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Ansys reports record 2014 revenue, hits $1B in sales

2 min read

Engineering simulation software developer Ansys Inc. Thursday reported fourth quarter revenue of $254.4 million, an $18 million or 8 percent increase over the $236 million it reported for the comparable quarter of 2013.

The company also reported a historic milestone, booking more than $1 billion in sales for the first time.

The Southpointe-based company said in a news release it earned $69.6 million, which was down 8 percent from the $75.9 million earned in the fourth quarter of 2013. It said the earnings decline reflected stock-based compensation charges of $9.3 million ($6.1 million after tax) or 6 cents of earnings per share for the fourth quarter.

The company also reported annual revenue of $936 million, up 9 percent from 2013. Net income for the year was $254.7 million, up 4 percent from the previous year.

“We had a very strong finish to the year, achieving record revenue and earnings, both of which surpassed the high end of our expectations,” said Chief Executive Officer Jim Cashman.

Ansys, whose software is used by engineers and product designers at companies around the world, also noted revenues were strong regardless of where its software was sold.

“Most importantly,” Cashman said, “we delivered double digit revenue growth in constant currency for the quarter.”

Cashman also reported the company achieved a milestone in 2014, surpassing $1 billion in total sales bookings, which contributed to record cash flows that increased 16 percent over fiscal year 2013.

“We closed the year with a total deferred revenue and backlog balance of $468 million, an increase of 14 percent over 2013,” he said.

Ansys announced a repurchase of 1.5 million shares in the fourth quarter and a total of 3 million shares in fiscal year 2014.

Cashman noted the company, which in January released Ansys 16.0, which it said is the world’s most advanced simulation software, is well positioned for the upcoming year.

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