Strong Organic Growth Propels ANSYS in Third Quarter
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Randall S. Newton, November 19, 2007
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
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.
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