ANSYS Reports Revenue and Earnings Growth for Fourth Quarter and Fiscal Year 2009, Updates Outlook

 

ANSYS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures

(Unaudited)

(in thousands, except percentages and per share data)

           

Three Months Ended

December 31, 2009

December 31, 2008

As

Non-GAAP

As

Non-GAAP

Reported

Adjustments

Results

Reported

Adjustments

Results

 
Total revenue $150,362 $ 219(1) $150,581 $135,301 $ 8,027(4) $143,328
 
Operating income 60,356 17,250(2) 77,606 45,780 24,094(5) 69,874
 
Operating profit margin 40.1% 51.5% 33.8% 48.8%
 
Net income $37,630 $11,312(3) $48,942 $ 31,913 $14,645(6) $ 46,558
 
Earnings per share - diluted:
Diluted earnings per share $ 0.41 $ 0.53 $ 0.34 $ 0.50
Weighted average shares - diluted 92,277 92,277 93,230 93,230
(1)   Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with accounting for deferred revenue in business combinations.
 
(2) Amount represents $13.1 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list, trademarks and non-compete agreements, a $3.9 million charge for stock-based compensation, as well as the $219,000 adjustment to revenue as reflected in (1) above.
 
(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $5.9 million.
 
(4) Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with accounting for deferred revenue in business combinations.
 
(5) Amount represents $13.0 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list, trademarks and non-compete agreements, a $3.1 million charge for stock-based compensation, as well as the $8.0 million adjustment to revenue reflected in (4) above.
 
(6) Amount represents the impact of the adjustments to operating income referred to in (5) above, adjusted for the related income tax impact of $9.4 million.

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