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Strong Organic Growth Propels ANSYS in Third Quarter

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Randall S. Newton, November 19, 2007

Simulation software vendor ANSYS, Inc. (NASDAQ: ANSS), last week said strong organic revenue led to a new company record for third quarter non-GAAP operating results. ANSYS raised company guidance for the full fiscal year during its earnings report, and provided initial outlook for the 2008 fiscal year.

Total revenue for the third quarter of 2007 (ending September 30) was $94.0 million, up from $70.1 million year-over. The record ANSYS cites is for non-GAAP organic revenue growth of 21.5% (18% in constant currencies).


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Net income was $18.7 million, up from $8.4 million year over. A sequential analysis of ANSYS growth in the last three quarters would suggest that sales growth slowed in the current quarter. But this is the first quarter of a new “apples-to-apples” comparison, to quote CEO Jim Cashman; the Fluent acquisition is more than a year old.

Revenue from software was $61 million in the quarter, up from $42.2 year-over. Maintenance and service revenue was $32.9 million, up from $27.9 million year-over.

ANSYS shares gained 54 cents, to $39.35, in trading immediately following the earnings announcement. The stock closed yesterday at $39.20, near its 52-week high of $41.95.

 

The full article is available for a fee at CADCAMNet.