Ansys Announces Fourth Quarter and Fiscal Year 2019 Financial Results With Record Revenue, EPS, ACV and Operating Cash Flow

 
ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended  Twelve Months Ended
(in thousands, except per share data) December 31,
 2019
  December 31,
 2018
  December 31,
 2019
  December 31,
 2018
Revenue:       
Software licenses $ 268,943  $226,421   $ 699,630  $576,717 
Maintenance and service 217,285  189,011   816,262  716,919 
Total revenue 486,228  415,432   1,515,892  1,293,636 
Cost of sales:       
Software licenses 7,324  6,318   23,944  18,619 
Amortization 7,646  3,631   21,710  27,034 
Maintenance and service 34,626  30,140   120,619  110,232 
Total cost of sales 49,596  40,089     166,273     155,885  
Gross profit 436,632     375,343     1,349,619     1,137,751  
Operating expenses:              
Selling, general and administrative 167,937     133,137     521,200     413,580  
Research and development 79,152     58,896     298,210     233,802  
Amortization 3,827     3,374     15,169     13,795  
Total operating expenses 250,916     195,407     834,579     661,177  
Operating income 185,716     179,936     515,040     476,574  
Interest income 3,186     3,745     12,796     11,419  
Interest expense (2,900 )   (12 )   (3,461 )   (59 )
Other (expense) income, net (855 )   1,393     (1,792 )   (849 )
Income before income tax provision 185,147     185,062     522,583     487,085  
Income tax provision 19,295     31,899     71,288     67,710  
Net income $ 165,852     $ 153,163     $ 451,295     $ 419,375  
Earnings per share – basic:              
Earnings per share $ 1.95     $ 1.83     $ 5.36     $ 4.99  
Weighted average shares 85,183     83,699     84,259     83,973  
Earnings per share – diluted:              
Earnings per share $ 1.91     $ 1.79     $ 5.25     $ 4.88  
Weighted average shares 86,992     85,472     85,925     85,913  
                       

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