Second Quarter 2017 Guidance
The Company currently expects the following for the quarter ending June 30, 2017:
- GAAP revenue in the range of $253.6 - $262.6 million
- Non-GAAP revenue in the range of $254.0 - $263.0 million
- GAAP diluted earnings per share of $0.66 - $0.76
- Non-GAAP diluted earnings per share of $0.88 - $0.93
Fiscal Year 2017 Guidance
The Company currently expects the following for the fiscal year ending December 31, 2017:
- GAAP revenue in the range of $1.029 - $1.057 billion
- Non-GAAP revenue in the range of $1.030 - $1.058 billion
- GAAP diluted earnings per share of $2.91 - $3.17
- Non-GAAP diluted earnings per share of $3.68 - $3.85
Conference Call Information
ANSYS will hold a conference call at 8:30 a.m. Eastern Time on May 4, 2017 to discuss first quarter results. The Company will provide its prepared remarks on the Company’s investor relations homepage and as an exhibit in its Form 8-K in advance of the call to provide shareholders and analysts with additional time and detail for analyzing its results in preparation for the conference call. The prepared remarks will not be read on the call - only brief remarks will be made prior to the Q&A session.
To participate in the live conference call, dial 855-239-2942 (US) or 412-542-4124 (Canada & Int’l). The call will be recorded and a replay will be available approximately one hour after the call ends. The replay will be available for 10 days by dialing (877) 344-7529 (US), (855) 669-9658 (Canada) or (412) 317-0088 (Int’l) and entering the passcode 10105133. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com/events-and-presentations/events.aspx.
| ANSYS, INC. AND SUBSIDIARIES | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (Unaudited) | |||||||
| (in thousands) | March 31, 2017 | December 31, 2016 | |||||
| ASSETS: | |||||||
| Cash & short-term investments | $ | 866,556 | $ | 822,860 | |||
| Accounts receivable, net | 92,332 | 107,192 | |||||
| Goodwill | 1,340,391 | 1,337,215 | |||||
| Other intangibles, net | 164,112 | 172,619 | |||||
| Other assets | 331,302 | 360,640 | |||||
| Total assets | $ | 2,794,693 | $ | 2,800,526 | |||
| LIABILITIES & STOCKHOLDERS' EQUITY: | |||||||
| Deferred revenue | $ | 414,708 | $ | 403,279 | |||
| Other liabilities | 168,540 | 188,842 | |||||
| Stockholders' equity | 2,211,445 | 2,208,405 | |||||
| Total liabilities & stockholders' equity | $ | 2,794,693 | $ | 2,800,526 | |||
| ANSYS, INC. AND SUBSIDIARIES | |||||||
| Condensed Consolidated Statements of Income | |||||||
| (Unaudited) | |||||||
| Three Months Ended | |||||||
| (in thousands, except per share data) |
March 31,
2017 |
March 31,
2016 | |||||
| Revenue: | |||||||
| Software licenses | $ | 141,908 | $ | 126,051 | |||
| Maintenance and service | 111,497 | 99,855 | |||||
| Total revenue | 253,405 | 225,906 | |||||
| Cost of sales: | |||||||
| Software licenses | 9,277 | 6,738 | |||||
| Amortization | 8,936 | 9,511 | |||||
| Maintenance and service | 18,818 | 19,036 | |||||
| Total cost of sales | 37,031 | 35,285 | |||||
| Gross profit | 216,374 | 190,621 | |||||
| Operating expenses: | |||||||
| Selling, general and administrative | 73,417 | 57,769 | |||||
| Research and development | 54,378 | 44,672 | |||||
| Amortization | 3,107 | 3,158 | |||||
| Total operating expenses | 130,902 | 105,599 | |||||
| Operating income | 85,472 | 85,022 | |||||
| Interest expense | |||||||
| Interest income | 1,249 | 950 | |||||
| Other expense, net | (1,154 | ) | (194 | ) | |||
| Income before income tax provision | 85,567 | 85,778 | |||||
| Income tax provision | 22,261 | 29,310 | |||||
| Net income | $ | 63,306 | $ | 56,468 | |||
| Earnings per share – basic: | |||||||
| Earnings per share | $ | 0.74 | $ | 0.64 | |||
| Weighted average shares | 85,456 | 88,114 | |||||
| Earnings per share – diluted: | |||||||
| Earnings per share | $ | 0.73 | $ | 0.63 | |||
| Weighted average shares | 87,224 | 90,084 | |||||
