Ansys Tops Estimates

The company bumps up full-year guidance.
By Ivy Lessner ,

SAN FRANCISCO -- On the strength of a big first-quarter earnings beat, Ansys (ANSS) - Get Report 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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