Ansys Shares Climb on Strong Forecast - TheStreet

Ansys Shares Climb on Strong Forecast

The company also beats second-quarter earnings estimates.
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SAN FRANCISCO -- Higher guidance and a jump in second-quarter profit at Ansys (ANSS) - Get Report pushed up shares Thursday.

Revenue at the Canonsburg, Penn., maker of engineering-simulation software grew 20.6% to $111.2 million from $92.2 million for the same quarter of last year. Analysts were expecting $110.7 million, according to Thomson Reuters.

Net income jumped 54% to $28.1 million, or 34 cents a share, from $18.3 million, or 23 cents a share, in the year-ago period.

Excluding special charges, EPS was 42 cents. Analysts were looking for 38 cents a share.

Shares in Ansys rose $2.10, or 4.7%, to $46.85 in recent trading.

The company said it was raising guidance based on the performance during the first half of 2008 and completion of the acquisition of

Ansoft

on July 31. For the third quarter, Ansys projected revenue, excluding acquisition-related items such the write-down of deferred revenue and amortization of intangibles, of $123 million to $127 million and EPS of 36 cents or 37 cents. Analysts were expecting revenue of $116.3 million and EPS of 37 cents.

Excluding special items, Ansys raised full-year projections for revenue to a range of $493 million to $499 million and for EPS of $1.61 to $1.64. The company had previously projected a top line of $448 million to $452 million and EPS of $1.40 to $1.45. Analysts were expecting a top line of $466.3 million and earnings of $1.57 a share.

The company competes with

Parametric Technology

(PMTC)

and

Dassault Systemes

(DASTY)

.