CANONSBURG, Pa. — Engineering simulation specialist Ansys on Wednesday reported first-quarter earnings of $71 million.
On a per-share basis, the Canonsburg, Pennsylvania-based company said it had net income of 81 cents. Earnings, adjusted for one-time gains and costs, came to $1.36 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The maker of engineering-simulation software posted revenue of $425.1 million in the period. Its adjusted revenue was $428.6 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $406.4 million.
For the current quarter ending in July, Ansys expects its per-share earnings to range from $1.46 to $1.64. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.83.
The company said it expects revenue in the range of $450 million to $475 million for the fiscal year’s second quarter. Analysts surveyed by Zacks had expected revenue of $485.5 million.
Ansys expects full-year earnings in the range of $7.53 to $7.94 per share, with revenue ranging from $2.01 billion to $2.07 billion.
Ansys shares have fallen 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $288.71, a decrease of 18% in the last 12 months.
