ANSYS Announces Q1 2018 Financial Results: a Strong Start Reflecting Record First Quarter Revenue, EPS and Operating Cash Flows


 
ANSYS, INC. AND SUBSIDIARIES
ASC 606 Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  March 31, 2018
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
Total revenue $ 282,873   $ 401  (1 ) $ 283,274 
Operating income 95,061   32,351  (2 ) 127,412 
Operating profit margin 33.6 %    45.0 %
Net income $ 84,280   $ 18,784  (3 ) $ 103,064 
Earnings per share – diluted:     
Earnings per share $ 0.98     $ 1.20 
Weighted average shares 86,152     86,152 
        

(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(2) Amount represents $15.3 million of stock-based compensation expense, $3.1 million of excess payroll taxes related to stock-based awards, $12.2 million of amortization expense associated with intangible assets acquired in business combinations, $1.4 million of transaction expenses related to business combinations and the $0.4 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, decreased for the related income tax impact of $15.0 million and increased for a measurement-period adjustment related to the Tax Cuts and Jobs Act of $1.4 million.

 
ANSYS, INC. AND SUBSIDIARIES
ASC 605 Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  March 31, 2018  March 31, 2017
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
  GAAP
Results
  Adjustments  Non-GAAP
Results
Total revenue $ 284,569   $ 604  (1 ) $ 285,173  $253,405  $143 (4)$253,548 
Operating income 96,757   32,554  (2 ) 129,311  85,472  32,111 (5)117,583 
Operating profit margin 34.0 %    45.3 %   33.7 %       46.4 %
Net income $ 85,753     $ 18,936   (3 ) $ 104,689     $ 63,306     $ 14,183   (6 ) $ 77,489  
Earnings per share – diluted:                      
Earnings per share $ 1.00         $ 1.22     $ 0.73         $ 0.89  
Weighted average shares 86,152         86,152     87,224         87,224  
                               

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