The EDA & MCAD/MCAE Almanac: Q2 2011

1 Notice that these Table 3 columns calculate the percentage of one quarter over the other, as labeled, whereas in Table 4 below, the relevant columns provide the numerical dollar differences in earnings between two different quarters as labeled.

          2 In Table 3, FX rates used for ESI Group were the same FX rates used for Dassault Systemes.

 

Turning to earnings in Table 4 below, we see that the total G4 earnings in nominal Q2 2011 were narrowly larger than the total Q1 2011 sequential total, with all reporting vendors except PTC narrowly ahead. Of course, all of the group’s vendors reporting earnings were nicely above their YOY counterparts.

3 Notice that these Table 4 columns calculate the numerical dollar differences in earnings between two different quarters as labeled, whereas in Table 3, the relevant columns provide the percentage of one quarter over the other, as labeled.


The MCAD/MCAE G5 Individual Results Nominal Q2 2011


On August 4, 2011 ANSYS, Inc. (NASDAQ: ANSS) announced outstanding performance for the second quarter of 2011.  Revenue growth in Q2 2011 continued across all three major geographic regions, all major product lines and a broad array of industries. The strong revenue growth contributed to higher-than-planned results for several financial criteria in the second quarter of 2011 as compared to the second quarter of 2010.  



Highlights of Q2 2011

- Closed Apache Acquisition and Raised Guidance for 2011
- Revenue $162.258 million, +18.0% vs Q2 10 $137.767 million
- GAAP diluted earnings per share of $0.48 vs Q2 2010 of $0.38
- Operating cash flows of $78.9 million, 31% over Q2 2010
- GAAP operating profit margin of 39.9%


"The strong second quarter numbers are a reflection of continued momentum built upon our long-term foundation of technological leadership and sustained performance.  Despite the macro-economic volatility, we focused our efforts on the things we can control and made considerable progress.  Our diversified global business and unparalleled technical solutions continue to be key differentiators as we move ahead," commented Jim Cashman, ANSYS President and Chief Executive Officer.


"On August 1, 2011, we marked another milestone in achieving our vision of Simulation Driven Product Development™ as we completed the acquisition of Apache Design Solutions,"
said Mr. Cashman. "The addition of Apache builds on our formidable electronics base by adding a suite of power analysis and optimization software that is crucial in the design of power-efficient, high-performance, noise-immune integrated circuits.  Our solutions position us to capitalize on the fast-growing market for mobile devices, as well as high-end electronics that are proliferating across many industries." Mr. Cashman continued, "This acquisition also adds a market-leading, comprehensive team of talented and dedicated employees, whom we welcome to the ANSYS family."

ANSYS' second quarter and year-to-date financial results are presented below. GAAP results reflect:

  • Total GAAP revenue of $162.258 million in the second quarter of 2011 as compared to total GAAP revenue of $137.767 million in the second quarter of 2010; total GAAP revenue of $320.3 million in the first six months of 2011 as compared to total GAAP revenue of $273.8 million in the first six months of 2010;
  • Guidance on revenue for Q2 2011 provided 3 months ago was for a range of $155 million to $161 million;
  • A GAAP operating profit margin of 39.9% in the second quarter of 2011 as compared to 38.0% in the second quarter of 2010; a GAAP operating profit margin of 39.7% in the first six months of 2011 as compared to 37.3% in the first six months of 2010;
  • GAAP net income of $45.431 million in the second quarter of 2011 as compared to $35.493 million in the second quarter of 2010; GAAP net income of $87.7 million in the first six months of 2011 as compared to $67.9 million in the first six months of 2010; 
  • GAAP diluted earnings per share of $0.48 in the second quarter of 2011 as compared to $0.38 in the second quarter of 2010;
  • Guidance on diluted EPS for Q2 2011 provided 3 months ago was a range between $0.41 and $0.46; and
  • GAAP diluted earnings per share of $0.93 in the first six months of 2011 as compared to $0.73 in the first six months of 2010.

The Company's GAAP results reflect stock-based compensation charges of approximately $5.3 million ($4.0 million after tax) or $0.04 diluted earnings per share for the second quarter of 2011 and approximately $10.5 million ($8.0 million after tax) or $0.08 diluted earnings per share for the first six months of 2011.

Management's Financial Outlook for rest of 2011

The Company has updated its 2011 revenue and earnings per share guidance below. Both the revenue guidance and earnings per share guidance are provided on a GAAP basis.

Third Quarter and Fiscal Year 2011 Guidance

The Company currently expects the following for Q3 2011 ending September 30, 2011:

  • GAAP Revenue in the range of $166 — $174 million
  • GAAP diluted earnings per share of $0.40 - $0.47

The Company currently expects the following for the fiscal year ending December 31, 2011:

  • GAAP Revenue in the range of $671 - $687 million
  • GAAP diluted earnings per share of $1.80 - $1.91

These statements are forward-looking and actual results may differ materially.  

ANSYS is unable to predict the likely duration and severity of the current disruption in the domestic and global economies. [NOTE: Aspects of such economic disruptions are reviewed by the EDA and MCAD/MCAE writer both herein and in other EDA WEEKLY publications].  Should these economic conditions continue to deteriorate further, it could result in ANSYS not meeting the guidance provided above and ANSYS' operating results and financial performance could be adversely affected.  

Conference Call Information

ANSYS held a conference call at 10:30 a.m. Eastern Time on August 4, 2011 to discuss its second quarter results. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com

 

ANSYS, Inc. self Description

ANSYS, Inc., founded in 1970, develops and globally markets engineering simulation software and technologies widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia. The Company focuses on the development of open and flexible solutions that enable users to analyze designs directly on the desktop, providing a common platform for fast, efficient and cost-conscious product development, from design concept to final-stage testing and validation. The Company and its global network of channel partners provide sales, support and training for customers. Headquartered in Canonsburg, Pa., U.S.A., with more than 60 strategic sales locations throughout the world, ANSYS, Inc. and its subsidiaries employ over 2,000 people and distributes ANSYS products through a network of sales offices and channel partners in 40+ countries. Visit www.ansys.com for more information.














On August 18, 2011 Autodesk, Inc. (NASDAQ:ADSK) reported financial results for the second quarter of its fiscal year 2012, which is our nominal Q2 2011 .

“We achieved better than expected profitability driven by solid revenue performance and continued cost controls”

  • Revenue for nominal Q2 2011 was $546.3 million, an increase of 15.54% year-over-year compared to nominal Q2 2010 revenue of $472.8 million, and an increase of 9.08% over just-prior nominal Q1 2011 of $528.3 million.
  • Revenue guidance for nominal Q2 2011 provided three months ago was a range of $530 million to $545 million.
  • GAAP operating margin was 17% for Q2 2011 and Q2 2010.
  • GAAP net income for nominal Q2 2011 was $71.2 million, an increase of 18.86% year-over-year compared to nominal Q2 2010 net income of $59.9 million, and an increase of 2.74% over just-prior nominal Q1 2011 net income of $69.3 million.
  • GAAP diluted earnings per share for Q2 2011 were $0.30, compared to just $0.25 in the corresponding quarter a year ago.
  • GAAP diluted earnings per share guidance for nominal Q2 2011 provided three months ago was a range of $0.25 to $0.29.
  • Cash flow from operating activities was $132 million for Q2 2011, or 17.86% more than the $112 million in the second quarter last year.

“We experienced strong demand across all geographies and business segments with growth led by our Asia Pacific region,” said Carl Bass , Autodesk president and CEO.

  “Our manufacturing business segment had its largest revenue quarter ever and continues to be our fastest growing segment. Our AEC business segment returned to strong growth in the second quarter as the building and construction industries continue to standardize on Building Information Modeling. And our newly launched design and creation suites are off to a terrific start, helping drive our overall revenue growth.”

Second Quarter Operational Overview

EMEA (Europe, Middle East, and Africa) revenue was $212 million, an increase of 12% compared to the second quarter last year as reported and 13% on a constant currency basis. Revenue in the Americas was $191 million, an increase of 13% compared to the second quarter last year. Revenue in Asia Pacific was $143 million, an increase of 24% compared to the second quarter last year as reported and 16% on a constant currency basis. Revenue from emerging economies was $88 million, an increase of 23% compared to the second quarter last year as reported and 18% on a constant currency basis. Revenue from emerging economies represented 16% of total revenue in the second quarter.

NOTE: All constant currency calculations are said to remove the impact of foreign currency fluctuations and any hedge gains or losses recorded to revenue within the current and prior period as a result of Autodesk’s hedging program.

Revenue from the Platform Solutions and Emerging Business segment was $199 million, an increase of 12% compared to the second quarter last year. Revenue from the Architecture, Engineering and Construction business segment was $158 million, an increase of 19% compared to the second quarter last year. Revenue from the Manufacturing business segment was $136 million, an increase of 20% compared to the second quarter last year. Revenue from the Media and Entertainment business segment was $54 million, an increase of 9% compared to the second quarter last year.

“We achieved better than expected profitability driven by solid revenue performance and continued cost controls,” said Mark Hawkins , Autodesk Executive Vice President, Chief Financial Officer.

 

“We also posted strong growth in maintenance billings, deferred revenue, and cash flow from operations. Our balance sheet remains sound with cash and investments of approximately $1.6 billion, deferred revenue at a record high, and no debt,” Hawkins concluded.

Business Outlook

The following statements are forward-looking statements that are based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below.

Nominal Third Quarter 2011

Net revenue for the nominal third quarter of 2011 is expected to be in the range of $535 million and $550 million. GAAP earnings per diluted share are expected to be in the range of $0.25 and $0.29.

The above outlook assumes an effective tax rate of approximately 23% for GAAP results.

Earnings Conference Call and Webcast

Autodesk hosted its second quarter conference call on August 18 at 5:00 p.m. EDT. The replay of the broadcast is available at http://www.autodesk.com/investors . This replay will be maintained on Autodesk’s website for at least 12 months. The Supplemental financial information and prepared remarks for the conference call have also been posted to the investor relations section of Autodesk’s website.

Autodesk self description

Autodesk, Inc., is a leader in 3D design , engineering and entertainment software. Customers across the manufacturing, architecture, building, construction, and media and entertainment industries – including the last 16 Academy Award winners for Best Visual Effects – use Autodesk software to design, visualize, and simulate their ideas. Since its introduction of AutoCAD software in 1982, Autodesk continues to develop the broadest portfolio of state-of-the-art software for global markets. For additional information about Autodesk, visit www.autodesk.com . Autodesk and AutoCAD are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. Academy Award is a registered trademark of the Academy of Motion Picture Arts and Sciences. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

 

 

 

 

On July 28, 2011 Dassault Systèmes (Euronext Paris: #13065, DSY.PA) reported IFRS unaudited financial results for the second quarter ended June 30, 2011. This is our nominal Q2 2011.

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  • Baitron May 21, 2013
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    [URL="http://www.baitron.com"]Baitron Electronics[/URL] is a global leading independent distributor for ICs

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  • Mike Bradley September 19, 2011
    Reviewed by 'Mike B'

    > "compared to the negative effects of the right wing’s ridiculous opposition in late-July–early-August to raising the US debt ceiling"
    Regardless of my political views, statements like this in an EDA/Semiconductor business report is unprofessional. This is a subjective statement tucked inside a paragraph of facts, with the purpose of making this opinion look like fact.

    Edited by ibsystems on 10/13/11 04:53 PM.



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  • Re: The EDA & MCAD/MCAE Almanac: Q2 2011 October 24, 2011
    Reviewed by 'dlj0811'

    Really helpful!


     


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