ANSYS Announces Q2 2017 Financial Results: An Excellent Quarter Reflecting Record Q2 Revenue, EPS and Operating Cash Flows

(5) Amount represents the impact of the adjustments to operating income referred to in (4) above, adjusted for the related income tax impact of $7.7 million.

 
ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures
(Unaudited)
  Six Months Ended
  June 30, 2017   June 30, 2016
(in thousands, except percentages and per share data) As
Reported
   Adjustments  Non-
GAAP
Results
   As
Reported
   Adjustments  Non-
GAAP
Results
Total revenue$517,329   $567 (1)  $517,896   $471,975   $103 (4)  $472,078 
Operating income183,866   61,274 (2)  245,140   179,177   41,105 (5)  220,282 
Operating profit margin35.5%    47.3%  38.0%    46.7%
Net income$133,036   $30,842 (3)  $163,878   $126,096   $26,507 (6)  $152,603 
Earnings per share – diluted:              
Earnings per share$1.53     $1.88   $1.41     $1.70 
Weighted average shares87,060     87,060   89,694     89,694 

(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(2) Amount represents $24.6 million of stock-based compensation expense, $24.1 million of amortization expense associated with intangible assets acquired in business combinations, $11.3 million of restructuring charges, $0.7 million of transaction expenses related to business combinations and the $0.6 million adjustment to revenue as reflected in (1) above.

(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $30.4 million.

(4) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(5) Amount represents $25.4 million of amortization expense associated with intangible assets acquired in business combinations, $15.6 million of stock-based compensation expense and the $0.1 million adjustment to revenue as reflected in (4) above.

(6) Amount represents the impact of the adjustments to operating income referred to in (5) above, adjusted for the related income tax impact of $14.6 million.

 
ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Forward-Looking Guidance
Quarter Ending September 30, 2017
    Earnings Per Share
Range - Diluted
U.S. GAAP expectation   $0.71 - $0.80
Adjustment to exclude acquisition adjustments to deferred revenue   $0.01
Adjustment to exclude acquisition-related amortization   $0.09 - $0.10
Adjustment to exclude stock-based compensation   $0.07 - $0.10
Adjustment to exclude restructuring charges   $0.01 - $0.02
Non-GAAP expectation   $0.94 - $0.98

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