ANSYS Reports Solid Revenue Results with Strong Margins For Q3

ANSYS Reports Solid Revenue Results with Strong Margins For Q3 2009


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

		Three Months Ended				Nine Months Ended
		September 30, 2009		September 30, 2008		September 30, 2009		September 30, 2008
Revenue:
	Software licenses	$	76,395	$	80,226	$	220,020	$	227,777
	Maintenance and service		51,792		42,021		146,503		115,261

	Total revenue		128,187		122,247		366,523		343,038

Cost of sales:
	Software licenses		2,417		2,508		7,083		6,911
	Amortization		9,005		8,120		27,002		18,072
	Maintenance and service		12,295		13,959		36,820		41,041
	Restructuring charges		172		-		670		-
	Total cost of sales		23,889		24,587		71,575		66,024

Gross profit			104,298		97,660		294,948		277,014

Operating expenses:
	Selling, general and administrative		31,719		36,071		98,114		92,933
	Research and development		19,462		20,282		59,401		52,768
	Amortization		4,115		3,011		12,134		7,362
	Restructuring charges		1,370		-		2,178		-
	Total operating expenses		56,666		59,364		171,827		153,063

Operating income			47,632		38,296		123,121		123,951

Interest expense			(2,313)		(3,122)		(8,531)		(5,349)
Interest income			425		1,672		1,354		4,480
Other income (expense), net			54		(273)		(1,251)		281

Income before income tax provision			45,798		36,573		114,693		123,363

Income tax provision			15,269		10,798		35,932		43,605

Net income		$	30,529	$	25,775	$	78,761	$	79,758

Earnings per share – basic:
	Basic earnings per share	$	0.35	$	0.30	$	0.89	$	0.99
	Weighted average shares – basic		88,284		85,687		88,292		80,831


Earnings per share - diluted:
	Diluted earnings per share	$	0.33	$	0.29	$	0.86	$	0.94
	Weighted average shares – diluted		91,640		90,117		91,621		84,614

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