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Ansys tops Street 1Q forecasts

CANONSBURG, Pa. (AP) _ Ansys Inc. (ANSS) on Wednesday reported first-quarter net income of $63.3 million.

On a per-share basis, the Canonsburg, Pennsylvania-based company said it had net income of 73 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 89 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The maker of engineering-simulation software posted revenue of $253.4 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $241.5 million.

For the current quarter ending in July, Ansys expects its per-share earnings to range from 88 cents to 93 cents.

The company said it expects revenue in the range of $253.6 million to $262.6 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $255.1 million.

Ansys expects full-year earnings in the range of $3.68 to $3.85 per share, with revenue ranging from $1.03 billion to $1.06 billion.

Ansys shares have climbed 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $111, a climb of 22 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANSS at https://www.zacks.com/ap/ANSS


Keywords: Ansys, Earnings Report