ANSYS Announces Exceptional Q3 Results, With Double-Digit Growth in Revenue, EPS, ACV and Operating Cash Flow


ANSYS, INC. AND SUBSIDIARIES
ASC 606 Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  September 30, 2018
(in thousands, except percentages and per share data) GAAP
Results

 
Adjustments

   Non-GAAP 
Results
Total revenue $ 289,418   $ 3,548  (1 ) $ 292,966 
Operating income 93,024   35,889  (2 ) 128,913 
Operating profit margin 32.1 %    44.0 %
Net income $ 89,336   $ 23,557  (3 ) $ 112,893 
Earnings per share – diluted:     
Earnings per share $ 1.04     $ 1.31 
Weighted average shares 86,043     86,043 
 
(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 $23.0 million of stock-based compensation expense, $0.3 million of excess payroll taxes related to stock-based awards, $9.0 million of amortization expense associated with intangible assets acquired in business combinations and the $3.5 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, decreased for the related income tax impact of $11.7 million, a measurement-period adjustment related to the Tax Cuts and Jobs Act of $0.5 million, and rabbi trust income of $0.1 million.
            


ANSYS, INC. AND SUBSIDIARIES
ASC 606 Reconciliation of Non-GAAP Measures
(Unaudited)
  Nine Months Ended
  September 30, 2018
(in thousands, except percentages and per share data) GAAP
Results

  Adjustments
   Non-GAAP 
Results
Total revenue $ 878,204   $ 6,897  (1 ) $ 885,101 
Operating income 296,638   105,796  (2 ) 402,434 
Operating profit margin 33.8 %    45.5 %
Net income $ 266,212   $ 65,591  (3 ) $ 331,803 
Earnings per share – diluted:          
Earnings per share $ 3.09         $ 3.86  
Weighted average shares 86,060         86,060  
 
(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 $58.9 million of stock-based compensation expense, $3.8 million of excess payroll taxes related to stock-based awards, $33.8 million of amortization expense associated with intangible assets acquired in business combinations, $2.4 million of transaction expenses related to business combinations and the $6.9 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, decreased for the related income tax impact of $41.0 million and rabbi trust income of $0.1 million, and increased for a measurement-period adjustment related to the Tax Cuts and Jobs Act of $0.9 million.
                       

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