ANSYS Announces Q4 Results: Record Finish Reflects Double-Digit Growth in Revenue, ACV, EPS and Operating Cash Flow


ANSYS, INC. AND SUBSIDIARIES
ASC 606 Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  December 31, 2018
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
Total revenue $ 415,432   $ 2,545  (1) $ 417,977 
Operating income 179,936   35,646  (2) 215,582 
Operating profit margin 43.3 %    51.6 %
Net income $ 153,163   $ 28,919  (3) $ 182,082 
Earnings per share – diluted:     
Earnings per share $ 1.79     $ 2.13 
Weighted average shares 85,472     85,472 

(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 $24.5 million of stock-based compensation expense, $0.5 million of excess payroll taxes related to stock-based awards, $7.0 million of amortization expense associated with intangible assets acquired in business combinations, $1.2 million of transaction expenses related to business combinations and the $2.5 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 $6.9 million and increased for rabbi trust expense of $0.2 million.

 
 
ANSYS, INC. AND SUBSIDIARIES
ASC 606 Reconciliation of Non-GAAP Measures
(Unaudited)
  Twelve Months Ended
  December 31, 2018
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
Total revenue $ 1,293,636   $ 9,442  (1 ) $ 1,303,078 
Operating income 476,574   141,442  (2 ) 618,016 
Operating profit margin 36.8 %    47.4 %
Net income $ 419,375   $ 94,510  (3 ) $ 513,885 
Earnings per share – diluted:     
Earnings per share $ 4.88     $ 5.98 
Weighted average shares 85,913     85,913  

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