ANSYS's (ANSS) Q1 Earnings & Revenues Top, Raises '18 View
Zacks Investment Research | May 02, 2018 11:53PM ET
ANSYS Inc. (NASDAQ:ANSS) delivered strong results for first-quarter 2018, wherein both the top and bottom lines fared better than the respective Zacks Consensus Estimates and came ahead of management’s guided range.
Notably, the company has adopted the new revenue rules of ASC 606. The company has incorporated both ASC 605 and ASC 606 calculations while reporting the first-quarter results.
First-quarter 2018 non-GAAP earnings came in at $1.20 per share (per ASC 606), better than management’s guidance of 90 cents to $1.05 per share. The Zacks Consensus Estimate was pegged at $1.06.
Earnings surged 37.1% on a year-over-year basis to $1.22 per share, according to ASC 605 standard.
Non-GAAP revenues increased 11.7% (7% in constant currency) from the year-ago quarter to $283.3 million. The top line also crossed thehigh end of management’s guided range of $261-$281 million. The Zacks Consensus Estimate was pegged at $276.5 million.
The 12.5% year-over-year revenue growth (per ASC 605) was driven by 9.3% increase in software license revenues and 15.2% growth in maintenance and service revenues.
As of Mar 31, 2018, deferred revenues and backlog came in at $595 million per ASC 606. The figure increased 29% on a year over year basis, per ASC 605.
Shares have returned 7% year to date, underperforming
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