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ANSYS, Inc. Reports Final Results For 2013: Record Revenue And Earnings For The Fourth Quarter And Fiscal Year 2013

Management Provides Initial Q1 2014 Outlook and Increases FY 2014 Outlook t o Reflect the Inclusion of Reaction Design

Highlights
  • Fourth quarter GAAP revenue of $236.0 million and non-GAAP revenue of $236.7 million
  • Fiscal year 2013 GAAP revenue of $861.3 million and non-GAAP revenue of $865.9 million
  • Fourth quarter GAAP diluted EPS of $0.80* and non-GAAP diluted EPS of $0.96*
  • Fiscal year 2013 GAAP diluted EPS of $2.58* and non-GAAP diluted EPS of $3.27*
  • Operating cash flows of $85.0 million for the fourth quarter and $333.0 million for fiscal year 2013
  • Fourth quarter and fiscal year 2013 GAAP operating profit margins of 39.1% and 37.4%, respectively, and non-GAAP operating profit margins of 49.0% and 48.9%, respectively
  • Repurchase of 506,000 shares in the fourth quarter and 1.5 million shares in FY 2013

*The Company's GAAP and non-GAAP results include approximately $11.0 million of incremental tax benefit, or $0.12 per diluted share, related to the notification from the Internal Revenue Service that the Joint Committee on Taxation took no exception to the Company's tax returns that were filed for 2009 and 2010, eliminating the uncertainty regarding refund claims filed in connection with these returns.

PITTSBURGH, Feb. 27, 2014 (GLOBE NEWSWIRE) -- ANSYS, Inc. (Nasdaq:ANSS) today reported fourth quarter non-GAAP revenue growth of 7% in constant currency, while non-GAAP net income increased 22% compared to Q4 2012. 2013 non-GAAP revenue increased 9% in constant currency, while non-GAAP net income increased 13% compared to 2012. Non-GAAP diluted earnings per share increased 22% for the quarter and 12% for 2013.

Commenting on the Company's fourth quarter and fiscal year 2013 performance, Jim Cashman, ANSYS president & CEO, stated, "We closed out 2013 with solid quarterly and annual financial performance, with the business delivering revenue growth, strong margins and cash flows. Throughout the year, we continued to invest in our global organization, our technology offerings and our business infrastructure, while also delivering profitable growth. We released ANSYS ® 15.0 during the fourth quarter, widening our technological leadership advantage and uniquely positioning us to capitalize on the global trends in engineering. As companies in every industry move closer to the new mindset of system-level engineering, ANSYS stands ready with leading multiphysics tools, a robust and responsive knowledge management system and a shared technology platform that delivers high-impact results."

ANSYS' fourth quarter and 2013 financial results are presented below. The 2013 and 2012 non-GAAP results exclude the income statement effects of acquisition accounting adjustments to deferred revenue, as well as the impact of stock-based compensation, acquisition-related amortization of intangible assets and transaction costs related to acquisitions.

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