Ansys Tops Estimates
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.