| ANSYS, INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
| ASC 605 Reconciliation of Non-GAAP Measures | |||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||
| September 30, 2018 | September 30, 2017 | ||||||||||||||||||||||||
| (in thousands, except percentages and per share data) |
GAAP
Results |
Adjustments
|
Non-GAAP
Results |
GAAP
Results |
Adjustments
|
Non-
GAAP Results | |||||||||||||||||||
| Total revenue | $ | 301,956 | $ | 5,972 | (1 | ) | $ | 307,928 | $ | 275,585 | $ | 1,181 | (4 | ) | $ | 276,766 | |||||||||
| Operating income | 105,562 | 38,313 | (2 | ) | 143,875 | 106,183 | 28,711 | (5 | ) | 134,894 | |||||||||||||||
| Operating profit margin | 35.0 | % | 46.7 | % | 38.5 | % | 48.7 | % | |||||||||||||||||
| Net income | $ | 100,116 | $ | 25,280 | (3 | ) | $ | 125,396 | $ | 73,630 | $ | 17,638 | (6 | ) | $ | 91,268 | |||||||||
| Earnings per share – diluted: | |||||||||||||||||||||||||
| Earnings per share | $ | 1.16 | $ | 1.46 | $ | 0.85 | $ | 1.05 | |||||||||||||||||
| Weighted average shares | 86,043 | 86,043 | 86,588 | 86,588 | |||||||||||||||||||||
| (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 $6.0 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 $12.4 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. | |||||||||||||||||||||||||
| (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 $14.8 million of stock-based compensation expense, $12.3 million of amortization expense associated with intangible assets acquired in business combinations, $0.5 million of restructuring charges, and the $1.2 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 $11.0 million and rabbi trust income of $0.1 million. | |||||||||||||||||||||||||
ANSYS Announces Exceptional Q3 Results, With Double-Digit Growth in Revenue, EPS, ACV and Operating Cash Flow
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