PITTSBURGH, Penn., May 5 — ANSYS, Inc. (NASDAQ: ANSS), today announced its financial results for the first quarter of 2016. The Company reported GAAP and non-GAAP revenue growth in constant currency of 6% and 5%, respectively, and GAAP and non-GAAP diluted earnings per share of $0.63 and $0.77, respectively, for the quarter. Recurring revenue, which is comprised of lease license and maintenance revenue, totaled 78% of revenue for the first quarter.
“Our first quarter results reflect a solid start to the year with strong contributions from markets such as India and China, partially offset by less than expected growth in Europe and North America. We are highly focused on improving direct and indirect sales execution, enhancing our growth rates and continuing to generate returns for our shareholders over the long-term. Through solid internal execution and discipline, we achieved strong margins and earnings, we generated over $100 million in operating cash flow and we continued to return capital to shareholders through our recently increased share repurchase plan,” commented Jim Cashman, ANSYS President and Chief Executive Officer.
He continued, “During Q1, we signed an enterprise license agreement of over $10 million with one of our long-standing industrial equipment customers, successfully completing the largest displacement of a competitor’s mechanical code in our history, and ultimately proved that the ANSYS solutions are more capable, accurate and faster. As we have observed our customers’ historical buying preferences evolving, we have recently expanded our licensing offerings, introducing a new elastic licensing model in the first quarter. Providing usage-based access to virtually our entire portfolio is yet another significant differentiator for ANSYS and an additional means to reach a greater number of users.”
Second Quarter and Fiscal Year 2016 Guidance
The Company currently expects the following for the quarter ending June 30, 2016:
- GAAP revenue in the range of $240.0 – $248.0 million
- Non-GAAP revenue in the range of $240.0 – $248.0 million
- GAAP diluted earnings per share of $0.69 – $0.75
- Non-GAAP diluted earnings per share of $0.86 – $0.90
The Company currently expects the following for the fiscal year ending December 31, 2016:
- GAAP revenue in the range of $990.0 – $1,020 million ($1.02 billion)
- Non-GAAP revenue in the range of $990.0 – $1,020 million ($1.02 billion)
- GAAP diluted earnings per share of $2.81 – $2.98
- Non-GAAP diluted earnings per share of $3.48 – $3.62
About ANSYS, Inc.
ANSYS brings clarity and insight to customers’ most complex design challenges through fast, accurate and reliable engineering simulation. Our technology enables organizations ― no matter their industry ― to predict with confidence that their products will thrive in the real world. Customers trust our software to help ensure product integrity and drive business success through innovation. Founded in 1970, ANSYS employs almost 3,000 professionals, many of them experts in engineering fields such as finite element analysis, computational fluid dynamics, electronics and electromagnetics, and design optimization. Headquartered south of Pittsburgh, Pennsylvania, U.S.A., ANSYS has more than 75 strategic sales locations throughout the world with a network of channel partners in 40+ countries.
Source: ANSYS