 40 countries. Visit www.ansys.com for more information.



On May 19, 2011 Autodesk, Inc. (NASDAQ: ADSK) reported financial results for the first quarter of its 2012 fiscal year which ended April 30, 2011. This is “nominal Q1 2011” for our purposes.

  • Nominal Q1 2011 revenue was $528.3 million, an increase of 11.3% year over year compared to the $474.6 million of nominal Q1 2010, and basically flat (+0.1%) when compared to sequential Q4 2010 of $527.7 million. The $528.3 million in Q1 2011 revenue was above the guidance range of $510 million to $525 million provided three months ago.
  • GAAP operating margin was 15%, compared to 11% in nominal Q1 2010.
  • Net Income in Q1 2011 was $69.3 million, up 87.8% from the $36.9 million a year ago, and up 12.5% above the $61.6 million in traditionally strong sequential Q4 2010.
  • Earnings per share were $0.29, compared to $0.16 nominal Q1 2010. EPS of $0.29 in Q1 2011 was far above the guidance range of $0.21 to $0.24 provided 3 months ago.
  • Cash flow from operating activities in Q1 2011was only $128 million, compared to $139 million in nominal Q1 2010, and $176 million in nominal Q4 2010.

"Strong demand for manufacturing, horizontal design products, suites, and animation products, led to solid growth in the quarter," said Carl Bass, Autodesk president & CEO.


"We launched our 2012 product line this quarter, including the new family of design and creation suites, and are pleased with the initial feedback we're hearing from our partners and customers. The first quarter was a solid start to our year, and we look to build on our momentum through the next three quarters."

First Quarter Operational Overview

Europe, Middle East and Africa (EMEA) revenue was $215 million, an increase of 8% compared to the first quarter last year as reported and 10% on a constant currency basis. Revenue in the Americas was $181 million, an increase of 13% compared to the first quarter last year. Revenue in Asia Pacific was $132 million, an increase of 15% compared to the first quarter last year as reported and 11% on a constant currency basis. Revenue from emerging economies was $77 million, an increase of 13% compared to the first quarter last year as reported and 13% on a constant currency basis. Revenue from emerging economies represented 15% of total revenue in the first quarter.

All constant currency calculations remove the impact of foreign currency fluctuations and any gains or losses recorded to revenue within the current period as a result of Autodesk's hedging program.

Revenue from the Platform Solutions and Emerging Business segment was $211 million, an increase of 15% compared to the first quarter last year. Revenue from the Architecture, Engineering and Construction business segment was $141 million, an increase of 3% compared to the first quarter last year. Revenue from the Manufacturing business segment was $123 million, an increase of 14% compared to the first quarter last year. Revenue from the Media and Entertainment business segment was $53 million, an increase of 15% compared to the first quarter last year.

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