Friday, May 6, 2011

Ansys ( Nasdaq - ANSS ) -- Q1 Results on Target

Ansys (ANSS $54.00) reported excellent on target Q1 results.  The company is the leading provider of engineering simulation software.  Sales increased 16% to $158.0 million.  Non-GAAP earnings climbed 21% to $.57 a share.  Renewal rates stayed high.  Customers added more seats to existing deals, resulting in a record 17 million dollar contracts during the quarter.  Demand was especially vibrant in the electronics, automobile, and aerospace industries.  Emerging areas included nuclear power safety and bioscience.  Orders increased 20%.  Margins were sustained at unusually high levels.  Our full year estimates are unchanged.

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