Product category:
Manufacturing orders, contracts, financial reports
News Release from: Ansoft Europe
Edited by the Manufacturingtalk Editorial
Team on 16 February 2007
Electronic design software earnings
increase
Strong revenue growth in high-performance products in both domestic and international markets
Ansoft has announced financial results for its third quarter of fiscal 2007 ended 31 January 2007 All references to share and per share information, except shares authorised, included in this press release have been adjusted to reflect the two-for-one stock split effected in the form of a stock dividend that was declared on 7 March 2006 and distributed on 9 May 2006
This article was originally published on Manufacturingtalk on 27 Apr 2007 at 8.00am (UK)
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Revenue for the third quarter totalled $22.7 million, an increase of 16% compared to $19.7 million reported in the previous fiscal year's third quarter.
On a generally accepted accounting principles (GAAP) basis, net income for the third quarter was $6.3 million, or $0.24 per diluted share representing a 48% increase when compared to GAAP net income of $4.3 million, or $0.16 per diluted share in the previous fiscal year's third quarter.
GAAP net income for the current fiscal year's third quarter included a tax benefit of $1.1 million, or $0.04 per diluted share for the US Research and Development Tax Credit enacted by Congress retroactive to 1 January 2006 in December 2006.
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GAAP net income for the third quarter includes employee stock-based compensation expense of $0.6 million, or $0.02 per diluted share.
The previous fiscal year's third quarter net income did not include employee stock-based compensation expense.
Additionally, GAAP net income for the third quarter includes acquisition related amortisation of $0.3 million, or $0.01 per diluted share.
This compares to acquisition related amortization of $0.4 million, or $0.01 per diluted share in the previous fiscal year's third quarter.
"We had an excellent quarter with particularly strong revenue growth in our high-performance product line and in both domestic and international markets," said Nicholas Csendes, Ansoft's President and CEO.
"For the fourth quarter, we expect continued revenue growth of around 10-15%".
Ansoft is a leading developer of high-performance electronic design automation (EDA) software.
Engineers use Ansoft software to design state-of-the-art electronic products, such as cellular phones, internet access devices, broadband networking components and systems, integrated circuits (ICs), printed circuit boards (PCBs), automotive electronic systems and power electronics.
Ansoft markets its products worldwide through its own direct sales force and has comprehensive customer-support and training offices throughout North America, Asia and Europe.
This press release contains forward-looking statements including those related to revenue growth for the current fiscal year that are made pursuant to the safe harbour provisions of the Private Securities Litigation Act of 1995.
These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to, management's ability to forecast revenues and control expenses and the amount, timing and structure of software licenses.
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