ANSYS, Inc. Reports Q2 2016 Financial Results Highlighting Solid Revenue, Margin and EPS Performance





ANSYS, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)
                 
   Three Months Ended   Six Months Ended 
   June 30,
2016
  June 30,
 2015
  June 30,
 2016
  June 30,
 2015
 
Revenue:        
 Software licenses$  141,087  $  140,489  $  267,138  $  265,458  
 Maintenance and service 104,982   94,996   204,837   187,808  
          
   Total revenue 246,069   235,485   471,975   453,266  
          
Cost of sales:        
 Software licenses 6,534   6,950   13,272   14,159  
 Amortization 9,520   9,743   19,031   19,100  
 Maintenance and service 20,957   21,092   39,993   40,414  
   Total cost of sales 37,011   37,785   72,296   73,673   
                   
Gross profit   209,058       197,700       399,679       379,593        
                   
Operating expenses:                
  Selling, general and administrative   64,259       63,524         122,028         120,273    
  Research and development   47,443       42,646       92,115       82,655    
  Amortization   3,201       5,035       6,359       10,112    
    Total operating expenses   114,903       111,205       220,502       213,040    
                   
Operating income   94,155       86,495       179,177       166,553        
                   
Interest expense   (59 )       (122 )     (145 )     (276 )      
Interest income      1,077          795       2,027       1,451        
Other income, net   305       91       197       858        
                   
Income before income tax provision   95,478       87,259       181,256       168,586        
                   
Income tax provision   25,850       24,924       55,160       50,119        
                   
Net income $ 69,628     $ 62,335     $ 126,096     $ 118,467        
                 
Earnings per share – basic:                
  Basic earnings per share $ 0.79     $ 0.69     $ 1.43     $ 1.32    
  Weighted average shares – basic   87,638       89,866         87,876         89,962    
                 
                 
Earnings per share – diluted:                
  Diluted earnings per share $ 0.78     $ 0.68     $ 1.41     $   1.29    
  Weighted average shares – diluted   89,305       91,726       89,694       91,933    

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