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ANSYS, INC. AND SUBSIDIARIES |
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Consolidated Statements of Income |
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(in thousands, except per share data) |
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(Unaudited) |
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| Three Months Ended | ||||||||
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March 31, 2010 |
March 31, 2009 |
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| Revenue: | ||||||||
| Software licenses | $ | 81,586 | $ | 70,489 | ||||
| Maintenance and service | 54,467 | 45,821 | ||||||
| Total revenue | 136,053 | 116,310 | ||||||
| Cost of sales: | ||||||||
| Software licenses | 2,609 | 2,300 | ||||||
| Amortization | 8,214 | 8,996 | ||||||
| Maintenance and service | 13,830 | 12,332 | ||||||
| Total cost of sales | 24,653 | 23,628 | ||||||
| Gross profit | 111,400 | 92,682 | ||||||
| Operating expenses: | ||||||||
| Selling, general and administrative | 35,228 | 33,825 | ||||||
| Research and development | 22,587 | 20,030 | ||||||
| Amortization | 3,962 | 3,998 | ||||||
| Total operating expenses | 61,777 | 57,853 | ||||||
| Operating income | 49,623 | 34,829 | ||||||
| Interest expense | (1,549 | ) | (3,277 | ) | ||||
| Interest income | 368 | 569 | ||||||
| Other expense | (507 | ) | (488 | ) | ||||
| Income before income tax provision | 47,935 | 31,633 | ||||||
| Income tax provision | 15,566 | 10,538 | ||||||
| Net income | $ | 32,369 | $ | 21,095 | ||||
| Earnings per share – basic: | ||||||||
| Basic earnings per share | $ | 0.36 | $ | 0.24 | ||||
| Weighted average shares - basic | 89,964 | 88,866 | ||||||
| Earnings per share – diluted: | ||||||||
| Diluted earnings per share | $ | 0.35 | $ | 0.23 | ||||
| Weighted average shares - diluted | 92,774 | 92,175 | ||||||
ANSYS Reports Strong Revenue and Earnings Growth for the First Quarter and Increases 2010 Outlook
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