ANSYS Reports Strong Revenue and Earnings Growth for the First Quarter and Increases 2010 Outlook

ANSYS, INC. AND SUBSIDIARIES

Consolidated Statements of Income

(in thousands, except per share data)

(Unaudited)

 
  Three Months Ended

 

March 31, 2010

 

March 31, 2009

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
 

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