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

(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 $31.9 million of stock-based compensation expense, $0.1 million of excess payroll taxes related to stock-based awards, $8.5 million of amortization expense associated with intangible assets acquired in business combinations, $2.5 million of transaction expenses related to business combinations and the $1.6 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 $12.4 million.

(4) 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.

(5) Amount represents $23.0 million of stock-based compensation expense, $0.3 million of excess payroll taxes related to stock-based awards, $9.0 million of amortization expense associated with intangible assets acquired in business combinations and the $3.5 million adjustment to revenue as reflected in (4) above.

(6) Amount represents the impact of the adjustments to operating income referred to in (5) above, decreased for the related income tax impact of $11.7 million, adjustments related to the transition tax associated with the Tax Cuts and Jobs Act of $0.5 million, and rabbi trust income of $0.1 million.

 
ANSYS, INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Measures
(Unaudited)
  Nine Months Ended
  September 30, 2019  September 30, 2018
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
  GAAP
Results
  Adjustments  Non-GAAP
Results
Total revenue $ 1,029,664   $ 6,249  (1 ) $ 1,035,913  $878,204  $6,897 (4)$885,101 
Operating income 329,324   126,597  (2 ) 455,921  296,638  105,796 (5)402,434 
Operating profit margin 32.0 %    44.0 % 33.8%   45.5%
Net income $ 285,443   $ 84,841  (3 ) $ 370,284     $ 266,212     $ 65,591   (6) $ 331,803  
Earnings per share – diluted:                      
Earnings per share $ 3.34         $ 4.33     $ 3.09         $ 3.86  
Weighted average shares 85,570         85,570     86,060         86,060  
                               

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