ANSYS Reports Revenue and Earnings Growth for Fourth Quarter and 2008 Annual Results and Updates Outlook

(1) Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with EITF 01-3 “Accounting in a Business Combination for Deferred Revenue of an Acquiree.”
 
(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 and non-compete agreements, a $3.1 million charge for stock-based compensation, as well as the $8.0 million 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 $9.4 million.

Note: The GAAP and non-GAAP net income and earnings per share data reflected above include approximately $2.0 million, or $0.02 per share, in tax benefits during the fourth quarter of 2008 related to U.S. research and development activities that occurred during the first nine months of 2008. These amounts were recorded in the fourth quarter when the U.S. government approved the related tax credits retroactive to January 1, 2008.

ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures

For the three months ended December 31, 2007

(in thousands, except percentages and per share data)

(Unaudited)

     
As Reported Adjustments Non-GAAP Results
 
Total revenue: $111,236 - $111,236
 
Operating income 37,942 $10,101(1 ) 48,043
 
Operating profit margin 34.1 % 43.2 %
 
Net income $29,289 $6,689 (2 ) $35,978
 
Earnings per share - diluted:
Diluted earnings per share $0.36 $0.44
 
Weighted average shares - diluted 81,723 81,723

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