ANSYS Reports Solid Revenue Results with Strong Margins For Q3 2009

               

ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures

(Unaudited)

(in thousands, except percentages and per share data)

 

Three Months Ended

September 30, 2009

   

September 30, 2008

As

Non-GAAP

 

As

Non-GAAP

Reported

Adjustments

Results

Reported

Adjustments

Results

 
Total revenue $ 128,187 $ 567(1) $ 128,754 $ 122,247 $ 6,598(4) $ 128,845
 
Operating income 47,632 16,777(2) 64,409 38,296 $ 20,424(5) 58,720
 
Operating profit margin 37.2% 50.0% 31.3% 45.6%
 
Net income $ 30,529 $ 10,884(3) $ 41,413 $ 25,775 $ 12,903(6) $ 38,678
 
Earnings per share - diluted:
Diluted earnings per share $ 0.33 $ 0.45 $ 0.29 $ 0.43
Weighted average shares - diluted 91,640 91,640 90,117 90,117

(1)

  Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with accounting for deferred revenue in business combinations.
 
(2) Amount represents $13.0 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list, trademarks and non-compete agreements, a $3.2 million charge for stock-based compensation, as well as the $567,000 adjustment to revenue as reflected in (1) above.
 
(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $5.9 million.
 
(4) Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with accounting for deferred revenue in business combinations.
 
(5) Amount represents $11.0 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list and non-compete agreements, a $2.8 million charge for stock-based compensation, as well as the $6.6 million adjustment to revenue reflected in (4) above.
 
(6) Amount represents the impact of the adjustments to operating income referred to in (5) above, adjusted for the related income tax impact of $7.5 million.
 

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