Ansys Q3 Profit Increases - Quick Facts

(RTTNews) - Ansys Inc. (ANSS) reported that its third quarter net income was $65.48 million or $0.70 per share, up from $62.43 million or $0.66 per share in the same quarter last year.

Non-GAAP earnings per share grew to $0.89 from $0.83 in the prior year. Revenues for the quarter rose to $234.00 million from $212.66 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.83 per share and revenues of $236.93 million for the quarter. Analysts' estimates typically exclude special items.

The company also announced that Peter Smith, Chairman of the ANSYS Board of Directors, has stepped down from his role as Chairman, effective October 27, 2014. Ronald Hovsepian, who has served as a member of the ANSYS Board of Directors since February 2012, will assume the role of interim Non-Executive Chairman. Mr. Smith, who will be taking a medical leave of absence, will remain a Director on the Board.

Looking ahead for the fourth-quarter, the company expects GAAP earnings per share of $0.58 - $0.64, Non-GAAP earnings per share of $0.78 - $0.82, GAAP revenue of $243.9 million - $251.9 million, and Non-GAAP revenue of $245.0 million - $253.0 million. Analysts expect the company to report earnings of $0.90 per share and revenues of $262.99 million for the fourth-quarter.

The Company's fourth quarter revenue and earnings per share guidance is lower than that implied in the financial guidance last provided by the Company on August 5, 2014. The reduction in revenue guidance is primarily the result of an increased softening in the Company's European business, weakness in sales from the Company's independent channel partner in China and the strengthening of the U.S. Dollar. The strengthening of the U.S. Dollar accounts for approximately half of the fourth quarter revenue guidance reduction.

For 2014, the company projects GAAP earnings per share to be in the range of $2.54 - $2.61, Non-GAAP earnings per share of $3.29 - $3.33, GAAP revenue of $925.6 million - $933.6 million, and Non-GAAP revenue of $931.0 million - $939.0 million. Wall Street currently is looking for fiscal year 2014 earnings of $3.35 per share on annual revenues of $950.54 million.

For fiscal Year 2015, the company anticipates GAAP earnings per share of $2.82 - $2.97, Non-GAAP earnings per share of $3.53 - $3.64, GAAP revenue of $983.1 million-$1.013 billion, and Non-GAAP revenue of $984.0 million - $1.014 billion. Analysts expect the company to report earnings of $3.63 per share and revenues of $1.04 billion for fiscal 2015.