ANSYS, Inc. Reports Record Third Quarter Results Highlighting Strong Margins And EPS

Highlights
  • GAAP revenue of $212.7 million and non-GAAP revenue of $213.4 million
  • GAAP diluted earnings per share of $0.66* and non-GAAP diluted earnings per share of $0.83*
  • Operating cash flows of $65.4 million
  • GAAP operating profit margin of 38.4% and non-GAAP operating profit margin of 49.8%

*The Company's GAAP results include approximately $5.6 million, or $0.06 per share, related to incremental tax benefits beyond the Company's forecasted effective tax rate range of 30.5% - 31.5%. These incremental benefits relate mainly to legal entity restructuring, cash repatriation activities and adjustments to reserves for uncertain tax positions. The non-GAAP results include approximately $4.8 million, or $0.05 per share, in incremental tax benefits related to these activities.

PITTSBURGH, Nov. 7, 2013 (GLOBE NEWSWIRE) -- ANSYS, Inc. (Nasdaq:ANSS), today announced third quarter 2013 non-GAAP revenue growth of 9% in constant currency, while non-GAAP net income increased 12% compared to Q3 2012. Year-to-date non-GAAP revenue increased 10% in constant currency, while non-GAAP net income increased 9% compared to the first nine months of 2012. Non-GAAP earnings per share increased 12% for the quarter and 9% for the first nine months of 2013, each as compared to the same period in 2012.

Commenting on the Company's third quarter 2013 performance, Jim Cashman, ANSYS president & CEO stated, "Our Q3 results continue to reflect the strength of our resilient business model and dedication to delivering on our commitments, balanced against the realities of operating in a less than robust global economy. This is evidenced by the results in both North America and Europe, which experienced double-digit revenue growth in both reported and constant currency for the quarter. Consistent with what other technology companies are experiencing, during the quarter, we continued to see regional weakness in our Asia-Pacific business. Overall, our results for the quarter reflected strong earnings which exceeded the high end of our guidance range, revenues slightly above the mid-point of our guidance, and solid operating margins and cash flows from operations. We continue to see strong customer interest across our broad portfolio, from our largest global enterprise customers all the way to the SMB businesses. We expect the macroeconomic challenges and longer sales cycles that have been the reality for the past nine months to continue through the remainder of 2013 and into 2014. We remain confident in the long-term opportunity and are excited about an important upcoming milestone, the release of ANSYS® 15.0. This next release of our complete product portfolio will be even more formidable, positioning us well to deliver long-term value to our customers and stockholders."

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