The non-GAAP financial results highlighted above, and the non-GAAP financial outlook for 2017 discussed below, represent non-GAAP financial measures. Reconciliations of these measures to the appropriate GAAP measures, for the three months and twelve months ended December 31, 2016 and 2015, and for the 2017 financial outlook, are included in the condensed financial information included in this release.

2017 Financial Outlook

The Company's first quarter and fiscal year 2017 revenue and earnings per share guidance is provided below. The Company last provided its guidance on November 3, 2016.  The previously provided fiscal year 2017 guidance has been updated to reflect changes in currency exchange rates, as well as the Company's announced realignment initiatives.  The revenue and earnings per share guidance is provided on both a GAAP and a non-GAAP basis. Non-GAAP financial measures exclude the income statement effects of acquisition accounting adjustments to deferred revenue, stock-based compensation expense, acquisition-related amortization of intangible assets, restructuring charges and acquisition-related transaction expenses.

First Quarter 2017 Guidance

The Company currently expects the following for the quarter ending March 31, 2017:

• GAAP and non-GAAP revenue in the range of $237.0 - $246.0 million
• GAAP diluted earnings per share of $0.51 - $0.63 
• Non-GAAP diluted earnings per share of $0.81 - $0.85

Fiscal Year 2017 Guidance

The Company currently expects the following for the fiscal year ending December 31, 2017:

• GAAP and non-GAAP revenue in the range of $1.010 - $1.045 billion
• GAAP diluted earnings per share of $2.84 - $3.16
• Non-GAAP diluted earnings per share of $3.63 - $3.83

Conference Call Information

ANSYS will hold a conference call at 8:30 a.m. Eastern Time on February 23, 2017 to discuss fourth quarter and FY 2016 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 855-239-2942 (US) or 412-542-4124 (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), (855) 669-9658 (Canada) or 412-317-0088 (Int’l) and entering the passcode 10100291. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com/events-and-presentations/events.aspx.