CIMdata PLM Industry Summary Online Archive
13 February 2007
Financial News
Ansoft Corporation Third Quarter Earnings Increase 48%
Ansoft Corporation announced financial results for its third quarter of fiscal 2007 ended January 31, 2007. All references to share and per share information, except shares authorized, 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 March 7, 2006 and distributed on May 9, 2006.
Revenue for the third quarter totaled $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 January 1, 2006 in December 2006.
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 amortization 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%."
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.
For further information regarding risks and uncertainties associated with Ansoft's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of Ansoft's SEC filings, including, but not limited to, its annual report on Form 10-K 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 .
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