Ansys Announces Financial Results With Record Q4 and FY 2020 Revenue, ACV and Operating Cash Flow

Condensed Consolidated Statements of Income
(Unaudited)

  Three Months Ended  Twelve Months Ended
(in thousands, except per share data) December 31,
2020
  December 31,
2019
  December 31,
2020
  December 31,
2019
Revenue:       
Software licenses $ 382,057  $268,943   $ 780,850  $699,630 
Maintenance and service 241,629  217,285   900,447  816,262 
Total revenue 623,686  486,228   1,681,297  1,515,892 
Cost of sales:       
Software licenses 9,930  7,324   30,618  23,944 
Amortization 11,415   7,646     40,642     21,710  
Maintenance and service 46,558     34,626     154,004     120,619  
Total cost of sales 67,903     49,596     225,264     166,273  
Gross profit 555,783     436,632     1,456,033     1,349,619  
Operating expenses:              
Selling, general and administrative 195,845     167,937     587,707     521,200  
Research and development 96,510     79,152     355,371     298,210  
Amortization 4,037     3,827     16,599     15,169  
Total operating expenses 296,392     250,916     959,677     834,579  
Operating income 259,391     185,716     496,356     515,040  
Interest income 610     3,186     5,073     12,796  
Interest expense (2,444 )   (2,900 )   (10,988 )   (3,461 )
Other income (expense), net 315     (855 )   3,484     (1,792 )
Income before income tax provision 257,872     185,147     493,925     522,583  
Income tax provision 42,240     19,295     60,038     71,288  
Net income $ 215,632     $ 165,852     $ 433,887     $ 451,295  
Earnings per share – basic:              
Earnings per share $ 2.50     $ 1.95      $ 5.05     $ 5.36   
Weighted average shares 86,115     85,183      85,840     84,259   
Earnings per share – diluted:              
Earnings per share $ 2.46     $ 1.91      $ 4.97     $ 5.25   
Weighted average shares 87,626     86,992      87,288     85,925   

Reconciliations of GAAP to Non-GAAP Measures (Unaudited)

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