ANSYS, Inc. Reports Second Quarter 2009 Results and Updates

ANSYS, Inc. Reports Second Quarter 2009 Results and Updates Outlook

ANSYS, INC. AND SUBSIDIARIES
Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)

		Three Months Ended				Six Months Ended
		June 30, 2009		June 30, 2008		June 30, 2009		June 30, 2008
Revenue:
	Software licenses	$ 73,136		$ 73,915		$ 143,625		$ 147,551
	Maintenance and service	48,890		37,331		94,711		73,240

	Total revenue	122,026		111,246		238,336		220,791

Cost of sales:
	Software licenses	2,366		2,056		4,666		4,403
	Amortization of software and
	acquired technology	9,001		4,768		17,997		9,952
	Maintenance and service	12,193		13,706		24,525		27,082
	Restructuring charges	498		-		498		-
	Total cost of sales	24,058		20,530		47,686		41,437

Gross profit		97,968		90,716		190,650		179,354

Operating expenses:
	Selling, general and administrative	32,570		28,153		66,395		56,862
	Research and development	19,909		16,528		39,939		32,486
	Amortization	4,021		2,181		8,019		4,351
	Restructuring charges	808		-		808		-
	Total operating expenses	57,308		46,862		115,161		93,699

Operating income		40,660		43,854		75,489		85,655

Interest expense		(2,941	)	(1,242	)	(6,218	)	(2,227	)
Interest income		360		1,212		929		2,808
Other (expense) income, net		(817	)	(378	)	(1,305	)	554

Income before income tax provision		37,262		43,446		68,895		86,790

Income tax provision		10,125		15,317		20,663		32,807

Net income		$ 27,137		$ 28,129		$ 48,232		$ 53,983

Earnings per share – basic:
	Basic earnings per share	$ 0.31		$ 0.36		$ 0.55		$ 0.69
	Weighted average shares – basic	87,726		78,503		88,296		78,403


Earnings per share - diluted:
	Diluted earnings per share	$ 0.30		$ 0.34		$ 0.53		$ 0.66
	Weighted average shares – diluted	91,048		82,083		91,612		81,863

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