CIMdata PLM Industry Summary Online Archive
November 14, 2007
Financial News
Ansoft Corporation Net Income Increases over 40%; Revenue Increases 14%
Ansoft Corporation today announced financial results for its second quarter of fiscal 2008 ended October 31, 2007.
Revenue for the second quarter totaled $23.4 million, an increase of 14% compared to $20.5 million reported in the previous fiscal year's second quarter.
On a generally accepted accounting principles (GAAP) basis, net income for the second quarter was $5.2 million, or $0.21 per diluted share, representing a 41% increase when compared to GAAP net income of $3.7 million, or $0.14 per diluted share in the previous fiscal year's second quarter.
GAAP net income for second quarter includes employee stock-based compensation expense of $0.3 million, or $0.01 per diluted share. This compares to employee stock-based compensation expense of $0.6 million, or $0.02 per diluted share in the previous fiscal year's second quarter.
Additionally, GAAP net income for both the current and previous year's second quarter includes acquisition related amortization of $0.3 million, or $0.01 per diluted share.
"We are pleased to report strong revenue and earnings growth for the second quarter," said Nicholas Csendes, Ansoft's President and CEO. "For the balance of the fiscal year, 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 achieve first-pass system success when designing mobile communication and Internet-access devices, broadband networking components and systems, integrated circuits (ICs), printed circuit boards (PCBs) and electromechanical systems. 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 harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements are based on management's current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statement, including, but not limited to, management's ability to forecast revenues and control expenses and the amount, timing and structure of software licenses.
For further information regarding risks and uncertainties associated with Ansoft's business, please refer to Ansoft's public reports filed with the SEC, including, but not limited to, its annual report on Form 10-K for the fiscal year ended April 30, 2007 and quarterly reports on Form 10-Q, copies of which may be obtained at Ansoft's website at http://www.ansoft.com/about/investor/index.cfm. (You can also find the full text of this release including charts and graphs)
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