Ansys Tops Estimates

SAN FRANCISCO -- On the strength of a big first-quarter earnings beat, Ansys(ANSS) raised full-year guidance Thursday.

The stock was up $1.18, or 2.9%, to $41.41 in recent trading.

The Canonsburg, Pa., software company said revenue grew 25% to $109.5 million, from $87.9 million for the same quarter of last year. Analysts were looking for $105.2 million, according to Thomson Financial.

Net income grew 60% to $25.9 million, or 32 cents a share, from $16.2 million, or 20 cents a share, in the year-ago period.

Excluding items, EPS was 40 cents. Analysts were expecting 33 cents a share.

Operating margin improved to 38.2%, from 30.5% a year ago. Excluding special items, operating margin was 47.3% from 42.6% last year.

For the second quarter, Ansys projected revenue of $109 million to $111 million and EPS excluding items of 36 cents or 37 cents. Analysts were expecting $108.6 million and 35 cents a share. The projections exclude revenue from the pending acquisition of Ansoft(ANST), a developer of electronic design automation software, for which Ansys is paying $832 million.

The company raised full-year revenue guidance to a range of $448 million to $452 million, from previous projections for a range of $442 million to $447 million. The guidance does not include revenue from Ansoft. EPS, excluding items, will be between $1.54 and $1.57. The company had previously projected EPS of $1.34 to $1.39.

Analysts were expecting revenue of $453.4 million and earnings of $1.42 a share, although some analysts have already factored in two quarters of anticipated revenue from Ansoft. That company is expected to post revenue of nearly $100 million for the year ended Wednesday. The Ansoft deal is expected to close in June.

Other engineering software companies include Dassault Systemes(DASTY), which reported earnings Tuesday, and Parametric Technology(PMTC), which reported April 23.

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