| (in millions) |
Other Financial
Metrics |
| ACV | $1,252.0 - $1,282.0 |
| Operating cash flows | $435.0 - $470.0 |
Conference Call Information
ANSYS will hold a conference call at 8:30 a.m. Eastern Time on August 7, 2018 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 and 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 within two hours after the call. The replay will be available by dialing (877) 344-7529 (US), (855) 669-9658 (Canada) or (412) 317-0088 (Int’l) and entering the passcode 10122343. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com/events-and-presentations/events.aspx.
| ANSYS, INC. AND SUBSIDIARIES | |||||||||||
| Condensed Consolidated Balance Sheets | |||||||||||
| (Unaudited) | |||||||||||
| ASC 606 | ASC 605 | ASC 605 | |||||||||
| (in thousands) | June 30, 2018 | June 30, 2018 |
December 31,
2017 | ||||||||
| ASSETS: | |||||||||||
| Cash & short-term investments | $ | 696,163 | $ | 696,163 | $ | 881,787 | |||||
| Accounts receivable, net | 258,280 | 102,762 | 124,659 | ||||||||
| Goodwill | 1,575,276 | 1,575,276 | 1,378,553 | ||||||||
| Other intangibles, net | 229,654 | 229,654 | 157,625 | ||||||||
| Other assets | 298,877 | 412,034 | 398,999 | ||||||||
| Total assets | $ | 3,058,250 | $ | 3,015,889 | $ | 2,941,623 | |||||
| LIABILITIES & STOCKHOLDERS' EQUITY: | |||||||||||
| Current deferred revenue | $ | 306,879 | $ | 462,575 | $ | 440,491 | |||||
| Other liabilities | 243,892 | 239,601 | 255,301 | ||||||||
| Stockholders' equity | 2,507,479 | 2,313,713 | 2,245,831 | ||||||||
| Total liabilities & stockholders' equity | $ | 3,058,250 | $ | 3,015,889 | $ | 2,941,623 | |||||
| ANSYS, INC. AND SUBSIDIARIES | |||||||||||||||||||||||
| Condensed Consolidated Statements of Income | |||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| ASC 606 | ASC 605 | ASC 605 | ASC 606 | ASC 605 | ASC 605 | ||||||||||||||||||
| (in thousands, except per share data) |
June 30,
2018 |
June 30,
2018 |
June 30,
2017 |
June 30,
2018 |
June 30,
2018 |
June 30,
2017 | |||||||||||||||||
| Revenue: | |||||||||||||||||||||||
| Software licenses | $ | 131,147 | $ | 161,193 | $ | 149,880 | $ | 241,193 | $ | 316,050 | $ | 291,788 | |||||||||||
| Maintenance and service | 174,766 | 132,833 | 114,044 | 347,593 | 262,545 | 225,541 | |||||||||||||||||
| Total revenue | 305,913 | 294,026 | 263,924 | 588,786 | 578,595 | 517,329 | |||||||||||||||||
| Cost of sales: | |||||||||||||||||||||||
| Software licenses | 4,099 | 8,444 | 7,525 | 8,010 | 16,590 | 16,802 | |||||||||||||||||
| Amortization | 9,087 | 9,087 | 8,952 | 17,873 | 17,873 | 17,888 | |||||||||||||||||
| Maintenance and service | 27,264 | 22,919 | 19,861 | 53,605 | 45,025 | 38,679 | |||||||||||||||||
| Total cost of sales | 40,450 | 40,450 | 36,338 | 79,488 | 79,488 | 73,369 | |||||||||||||||||
| Gross profit | 265,463 | 253,576 | 227,586 | 509,298 | 499,107 | 443,960 | |||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Selling, general and administrative | 95,058 | 95,058 | 77,051 | 182,867 | 182,867 | 150,468 | |||||||||||||||||
| Research and development | 58,357 | 58,357 | 49,002 | 115,887 | 115,887 | 103,380 | |||||||||||||||||
| Amortization | 3,495 | 3,495 | 3,139 | 6,930 | 6,930 | 6,246 | |||||||||||||||||
| Total operating expenses | 156,910 | 156,910 | 129,192 | 305,684 | 305,684 | 260,094 | |||||||||||||||||
| Operating income | 108,553 | 96,666 | 98,394 | 203,614 | 193,423 | 183,866 | |||||||||||||||||
| Interest income | 2,176 | 2,176 | 1,668 | 4,461 | 4,461 | 2,917 | |||||||||||||||||
| Other expense, net | (1,007 | ) | (1,007 | ) | (190 | ) | (1,315 | ) | (1,315 | ) | (1,344 | ) | |||||||||||
| Income before income tax provision | 109,722 | 97,835 | 99,872 | 206,760 | 196,569 | 185,439 | |||||||||||||||||
| Income tax provision | 17,126 | 15,423 | 30,142 | 29,884 | 28,404 | 52,403 | |||||||||||||||||
| Net income | $ | 92,596 | $ | 82,412 | $ | 69,730 | $ | 176,876 | $ | 168,165 | $ | 133,036 | |||||||||||
| Earnings per share – basic: | |||||||||||||||||||||||
| Earnings per share | $ | 1.10 | $ | 0.98 | $ | 0.82 | $ | 2.11 | $ | 2.00 | $ | 1.56 | |||||||||||
| Weighted average shares | 84,105 | 84,105 | 85,167 | 84,018 | 84,018 | 85,311 | |||||||||||||||||
| Earnings per share – diluted: | |||||||||||||||||||||||
| Earnings per share | $ | 1.08 | $ | 0.96 | $ | 0.80 | $ | 2.06 | $ | 1.95 | $ | 1.53 | |||||||||||
| Weighted average shares | 85,986 | 85,986 | 86,895 | 86,069 | 86,069 | 87,060 | |||||||||||||||||
