Ansys Announces Q2 Financial Results With Q2 Record Revenue, ACV and Operating Cash Flow


 
ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
  Three Months Ended  Six Months Ended
(in thousands, except per share data) June 30,
2020
  June 30,
2019
  June 30,
2020
  June 30,
2019
Revenue:       
Software licenses $ 169,341  $170,499   $ 257,171  $293,543 
Maintenance and service 216,320  198,136   433,475  392,222 
Total revenue 385,661  368,635   690,646  685,765 
Cost of sales:       
Software licenses 8,511  6,204   13,437  10,912 
Amortization 9,764  4,755   19,316  9,302 
Maintenance and service 35,585     29,538     71,223     55,098  
Total cost of sales 53,860     40,497     103,976     75,312  
Gross profit 331,801     328,138     586,670     610,453  
Operating expenses:              
Selling, general and administrative 128,698     120,412     259,220     232,581  
Research and development 86,133     75,302     172,245     146,040  
Amortization 4,163     3,796     8,325     7,555  
Total operating expenses 218,994     199,510     439,790     386,176  
Operating income 112,807     128,628     146,880     224,277  
Interest income 934     2,980     3,709     6,422  
Interest expense (3,040 )   (231 )   (6,691 )   (322 )
Other income (expense), net 1,884     (1,436 )   2,011     (1,770 )
Income before income tax provision 112,585     129,941     145,909     228,607  
Income tax provision 16,021     20,191     3,281     32,627  
Net income $ 96,564     $ 109,750     $ 142,628     $ 195,980  
Earnings per share – basic:              
Earnings per share $ 1.13     $ 1.31     $ 1.66     $ 2.34  
Weighted average shares 85,651     83,978     85,724     83,871  
Earnings per share – diluted:              
Earnings per share $ 1.11     $ 1.28     $ 1.64     $ 2.29  
Weighted average shares 86,934     85,483     87,152     85,488  
                       

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