ANSYS Announces Q1 2017 Financial Results: A Record First Quarter Reflecting Double-Digit Growth in Bookings, Revenue, EPS and Operating Cash Flow

Second Quarter 2017 Guidance

The Company currently expects the following for the quarter ending June 30, 2017:

  • GAAP revenue in the range of $253.6 - $262.6 million
  • Non-GAAP revenue in the range of $254.0 - $263.0 million
  • GAAP diluted earnings per share of $0.66 - $0.76
  • Non-GAAP diluted earnings per share of $0.88 - $0.93

Fiscal Year 2017 Guidance

The Company currently expects the following for the fiscal year ending December 31, 2017:

  • GAAP revenue in the range of $1.029 - $1.057 billion
  • Non-GAAP revenue in the range of $1.030 - $1.058 billion
  • GAAP diluted earnings per share of $2.91 - $3.17
  • Non-GAAP diluted earnings per share of $3.68 - $3.85

Conference Call Information

ANSYS will hold a conference call at 8:30 a.m. Eastern Time on May 4, 2017 to discuss first quarter results. The Company will provide its prepared remarks on the Company’s investor relations homepage and as an exhibit in its Form 8-K in advance of the call to provide shareholders and analysts with additional time and detail for analyzing its results in preparation for the conference call. The prepared remarks will not be read on the call - only brief remarks will be made prior to the Q&A session.

To participate in the live conference call, dial 855-239-2942 (US) or 412-542-4124 (Canada & Int’l). The call will be recorded and a replay will be available approximately one hour after the call ends. The replay will be available for 10 days by dialing (877) 344-7529 (US), (855) 669-9658 (Canada) or (412) 317-0088 (Int’l) and entering the passcode 10105133. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com/events-and-presentations/events.aspx

ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands) March 31, 2017  December 31, 2016
ASSETS:   
Cash & short-term investments$866,556  $822,860 
Accounts receivable, net92,332  107,192 
Goodwill1,340,391  1,337,215 
Other intangibles, net164,112  172,619 
Other assets331,302  360,640 
Total assets$2,794,693  $2,800,526 
LIABILITIES & STOCKHOLDERS' EQUITY:   
Deferred revenue$414,708  $403,279 
Other liabilities168,540  188,842 
Stockholders' equity2,211,445  2,208,405 
Total liabilities & stockholders' equity$2,794,693  $2,800,526 


ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended
(in thousands, except per share data) March 31,
 2017
  March 31,
 2016
Revenue:   
Software licenses$141,908  $126,051 
Maintenance and service111,497  99,855 
Total revenue253,405  225,906 
Cost of sales:   
Software licenses9,277  6,738 
Amortization8,936  9,511 
Maintenance and service18,818  19,036 
Total cost of sales37,031  35,285 
Gross profit216,374  190,621 
Operating expenses:   
Selling, general and administrative 73,417     57,769  
Research and development 54,378     44,672  
Amortization 3,107     3,158  
Total operating expenses 130,902     105,599  
Operating income 85,472     85,022  
Interest expense      
Interest income 1,249     950  
Other expense, net (1,154 )   (194 )
Income before income tax provision 85,567     85,778  
Income tax provision 22,261     29,310  
Net income $ 63,306     $ 56,468  
Earnings per share – basic:      
Earnings per share $ 0.74     $ 0.64  
Weighted average shares 85,456     88,114  
Earnings per share – diluted:      
Earnings per share $ 0.73     $ 0.63  
Weighted average shares 87,224     90,084  

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