ANSYS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(in thousands, except per share data)

(Unaudited)

Three Months Ended

Nine Months Ended

September 30,

2012

September 30,

 2011

September 30,

 2012

September 30,

 2011

Revenue:

Software licenses

$123,027

$104,477

$359,933

$297,780

Maintenance and service

73,882

68,458

217,337

195,460

     Total revenue

196,909

172,935

577,270

493,240

Cost of sales:

Software licenses

5,473

4,220

17,758

10,144

Amortization    

10,244

8,993

30,583

23,993

Maintenance and service

18,039

17,814

54,494

51,535

     Total cost of sales

33,756

31,027

102,835

85,672

Gross profit

163,153

141,908

474,435

407,568

Operating expenses:

Selling, general and administrative

49,195

43,180

143,424

123,786

Research and development

33,506

28,899

98,422

78,779

Amortization

6,800

4,500

19,975

12,587

     Total operating expenses

89,501

76,579

261,821

215,152

Operating income

73,652

65,329

212,614

192,416

Interest expense

(632)

(753)

(2,173)

(2,330)

Interest income

774

789

2,562

2,196

Other (expense) income, net

(355)

78

(1,010)

(544)

Income before income tax provision

73,439

65,443

211,993

191,738

Income tax provision

21,820

19,897

64,573

58,520

Net income

$51,619

$45,546

$147,420

$133,218

Earnings per share – basic:

Basic earnings per share

$0.56

$0.49

$1.59

$1.45

Weighted average shares – basic

92,448

92,277

92,631

91,995

Earnings per share - diluted:

Diluted earnings per share

$0.54

$0.48

$1.55

$1.41

Weighted average shares – diluted

94,755

94,445

94,958

94,268