ANSYS Announces Q1 2017 Financial Results: A Record First Quarter Reflecting Double-Digit Growth in Bookings, Revenue, EPS and Operating Cash Flow


ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  March 31, 2017  March 31, 2016
(in thousands, except percentages and per share data) As
Reported
  Adjustments  Non-GAAP
Results
  As
Reported
  Adjustments  Non-GAAP
Results
Total revenue$253,405  $143 (1)$253,548  $225,906  $103 (4)$226,009 
Operating income85,472  32,111 (2)117,583  85,022  19,850 (5)104,872 
Operating profit margin33.7%   46.4% 37.6%   46.4%
Net income$63,306  $14,183 (3)$77,489  $56,468  $12,965 (6)$69,433 
Earnings per share – diluted:           
Earnings per share$0.73    $0.89  $0.63    $0.77 
Weighted average shares87,224    87,224  90,084    90,084 

(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(2) Amount represents $12.0 million of amortization expense associated with intangible assets acquired in business combinations, $10.5 million of stock-based compensation expense, $9.3 million of restructuring charges, $0.1 million of transaction expenses related to business combinations and the $0.1 million adjustment to revenue as reflected in (1) above.

(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $17.9 million.

(4) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(5) Amount represents $12.7 million of amortization expense associated with intangible assets acquired in business combinations, $7.1 million of stock-based compensation expense and the $0.1 million adjustment to revenue as reflected in (4) above.

(6) Amount represents the impact of the adjustments to operating income referred to in (5) above, adjusted for the related income tax impact of $6.9 million.

ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Forward-Looking Guidance
Quarter Ending June 30, 2017
  Earnings Per Share
Range - Diluted
U.S. GAAP expectation$0.66 - $0.76
Adjustment to exclude acquisition-related amortization$0.09 - $0.10
Adjustment to exclude stock-based compensation$0.07 - $0.09
Adjustment to exclude restructuring charges$0.01 - $0.03
Non-GAAP expectation$0.88 - $0.93


ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Forward-Looking Guidance
Year Ending December 31, 2017
  Earnings Per Share
Range - Diluted
U.S. GAAP expectation $2.91 - $3.17
Adjustment to exclude acquisition adjustments to deferred revenue $0.01
Adjustment to exclude acquisition-related amortization $0.35 - $0.37
Adjustment to exclude stock-based compensation $0.24 - $0.28
Adjustment to exclude restructuring charges $0.08 - $0.11
Non-GAAP expectation $3.68 - $3.85

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