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ANSYS posts record first quarter

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CANONSBURG – ANSYS Inc. saw its first-quarter revenue grow 13 percent to $253.4 million or 73 cents per share.

The Southpointe-based provider of engineering simulation software also reported deferred revenue and backlog of $652.6 million for the quarter ended March 31, an increase of 29 percent of the comparable quarter of 2016. The company, which reported results after the close of Wednesday’s stock market, said in a press release that recurring revenue, which is comprised of lease license and annual maintenance revenue, totaled 78 percent of revenue for the first quarter. It also reported 16 percent growth in diluted earnings per share on both a GAAP and non-GAAP basis.

“Innovative companies rely on ANSYS’ industry-leading solutions to tame productcomplexity and improve time to market, said Ajei Gopal, ANSYS president and CEO. “Our strong start to the year demonstrates that customer demand for ANSYS’ product portfolio is stronger than ever,” he said. “I am delighted to see our focus on sales execution has resulted in substantial year-over-year growth in software license revenues, in double-digit revenue growth in both North America and Asia-Pacific, and in continued solid performance from our channel partners, most notably in China, India, and South Korea.”

“The underlying fundamentals of our business performed above the high end of our expectations as evidenced by our record first quarter revenue, deferred revenue and backlog, and cash flows,” said CFO Maria Shields. “Earnings were also very strong for the quarter, growing double digits, and our operating margin was above the high end of our guidance, driven by the over-performance in revenues.”

The company repurchased 1 million shares in the first quarter at an average price of $100.35 per share.

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