The Company's GAAP results reflect stock-based compensation charges of approximately $3.9 million ($3.1 million after tax) or $0.03 diluted earnings per share for the fourth quarter of 2009 and approximately $13.2 million ($10.5 million after tax) or $0.11 diluted earnings per share for 2009.
The non-GAAP financial results highlighted above, and the non-GAAP financial outlook for 2010 discussed below, represent non-GAAP financial measures. A reconciliation of these measures to the appropriate GAAP measures, for the three months and twelve months ended December 31, 2009 and 2008, and for the 2010 financial outlook, is included in the condensed financial information included in this release.
“During 2009 we further strengthened our infrastructure, our organization and our technology offerings, while still being able to deliver profitable growth. Looking ahead, all of the factors driving simulation remain in full force as companies strive to compete with next generation products, and with smarter products that are increasingly energy efficient and productive. While we anticipate ongoing pressure on customer capital spending and some prolonged sales cycles, our long-term enthusiasm for the future remains. With the prospects of global recovery that should strengthen with time, we continue to focus on our vision while operating a business that has demonstrated a fair amount of resiliency to economic uncertainty,” stated Mr. Cashman.
Management's 2010 Financial Outlook
The Company has updated its 2010 revenue and earnings per share guidance below. The earnings per share guidance is provided on both a GAAP basis and a non-GAAP basis. Non-GAAP diluted earnings per share excludes charges for stock-based compensation and acquisition-related amortization of intangible assets.
First Quarter 2010 Guidance
The Company currently expects
the following for the quarter ending March 31, 2010:
| Revenue in the range of | $125.0 - $131.0 million | |
| GAAP diluted earnings per share of | $0.28 - $0.32 | |
| Non-GAAP diluted earnings per share of | $0.40 - $0.43 |
Fiscal Year 2010 Outlook
The Company currently expects the
following for the fiscal year ending December 31, 2010:
| Revenue in the range of | $550.0 - $575.0 million | |
| GAAP diluted earnings per share of | $1.34 - $1.47 | |
| Non-GAAP diluted earnings per share of | $1.84 - $1.93 |
These statements are forward-looking and actual results may differ materially. ANSYS is unable to predict the likely duration and severity of the current disruption in the domestic and global economies. Should these economic conditions continue to deteriorate further, it could result in ANSYS not meeting the guidance provided above and ANSYS’ operating results and financial performance could be adversely affected. Non-GAAP diluted earnings per share is a supplemental financial measure and should not be considered as a substitute for, or superior to, diluted earnings per share determined in accordance with GAAP.
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