Ansys Announces Q1 2020 Financial Results

ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)
*(in thousands)*	March 31, 2020		December 31, 2019
ASSETS:
Cash & short-term investments	$	718,030	$	872,382
Accounts receivable, net	337,105		433,479
Goodwill	2,398,684		2,413,280
Other intangibles, net	458,136		476,711
Other assets	614,130		643,035
Total assets	$	4,526,085	$	4,838,887
LIABILITIES & STOCKHOLDERS' EQUITY:
Current deferred revenue	$	352,964	$	351,353
Long-term debt	423,607		423,531
Other liabilities	457,164		610,624
Stockholders' equity	3,292,350		3,453,379
Total liabilities & stockholders' equity	$	4,526,085	$	4,838,887

ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
	Three Months Ended
*(in thousands, except per share data)*	March 31, 2020			March 31, 2019
Revenue:
Software licenses	$	87,830		$	123,044
Maintenance and service	217,155			194,086
Total revenue	304,985			317,130
Cost of sales:
Software licenses	4,926			4,708
Amortization	9,552			4,547
Maintenance and service	35,638			25,560
Total cost of sales	50,116			34,815
Gross profit	254,869			282,315
Operating expenses:
Selling, general and administrative	130,522			112,169
Research and development	86,112			70,738
Amortization	4,162			3,759
Total operating expenses	220,796			186,666
Operating income	34,073			95,649
Interest income	2,775			3,442
Interest expense	(3,651		)	(91		)
Other income (expense), net	127			(334		)
Income before income tax provision	33,324			98,666
Income tax (benefit) provision	(12,740		)	12,436
Net income	$	46,064		$	86,230
Earnings per share – basic:
Earnings per share	$	0.54		$	1.03
Weighted average shares	85,798			83,764
Earnings per share – diluted:
Earnings per share	$	0.53		$	1.01
Weighted average shares	87,369			85,493

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