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Ansys Management Discusses Q2 2012 Results - Earnings Call Transcript

Overall, we achieved double-digit growth in reported and constant currency in both software license and maintenance revenue, and of course, this yielded a new all-time high in deferred revenue balance. This in turn, as usual, drove strong margins and cash flows from operations.

So also consistent with what we've outlined about use of the cash, even dating back to the Investor Day we had in early March, during Q2, we repurchased 1 million shares of stock, which leaves around 2 million shares remaining in the authorized pool. We also continued our strategy to expand breadth and depth in our multiphysics portfolio, with the addition of Esterel, which we announced during the quarter and actually just closed yesterday.

Speaking back to that Investor Day, many of you might recall when we met in early March at that time in New York City, we laid out some of the key themes of our long-term strategy, including the opportunities that lay ahead for the future of Simulation Driven Product Development. The Esterel acquisition is just another step forward that enables us to respond to our customers' new reality, and that's a business environment where they simply can't afford to compromise on depth, breadth or quality of the simulation tools that they're using to solve their own increasingly complex design challenges.

But it also uniquely positions us to provide embedded systems simulation with certified cogeneration further differentiating our solutions. So other comments, you can find in there, but our industry composition, it remains averse with continuing success in areas in this particular quarter, such most notably things like automotive, aerospace and defense and material and chemical processing.

So the result of all this is that we reiterated our outlook on fiscal year 2012 non-GAAP revenue and non-GAAP EPS. This also translates to Q3 revenue in the range of $197 million to $204 million, an EPS of $0.67 to $0.69, with revenue for the full year in the range of $810 million to $830 million, an EPS of $2.78 to $2.87.

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