ANSYS Announces Record Q3 Financial Results With Double-Digit

ANSYS Announces Record Q3 Financial Results With Double-Digit Growth in Revenue and ACV


ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
	Three Months Ended					Nine Months Ended
*(in thousands, except per share data)*	September 30, 2019		September 30, 2018			September 30, 2019			September 30, 2018
Revenue:
Software licenses	$	137,144	$	109,103		$	430,687		$	350,296
Maintenance and service	206,755		180,315			598,977			527,908
Total revenue	343,899		289,418			1,029,664			878,204
Cost of sales:
Software licenses	5,708		4,291			16,620			12,301
Amortization	4,762		5,530			14,064			23,403
Maintenance and service	30,895		26,487			85,993			80,092
Total cost of sales	41,365		36,308			116,677			115,796
Gross profit	302,534		253,110			912,987			762,408
Operating expenses:
Selling, general and administrative	120,682		97,576			353,263			280,443
Research and development	73,018		59,019			219,058			174,906
Amortization	3,787		3,491			11,342			10,421
Total operating expenses	197,487		160,086			583,663			465,770
Operating income	105,047		93,024			329,324			296,638
Interest income	3,188		3,213			9,610			7,674
Other income (expense), net	594		(974		)	(1,498		)	(2,289		)
Income before income tax provision	108,829		95,263			337,436			302,023
Income tax provision	19,366		5,927			51,993			35,811
Net income	$	89,463	$	89,336		$	285,443		$	266,212
Earnings per share – basic:
Earnings per share	$	1.06	$	1.06		$	3.40		$	3.17
Weighted average shares	84,109		84,158			83,951			84,065
Earnings per share – diluted:
Earnings per share	$	1.04	$	1.04		$	3.34		$	3.09
Weighted average shares	85,733		86,043			85,570			86,060

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