ANSYS Announces Exceptional Q3 Results, With Double-Digit Growth in Revenue, EPS, ACV and Operating Cash Flow


ANSYS, INC. AND SUBSIDIARIES
ASC 605 Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  September 30, 2018  September 30, 2017
(in thousands, except percentages and per share data) GAAP
Results

  Adjustments
   Non-GAAP 
Results
  GAAP
Results

  Adjustments
   Non-
GAAP 
Results
Total revenue $ 301,956   $ 5,972  (1 ) $ 307,928  $275,585  $1,181 (4)$276,766 
Operating income 105,562   38,313  (2 ) 143,875  106,183  28,711 (5)134,894 
Operating profit margin 35.0 %    46.7 % 38.5%   48.7%
Net income $ 100,116   $ 25,280  (3 ) $ 125,396  $73,630  $17,638 (6)$91,268 
Earnings per share – diluted:           
Earnings per share $ 1.16     $ 1.46  $0.85    $1.05 
Weighted average shares 86,043     86,043  86,588    86,588 
  
(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 $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 $6.0 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, a measurement-period adjustment related to the Tax Cuts and Jobs Act of $0.5 million and rabbi trust income of $0.1 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 $14.8 million of stock-based compensation expense, $12.3 million of amortization expense associated with intangible assets acquired in business combinations, $0.5 million of restructuring charges, and the $1.2 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, adjusted for the related income tax impact of $11.0 million and rabbi trust income of $0.1 million.   

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