CIMdata PLM Industry Summary Online Archive
2 May 2013
Financial News
ANSYS Delivers Record Revenue and Earnings for the First Quarter 2013
ANSYS, Inc. announced growth in both revenue and diluted earnings per share for the first quarter of 2013. Total GAAP revenue increased 7% over the first quarter of 2012 while total non-GAAP revenue increased 6%, or 9% in constant currency, over the first quarter of 2012. GAAP net income and diluted earnings per share increased by 12% and 13%, respectively, over the first quarter of 2012, while non-GAAP net income and diluted earnings per share each increased by 8%.
"Our Q1 results reflect a resilient business in a less than robust, and somewhat unpredictable, global economy. Most major metrics of the business performed as anticipated, highlighted by solid margins and earnings, a record deferred revenue and backlog balance of $399 million, and all-time high first quarter cash flows from operations of $95 million," commented Jim Cashman, ANSYS President and Chief Executive Officer. "These results reflect the impact of the persistent dedication and efforts of the global ANSYS team. We entered into the year with cautious optimism, and throughout the quarter we focused on those aspects of the business that we could control. While we continued to deliver on a number of key financial metrics, we also see opportunities as 2013 continues to unfold. We believe that we have a solid foundation and are well positioned to continue to invest in our business for the long term. We will continue to focus our efforts to capitalize on the global market opportunities for growth, leveraging our extensive customer base and technological leadership position to drive results and deliver on our commitments."
ANSYS' first quarter financial results are presented below. The 2013 and 2012 non-GAAP results exclude the income statement effects of acquisition adjustments to deferred revenue, as well as the impact of stock-based compensation and acquisition-related amortization of intangible assets. The 2013 non-GAAP results also exclude acquisition-related transaction costs.
GAAP and non-GAAP results reflect:
- GAAP revenue of $197.7 million in the first quarter of 2013 as compared to $185.3 million in the first quarter of 2012; non-GAAP revenue of $199.5 million in the first quarter of 2013 as compared to $187.5 million in the first quarter of 2012;
- A GAAP operating profit margin of 35.2% in the first quarter of 2013 as compared to 36.6% in the first quarter of 2012; a non-GAAP operating profit margin of 48.2% in the first quarter of 2013 as compared to 50.4% in the first quarter of 2012;
- GAAP net income of $51.0 million in the first quarter of 2013 as compared to $45.5 million in the first quarter of 2012; non-GAAP net income of $67.8 million in the first quarter of 2013 as compared to $62.9 million in the first quarter of 2012; and
- GAAP diluted earnings per share of $0.54 in the first quarter of 2013 as compared to $0.48 in the first quarter of 2012; non-GAAP diluted earnings per share of $0.71 in the first quarter of 2013 as compared to $0.66 in the first quarter of 2012.
The Company's GAAP results reflect stock-based compensation charges of approximately $8.8 million ($5.4 million after tax) or $0.06 diluted earnings per share for the first quarter of 2013.
The non-GAAP financial results highlighted above, and the non-GAAP financial outlook for 2013 discussed below, represent non-GAAP financial measures. Reconciliations of these measures to the appropriate GAAP measures for the three months ended March 31, 2013 and 2012, and for the 2013 financial outlook, are included in the condensed financial information included in this release.
To view an unabridged version of this press release, visit: http://anss.client.shareholder.com/releasedetail.cfm?ReleaseID=761270
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