ANSYS Announces Record Q2 2018 Financial Results: Driven by Strong Revenue and Earnings Growth

(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(2) Amount represents $35.9 million of stock-based compensation expense, $3.5 million of excess payroll taxes related to stock-based awards, $24.8 million of amortization expense associated with intangible assets acquired in business combinations, $2.3 million of transaction expenses related to business combinations and the $3.3 million adjustment to revenue as reflected in (1) above.

(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, decreased for the related income tax impact of $29.3 million and rabbi trust income of $0.1 million, and increased for a measurement-period adjustment related to the Tax Cuts and Jobs Act of $1.4 million.


 
ANSYS, INC. AND SUBSIDIARIES
ASC 605 Reconciliation of Non-GAAP Measures
(Unaudited)
  Three Months Ended
  June 30, 2018  June 30, 2017
(in thousands, except percentages and per share data) GAAP
Results
  Adjustments  Non-GAAP
Results
  GAAP
Results
  Adjustments  Non-
GAAP
Results
Total revenue $ 294,026   $ 4,860  (1 ) $ 298,886  $263,924  $424 (4)$264,348 
Operating income 96,666   39,468  (2 ) 136,134  98,394  29,163 (5)127,557 
Operating profit margin 32.9 %    45.5 % 37.3%   48.3%
Net income $ 82,412   $ 24,611  (3 ) $ 107,023  $69,730  $16,659 (6)$86,389 
Earnings per share – diluted:           
Earnings per share $ 0.96     $ 1.24  $0.80    $0.99 
Weighted average shares 85,986     85,986  86,895    86,895 
                

(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.

(2) Amount represents $20.6 million of stock-based compensation expense, $0.4 million of excess payroll taxes related to stock-based awards, $12.6 million of amortization expense associated with intangible assets acquired in business combinations, $1.0 million of transaction expenses related to business combinations and the $4.9 million adjustment to revenue as reflected in (1) above.

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