ANSYS Announces Record Q2 Financial Results Including Double-Digit Growth in Revenue, EPS and ACV

(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 $29.1 million of stock-based compensation expense, $0.4 million of excess payroll taxes related to stock-based awards, $8.6 million of amortization expense associated with intangible assets acquired in business combinations, $0.5 million of transaction expenses related to business combinations and the $1.9 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 $11.7 million, adjustments related to the transition tax associated with 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 $20.6 million of stock-based compensation expense, $0.4 million of excess payroll taxes related to stock-based awards, $12.6 million of amortization expense associated with intangible assets acquired in business combinations, $1.0 million of transaction expenses related to business combinations and the $2.9 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, decreased for the related income tax impact of $14.2 million and rabbi trust income of $0.1 million.


 
ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures
(Unaudited)
  Six Months Ended
  June 30, 2019  June 30, 2018
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
  GAAP
Results
  Adjustments  Non-GAAP
Results
Total revenue $ 685,765   $ 4,653  (1 ) $ 690,418  $588,786  $3,349 (4)$592,135 
Operating income 224,277   81,922  (2 ) 306,199  203,614  69,907 (5)273,521 
Operating profit margin 32.7 %    44.3 %   34.6 %       46.2 %
Net income $ 195,980     $ 52,596   (3 ) $ 248,576     $ 176,876     $ 42,034   (6 ) $ 218,910  
Earnings per share – diluted:                      
Earnings per share $ 2.29         $ 2.91     $ 2.06         $ 2.54  
Weighted average shares 85,488         85,488     86,069         86,069  

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