ANSYS, Inc. Reports Second Quarter 2009 Results and Updates Outlook

Management's Remaining 2009 Financial Outlook

The Company is providing its 2009 revenue and earnings per share guidance below. The earnings per share guidance is provided on both a GAAP basis and a non-GAAP basis. Non-GAAP diluted earnings per share excludes charges for stock-based compensation, purchase accounting adjustments to deferred revenue and acquisition-related amortization of intangible assets.

Third Quarter 2009 Guidance

The Company currently expects the following for the quarter ending September 30, 2009:

  • GAAP revenue in the range of $123.4 - $129.4 million
  • Non-GAAP revenue in the range of $124 - $130 million
  • GAAP diluted earnings per share of $0.27 - $0.31
  • Non-GAAP diluted earnings per share of $0.40 - $0.42

Fiscal Year 2009 Guidance

The Company currently expects the following for the fiscal year ending December 31, 2009:

  • GAAP revenue in the range of $501.9 - $519.9 million
  • Non-GAAP revenue in the range of $510 - 528 million
  • GAAP diluted earnings per share of $1.13 - $1.26
  • Non-GAAP diluted earnings per share of $1.66 - $1.76

The preceding third quarter 2009 guidance excludes non-recurring pre-tax charges of approximately $3.2 - $4.5 million associated with continued headcount right-sizing initiatives that management estimates will be substantially finalized during the third quarter. The fiscal year 2009 guidance excludes non-recurring pre-tax charges of approximately $4.5 - $5.8 million related to these activities, $1.3 million of which was recorded in the 2009 second quarter.

These statements are forward-looking and actual results may differ materially. ANSYS is unable to predict the likely duration and severity of the current disruption in the domestic and global economies. Should these economic conditions continue to deteriorate further, it could result in ANSYS not meeting the guidance provided above and ANSYS’ operating results and financial performance could be adversely affected. Non-GAAP diluted earnings per share and Non-GAAP revenue are supplemental financial measures and should not be considered as a substitute for, or superior to, diluted earnings per share or revenue determined in accordance with GAAP.

Conference Call Information

ANSYS will hold a conference call at 10:30 a.m. Eastern Time on August 6, 2009 to discuss second quarter results. To participate in the live conference call, dial 877-428-5482 (US & Canada) or 706-758-4753 (Int’l) and enter the passcode "ANSYS" or "26797". The call will be recorded and a replay will be available approximately two hours after the call ends. The replay will be available for one week by dialing 800-642-1687 (US & Canada) or 709-645-9291 (Int’l) and entering the passcode 19821486. The archived webcast can be accessed, along with other financial information, on ANSYS' website at http://investors.ansys.com.

ANSYS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
   
 
June 30, 2009 December 31, 2008

ASSETS:

 
Cash & short-term investments $ 254,187 $ 233,875
Accounts receivable, net 50,886 61,823
Goodwill 1,046,019 1,048,003
Other intangibles, net 346,204 373,398
Other assets 137,828 147,415
 
Total assets $ 1,835,124 $ 1,864,514
 
 
LIABILITIES & STOCKHOLDERS' EQUITY:
 
Deferred revenue $ 182,744 $ 166,189
Long-term debt (including current portion) 238,556 279,425
Other liabilities 205,083 236,001
Stockholders' equity 1,208,741 1,182,899
 
Total liabilities & stockholders' equity $ 1,835,124 $ 1,864,514

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