ANSYS, Inc. today reported second quarter 2017 GAAP and non-GAAP revenue growth of 8% in constant currency. Recurring revenue, which is comprised of lease license and annual maintenance revenue, grew by double-digits in constant currency and totaled 76% of revenue for the second quarter, on both a GAAP and non-GAAP basis. The Company also reported 3% and 6% growth in diluted earnings per share on a GAAP and non-GAAP basis, respectively.
Ajei Gopal, ANSYS President and CEO, commented, “I am delighted to see our focus on sales execution has resulted in another quarter of excellent financial performance that surpassed the high end of our expectations for both revenue and earnings. Our second quarter success was led by 13% revenue growth in our business in North America and 7% growth in Asia, and is a testament to the strength of our product portfolio and our strong customer relationships. Europe continues to lag, but we are making good progress in addressing the organizational and go-to-market issues that will be key to future performance.”
Gopal further stated, “With the acquisition of Computational Engineering International, we have added industry-leading visualization and post-processing capabilities to our broad portfolio. Our expanded capabilities will enable our customers to gain new insight as they increasingly rely on our simulation capabilities to drive innovation and develop the products of tomorrow.”
Maria Shields, ANSYS CFO, stated, “We posted another quarter of strong operating results as evidenced by record second quarter revenue, deferred revenue and backlog, and operating cash flows. Our operating margin and earnings performance were both above the high end of our guidance, driven by the over-performance in revenues and a slower pace of hiring than planned. We also continued to return capital to our stockholders through the repurchase of an incremental one million shares. In addition, during the quarter, we achieved another important milestone in our history as a public company by joining the ranks of America’s leading companies in the S&P 500.”
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