Revenue of $162.3 million reflected growth in all product lines and services. High performance computing applications and services are in particularly high demand.
Ansys (NASDAQ: ANSS) today reported record second quarter revenue of $162.3 million, the second highest quarter in company history. The company says its deferred revenue, for maintenance contracts and long-term sales agreements, has reached a record high.
The company’s stock broke with the market’s current downward trend, with early trading up 2% to 51.04 on the news.
Revenue for the quarter was up 18% compared to a year earlier. Net income was $45.4 million, up 28% from 2Q10. Revenues in the quarter, ending June 30, 2011, were spread out across all lines and types, with 31% lease, 29% paid-up licenses, 37% maintenance, and 3% service.
Revenue from software licenses was $97.4 million up 19%. Revenue from maintenance and service was $64.8 million, up 15.7 %.
Revenue by regions:
- Americas: $50.9 million, up 5.8%
- Europe: $57.8, up 24.5%
- Rest of World: $53.5 million, up 23.6%
During the quarter eight customers places orders in excess of $1 million, with 84% of the revenue contributing to the all-time high deferred revenue balance of $240.7 million, a 21% increase in the balance compared to the year-ago-quarter. Renewal rates from existing customers were above 90%.
In prepared remarks for financial analysts, Ansys CEO James Cashman said there was growth in all major product lines, with particular strength in high performance computing products and services. During the quarter IBM named Ansys as an ISV partner in its new Engineering Solutions for Cloud initiative, which will be available in the second half of 2011.
The Ansys acquisition of Apache Design Solutions closed on August 1, and will impact revenues starting with the 3Q11 report. (For more information, see the GraphicSpeak article, “Ansys to buy Apache Design Solutions.”
Cash per share on June 30, 2011 was $6.86, up from $5.98 three months earlier.
Five custom charts follow.
L. Stephen Wolfe, P.E, a Jon Peddie Research Contributing Analyst, provided research for this report.
