ANSYS Announces Record Q3 Financial Results With Double-Digit Growth in Revenue and ACV

 
ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended  Nine Months Ended
(in thousands, except per share data) September 30,
 2019
  September 30,
 2018
  September 30,
 2019
  September 30,
 2018
Revenue:       
Software licenses $ 137,144  $109,103   $ 430,687  $350,296 
Maintenance and service 206,755  180,315   598,977  527,908 
Total revenue 343,899  289,418   1,029,664  878,204 
Cost of sales:       
Software licenses 5,708  4,291   16,620  12,301 
Amortization 4,762  5,530   14,064  23,403 
Maintenance and service 30,895  26,487   85,993  80,092 
Total cost of sales 41,365  36,308     116,677     115,796  
Gross profit 302,534     253,110     912,987     762,408  
Operating expenses:              
Selling, general and administrative 120,682     97,576     353,263     280,443  
Research and development 73,018     59,019     219,058     174,906  
Amortization 3,787     3,491     11,342     10,421  
Total operating expenses 197,487     160,086     583,663     465,770  
Operating income 105,047     93,024     329,324     296,638  
Interest income 3,188     3,213     9,610     7,674  
Other income (expense), net 594     (974 )   (1,498 )   (2,289 )
Income before income tax provision 108,829     95,263     337,436     302,023  
Income tax provision 19,366     5,927     51,993     35,811  
Net income $ 89,463     $ 89,336     $ 285,443     $ 266,212  
Earnings per share – basic:              
Earnings per share $ 1.06     $ 1.06     $ 3.40     $ 3.17  
Weighted average shares 84,109     84,158     83,951     84,065  
Earnings per share – diluted:              
Earnings per share $ 1.04     $ 1.04     $ 3.34     $ 3.09  
Weighted average shares 85,733     86,043     85,570     86,060  
                       

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