The non-GAAP financial results highlighted above, and the non-GAAP financial outlook for 2016 discussed below, represent non-GAAP financial measures. Reconciliations of these measures to the appropriate GAAP measures, for the three months and six months ended June 30, 2016 and 2015, and for the 2016 financial outlook, are included in the condensed financial information included in this release.

Management's Remaining 2016 Financial Outlook

The Company has provided its third quarter and updated its 2016 revenue and earnings per share guidance below. The revenue and earnings per share guidance is provided on both a GAAP basis and a non-GAAP basis. Third quarter and fiscal year 2016 non-GAAP diluted earnings per share exclude the income statement effects of acquisition accounting adjustments to deferred revenue, stock-based compensation expense, acquisition-related amortization of intangible assets and acquisition-related transaction expenses.

Third Quarter and Fiscal Year 2016 Guidance

The Company currently expects the following for the quarter ending September 30, 2016:

• GAAP and non-GAAP revenue in the range of $244 - $253 million
• GAAP diluted earnings per share of $0.73 - $0.78 
• Non-GAAP diluted earnings per share of $0.90 - $0.94

The Company currently expects the following for the fiscal year ending December 31, 2016:

• GAAP and non-GAAP revenue in the range of $990 - $1,010 million ($1.01 billion)
• GAAP diluted earnings per share of $2.93 - $3.06
• Non-GAAP diluted earnings per share of $3.57 - $3.67

Conference Call Information

ANSYS will hold a conference call at 10:30 a.m. Eastern Time on August 4, 2016 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 855-239-2942 (US) or 412-542-4124 (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), (855) 669-9658 (Canada) or 412-317-0088 (Int’l) and entering the passcode 10089891. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com/events-and-presentations/events.aspx.