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| ANSYS Reports First Quarter 2009 Results |
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Posted Wed May 27, 2009 @09:21AM
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ANSYS, Inc., a global innovator of simulation software and technologies designed to optimize product development processes, has announced first quarter 2009 results.
"Overall, we had a challenging quarter, but we still delivered earnings at the upper end of our guidance, with strong gross and operating margins. As expected, we were highly impacted by the combination of the uncertain macroeconomic environment and stiff currency headwinds." stated Jim Cashman, ANSYS president and CEO.
Overall, earnings rose $12M over Q1 2008 while profit margin dropped slightly from 47.3% to 46.1%. ANSYS estimates 2009 earnings to be in the range $502M - $552M
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Despite these obstacles, we remain encouraged by the continued interest in our product strategy and vision. However, as we have seen throughout the first part of this year, most of our customers were also impacted by the uncertainty of the global economy and are continuing to wait for the economy to show more signs of stability or improvement before committing to increasing their investment rates. In the interim, we have worked hard to anticipate and modulate our business model around a whole host of variables that are largely outside of our control. We believe that our first quarter results are a clear demonstration that the ANSYS team has continued to focus on those elements of our business that we can control - namely our resource deployment and spending, which has resulted in strong margins, solid recurring revenue and cash flows, and continued profitability for the quarter. With the recent commercial release of ANSYSŪ 12.0, we have also significantly extended the breadth and depth of our world-class engineering simulation platform, positively positioning us for the future," stated Jim Cashman, ANSYS president and CEO.
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