ANSYS, Inc. Reports Record Revenue and Earnings in Second

ANSYS, Inc. Reports Record Revenue and Earnings in Second Quarter 2012

These statements are forward-looking and actual results may differ materially. ANSYS is unable to predict the likely duration and severity of the current disruption in the domestic and global economies. Should these economic conditions continue to deteriorate further, it could result in ANSYS not meeting the guidance provided above and ANSYS' operating results and financial performance could be adversely affected. Non-GAAP diluted earnings per share is a supplemental financial measure and should not be considered as a substitute for, or superior to, diluted earnings per share determined in accordance with GAAP.

Conference Call Information

ANSYS will hold a conference call at 10:30 a.m. Eastern Time on August 2, 2012 to discuss second quarter results. The Company will provide its prepared remarks on the Company's investor relations homepage and as an exhibit in its Form 8-K in advance of the call to provide shareholders and analysts with additional time and detail for analyzing its results in preparation for the conference call. The prepared remarks will not be read on the call – only brief remarks will be made prior to the Q&A session.

To participate in the live conference call, dial 800-860-2442 (US) or 412-858-4600 (Canada & Int'l). The call will be recorded and a replay will be available approximately one hour after the call ends. The replay will be available for 10 days by dialing 877-344-7529 (US), or 412-317-0088 (Canada and Int'l) and entering the passcode 10016283. The archived webcast can be accessed, along with other financial information, on ANSYS' web site at http://investors.ansys.com.


ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)


		June 30, 2012	December 31, 2011

Cash & short-term investments		$ 551,952	$ 472,404
Accounts receivable, net		83,935	84,602
Goodwill		1,228,068	1,225,375
Other intangibles, net		348,723	383,420
Other assets		300,544	282,669

	Total assets	$ 2,513,222	$ 2,448,470


LIABILITIES & STOCKHOLDERS' EQUITY:

Deferred revenue		$ 293,563	$ 259,155
Long-term debt (including current portion)		106,298	127,572
Other liabilities		292,512	307,270
Stockholders' equity		1,820,849	1,754,473

Total liabilities & stockholders' equity		$ 2,513,222	$ 2,448,470


ANSYS, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)

		Three Months Ended		Six Months Ended
		June 30, 2012	June 30, 2011	June 30, 2012	June 30, 2011
Revenue:
	Software licenses	$ 123,352	$ 97,436	$ 236,906	$ 193,303
	Maintenance and service	71,664	64,822	143,455	127,002

	Total revenue	195,016	162,258	380,361	320,305

Cost of sales:
	Software licenses	6,289	3,030	12,285	5,924
	Amortization	10,125	7,502	20,339	15,000
	Maintenance and service	18,323	17,531	36,455	33,721
	Total cost of sales	34,737	28,063	69,079	54,645

Gross profit		160,279	134,195	311,282	265,660

Operating expenses:
	Selling, general and administrative	48,980	40,130	94,229	80,606
	Research and development	33,415	25,182	64,916	49,880
	Amortization	6,750	4,070	13,175	8,087
	Total operating expenses	89,145	69,382	172,320	138,573

Operating income		71,134	64,813	138,962	127,087

Interest expense		(723)	(774)	(1,541)	(1,577)
Interest income		887	712	1,788	1,407
Other expense, net		(39)	(108)	(655)	(622)

Income before income tax provision		71,259	64,643	138,554	126,295

Income tax provision		20,997	19,212	42,753	38,623

Net income		$ 50,262	$ 45,431	$ 95,801	$ 87,672

Earnings per share – basic:
	Basic earnings per share	$ 0.54	$ 0.49	$ 1.03	$ 0.95
	Weighted average shares – basic	92,626	91,940	92,722	91,854


Earnings per share - diluted:
	Diluted earnings per share	$ 0.53	$ 0.48	$ 1.01	$ 0.93
	Weighted average shares – diluted	94,928	94,188	95,059	94,179

ANSYS, INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Measures *(Unaudited)* *(in thousands, except percentages and per share data)*
	Three Months Ended

	June 30, 2012			June 30, 2011

	As Reported	Non-GAAP Adjustments	Results	As Reported	Non-GAAP Adjustments	Results

Total revenue	$195,016	$ 841 ⁽¹⁾	$195,857	$162,258		$162,258
Operating income	71,134	26,406 ⁽²⁾	97,540	64,813	$18,745 ⁽⁴⁾	83,558
Operating profit margin	36.5%		49.8%	39.9%		51.5%
Net income	$ 50,262	$17,829 ⁽³⁾	$ 68,091	$ 45,431	$13,129 ⁽⁵⁾	$ 58,560
Earnings per share - diluted:
Diluted earnings per share	$ 0.53		$ 0.72	$ 0.48		$ 0.62
Weighted average shares - diluted	94,928		94,928	94,188		94,188

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