ANSYS Announces Q1 2018 Financial Results: a Strong Start Reflecting Record First Quarter Revenue, EPS and Operating Cash Flows


 
ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended
  ASC 606  ASC 605  ASC 605
(in thousands, except per share data) March 31,
2018
  March 31,
2018
  March 31,
2017
Revenue:     
Software licenses $ 110,046   $ 154,857  $141,908 
Maintenance and service 172,827   129,712  111,497 
   Total revenue 282,873   284,569  253,405 
Cost of sales:     
Software licenses 3,911   8,146  9,277 
Amortization 8,786   8,786  8,936 
Maintenance and service 26,341   22,106  18,818 
   Total cost of sales 39,038   39,038  37,031 
Gross profit 243,835   245,531  216,374 
Operating expenses:     
Selling, general and administrative 87,809   87,809  73,417 
Research and development 57,530   57,530  54,378 
Amortization 3,435   3,435  3,107 
   Total operating expenses 148,774   148,774  130,902 
Operating income 95,061   96,757  85,472 
Interest income 2,285   2,285  1,249 
Other expense, net (308 )  (308 ) (1,154)
Income before income tax provision 97,038   98,734  85,567 
Income tax provision 12,758   12,981  22,261 
Net income $ 84,280   $ 85,753     $ 63,306  
Earnings per share – basic:          
Earnings per share $ 1.00     $ 1.02     $ 0.74  
Weighted average shares 83,931     83,931     85,456  
Earnings per share – diluted:          
Earnings per share $ 0.98     $ 1.00     $ 0.73  
Weighted average shares 86,152     86,152     87,224  
 

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