ANSYS, Inc. Reports Record Revenue and Earnings in Second Quarter 2012

These statements are forward-looking and actual results may differ materially.  ANSYS is unable to predict the likely duration and severity of the current disruption in the domestic and global economies.  Should these economic conditions continue to deteriorate further, it could result in ANSYS not meeting the guidance provided above and ANSYS' operating results and financial performance could be adversely affected.  Non-GAAP diluted earnings per share is a supplemental financial measure and should not be considered as a substitute for, or superior to, diluted earnings per share determined in accordance with GAAP.

Conference Call Information

ANSYS will hold a conference call at 10:30 a.m. Eastern Time on August 2, 2012 to discuss second 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 800-860-2442 (US) or 412-858-4600 (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), or 412-317-0088 (Canada and Int'l) and entering the passcode 10016283. The archived webcast can be accessed, along with other financial information, on ANSYS' web site at http://investors.ansys.com.


ANSYS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited)






















June 30, 2012


December 31, 2011






Cash & short-term investments


$      551,952


$         472,404

Accounts receivable, net



83,935


84,602

Goodwill




1,228,068


1,225,375

Other intangibles, net




348,723


383,420

Other assets




300,544


282,669










Total assets




$  2,513,222


$     2,448,470

















LIABILITIES & STOCKHOLDERS' EQUITY:












Deferred revenue



$  293,563


$         259,155

Long-term debt (including current portion)



106,298


127,572

Other liabilities



292,512


307,270

Stockholders' equity



1,820,849


1,754,473









    Total liabilities & stockholders' equity


$       2,513,222


$      2,448,470





ANSYS, INC. AND SUBSIDIARIES

Consolidated Statements of Income

(in thousands, except per share data)

(Unaudited)












Three Months Ended


Six Months Ended



June 30,

2012


June 30,

2011


June 30,

2012


June 30,

2011

Revenue:









Software licenses

$  123,352


$  97,436


$  236,906


$  193,303


Maintenance and service

71,664


64,822


143,455


127,002











    Total revenue

195,016


162,258


380,361


320,305










Cost of sales:









Software licenses

6,289


3,030


12,285


5,924


Amortization

10,125


7,502


20,339


15,000


Maintenance and service

18,323


17,531


36,455


33,721


    Total cost of sales

34,737


28,063


69,079


54,645










Gross profit

160,279


134,195


311,282


265,660










Operating expenses:









Selling, general and administrative

48,980


40,130


94,229


80,606


Research and development

33,415


25,182


64,916


49,880


Amortization

6,750


4,070


13,175


8,087


    Total operating expenses

89,145


69,382


172,320


138,573










Operating income

71,134


64,813


138,962


127,087










Interest expense

(723)


(774)


(1,541)


(1,577)

Interest income

887


712


1,788


1,407

Other expense, net

(39)


(108)


(655)


(622)










Income before income tax provision

71,259


64,643


138,554


126,295










Income tax provision

20,997


19,212


42,753


38,623










Net income

$  50,262


$  45,431


$   95,801


$   87,672









Earnings per share – basic:









Basic earnings per share

$       0.54


$      0.49


$       1.03


$       0.95


Weighted average shares – basic

92,626


91,940


92,722


91,854

















Earnings per share - diluted:









Diluted earnings per share

$       0.53


$     0.48


$       1.01


$       0.93


Weighted average shares – diluted

94,928


94,188


95,059


94,179




ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures

(Unaudited)

(in thousands, except percentages and per share data)



Three Months Ended









June 30, 2012

June 30, 2011









As Reported

Non-GAAP Adjustments

Results

As Reported

Non-GAAP Adjustments

Results








Total revenue

$195,016

$     841 (1)

$195,857

$162,258


$162,258

Operating income

71,134

26,406 (2)

97,540

64,813

$18,745 (4)

83,558

Operating profit margin

36.5%


49.8%

39.9%


51.5%

Net income

$ 50,262

$17,829 (3)

$ 68,091

$ 45,431

$13,129 (5)

$  58,560

Earnings per share - diluted:







 Diluted earnings per share

$     0.53


$     0.72

$    0.48


$     0.62

 Weighted average shares - diluted

94,928


94,928

94,188


94,188





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