Ansys shares surge on strong 2Q results, outlook

Ansys shares rise 12 pct on better-than-expected 2nd-qtr results, strong outlook

Associated Press

PITTSBURGH (AP) -- Shares of Ansys Inc. jumped 12 percent Thursday after the engineering and design software company reported better-than-expected second-quarter results and issued strong outlooks for the current quarter and full year.

The Pittsburgh-based company earned $50.3 million, or 53 cents per share, up from $45.4 million, or 48 cents per share, in the same quarter last year. Excluding one-time items including stock-option and acquisition-related charges, the company said it posted an adjusted profit of 72 cents per share for the recent quarter.

Revenue rose 20 percent to $195 million from $162.3 million, boosted by double-digit jumps in both software license and maintenance and service revenue. Excluding the effects of exchange rates, the company said its revenue rose 24 percent.

Ansys, like other companies that do significant business outside the U.S., can be hurt by a rising dollar because income earned in foreign currencies shrinks when it's translated back into the stronger U.S. dollar.

Analysts, on average, expected a profit of 66 cents per share on $193.5 million in revenue, according to a FactSet poll.

For the current quarter, the company projected an adjusted profit of 67 cents to 69 cents per share on $194 million to $202 million in revenue. Analysts expect earnings of 68 cents per share on $200.8 million in revenue.

For the full year, Ansys said it expects to post an adjusted profit of $2.78 to $2.97 per share on $801 million to $824 million in revenue. Analysts expect a profit of $2.82 per share $814.5 million in revenue.

Ansys shares rose $6.95, or 12 percent, to $66.87 in afternoon trading, after peaking at $67.44 earlier in the session. Over the past 52 weeks, the company's shares have traded between $45.72 and $69.34.

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