ANSS: Quick Comments on Ansys Earnings
Our earnings preview for Ansys (ANSS) said “Dassault beat big, and we like Ansys better.” This morning the company reported earnings:
– Total non-GAAP revenue of $89.6 million in the first quarter of 2007 and total GAAP revenue of $87.9 million in the first quarter of 2007 as compared to $46.0 million in the first quarter of 2006;
– A non-GAAP operating profit margin of 42.6% in the first quarter of 2007 as compared to 43.4% in the first quarter of 2006; a GAAP operating profit margin of 30.5% in the first quarter of 2007 as compared to 38.7% in the first quarter of 2006;
– Non-GAAP net income of $23.5 million in the first quarter of 2007 as compared to $14.5 million in the first quarter of 2006; GAAP net income of $16.2 million in the first quarter of 2007 as compared to GAAP net income of $12.9 million in the first quarter of 2006; and
– Non-GAAP diluted earnings per share of $0.58 in the first quarter of 2007 as compared to $0.42 in the first quarter of 2006; GAAP diluted earnings per share of $0.40 in the first quarter of 2007 as compared to GAAP diluted earnings per share of $0.38 in the first quarter of 2006.
Analysts were expecting the company to earn $0.46 on $87 million in sales. Partly on the strength of its recent product upgrade, the company also raised its guidance:
The Company currently expects the following for the quarter ending June 30, 2007:
– GAAP revenue in the range of $87 – $89 million
– Non-GAAP revenue in the range of $87 – $89 million
– GAAP diluted earnings per share of $0.35 – $0.38
– Non-GAAP diluted earnings per share of $0.52 – $0.53Fiscal Year 2007 Guidance
– The Company currently expects the following for the fiscal year ending December 31, 2007:
– GAAP revenue in the range of $363 – $366 million
– Non-GAAP revenue in the range of $365 – $368 million
– GAAP diluted earnings per share of $1.46 – $1.53
– Non-GAAP diluted earnings per share of $2.14 – $2.17
Analysts had targeted $0.47 on $88 million in revenue for Q2 and $1.96 on $365 million in sales for the year. License sales appeared particularly strong, offering both higher profitability and the likelihood of higher future support revenues.
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[...] that wasn’t enough, the company also raised guidance (again). The company now expects to earn $0.26-$0.27 per share in the third quarter rather than the $0.24 [...]