Revenue growth was in line with Ansys’ usual strong showing. The company is projecting total revenue in 2012 of over $800 million.
ANSYS (NASDAQ: ANSS) today reported fourth quarter and fiscal year 2010 results in line with their recent history of strong growth. Net profit for the quarter slipped due to a new and unexpected tax on earnings in Japan, assessed in November 2011. Ansys shares were down 4% to 63.08 on the news as the charge caused Ansys earnings to come in lower than Wall Street expected.
For the fourth quarter (ended December 31, 2011), total revenue was $198.2 million, up 19% from $166.6 million in 4Q10. This is a single-quarter record for Ansys revenue. The recently acquired Apache Software contributed $14 million in the quarter; without the Apache boost revenue would have grown about 6% year-over-year. For the year, Apache’s contribution boosted growth from 15% to 19%.
Software revenue in the fourth quarter was $128.1 million, up 21% from $105 million in 4Q10. Maintenance and service revenue in 4Q11 was $70.1 million, up 14% from $61 million in 4Q10.
Net income for 4Q11 was $47.5 million, down from $49.1 million a year earlier. Ansys took an unexpected charge of $4.8 million against net income due to the new tax in Japan.
Revenue for all of 2011 was $691.4 million, up 19% from $580.2 million in 2010. Of that, software revenue in 2011 was $425.8 million, up 21% from $351 million in 2010; maintenance and service revenue for all of 2011 was $265.6 million, up 15.8% from $229.2 million in 2010.
Net income in 2011 was $180.6 million, up 20% from $153.1 million in 2010.
For the first quarter of 2012, Ansys is expecting revenue to be in the range of $182 million to $189 million. For all of 2012 Ansys is estimating revenue to be in the range of $804 million to $826 million.
Cash per share on December 31, 2011 was $5.11, up from $4.41 three months ago. Ansys is still rebuilding its cash hoard following the Apache acquisition.
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L. Stephen Wolfe, P.E., a contributing analyst for Jon Peddie Research, supplied research for this report.
