ANSYS, Inc. (NASDAQ:ANSS), today announced its financial results
for the first quarter of 2016. The Company reported GAAP and
non-GAAP revenue growth in constant currency of 6% and 5%,
respectively, and GAAP and non-GAAP diluted earnings per share of
$0.63 and $0.77, respectively, for the quarter. Recurring
revenue, which is comprised of lease license and maintenance
revenue, totaled 78% of revenue for the first quarter.
“Our first quarter results reflect a solid start to the year
with strong contributions from markets such as India and China,
partially offset by less than expected growth in Europe and North
America. We are highly focused on improving direct and
indirect sales execution, enhancing our growth rates and continuing
to generate returns for our shareholders over the long-term.
Through solid internal execution and discipline, we achieved strong
margins and earnings, we generated over $100 million in operating
cash flow and we continued to return capital to shareholders
through our recently increased share repurchase plan,” commented
Jim Cashman, ANSYS President and Chief Executive Officer.
He continued, “During Q1, we signed an enterprise license
agreement of over $10 million with one of our long-standing
industrial equipment customers, successfully completing the largest
displacement of a competitor’s mechanical code in our history, and
ultimately proved that the ANSYS solutions are more capable,
accurate and faster. As we have observed our customers’
historical buying preferences evolving, we have recently expanded
our licensing offerings, introducing a new elastic licensing model
in the first quarter. Providing usage-based access to
virtually our entire portfolio is yet another significant
differentiator for ANSYS and an additional means to reach a greater
number of users.”
ANSYS' first quarter financial results are presented below.
|
GAAP |
|
Non-GAAP |
(in millions, except
EPS and %’s) |
Q1 2016 |
Q1 2015 |
% Change |
|
Q1 2016 |
Q1 2015 |
% Change |
|
|
|
|
|
|
|
|
Revenue |
$ |
225.9 |
|
$ |
217.8 |
|
|
4 |
% |
|
$ |
226.0 |
|
$ |
218.4 |
|
|
3 |
% |
Net income |
$ |
56.5 |
|
$ |
56.1 |
|
|
1 |
% |
|
$ |
69.4 |
|
$ |
70.8 |
|
|
(2 |
%) |
Earnings per share |
$ |
0.63 |
|
$ |
0.61 |
|
|
3 |
% |
|
$ |
0.77 |
|
$ |
0.77 |
|
|
0 |
% |
Operating profit
margin |
|
37.6 |
% |
|
36.8 |
% |
|
|
|
46.4 |
% |
|
47.3 |
% |
|
Operating cash
flow |
$ |
108.6 |
|
$ |
114.1 |
|
|
(5 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The non-GAAP financial results highlighted above, and the
non-GAAP financial outlook for 2016 discussed below, represent
non-GAAP financial measures. The 2016 and 2015 non-GAAP results
exclude the income statement effects of acquisition adjustments to
deferred revenue, the impact of stock-based compensation and
acquisition-related amortization of intangible assets, as well as
acquisition-related transaction costs. Reconciliations of
these measures to the appropriate GAAP measures for the three
months ended March 31, 2016 and 2015, and for the 2016 financial
outlook, are included in the condensed financial information
included in this release.
Management's Remaining 2016 Financial Outlook
The Company has provided its second quarter and fiscal year 2016
revenue and earnings per share guidance below. The earnings per
share guidance is provided on both a GAAP and a non-GAAP
basis. Non-GAAP diluted earnings per share excludes charges
for stock-based compensation, the income statement effects of
acquisition accounting for deferred revenue, acquisition-related
amortization of intangible assets and acquisition-related
transaction costs.
Second Quarter and Fiscal Year 2016 Guidance
The Company currently expects the following for the quarter
ending June 30, 2016:
- GAAP revenue in the range of $240.0 - $248.0 million
- Non-GAAP revenue in the range of $240.0 - $248.0 million
- GAAP diluted earnings per share of $0.69 - $0.75
- Non-GAAP diluted earnings per share of $0.86 - $0.90
The Company currently expects the following for the fiscal year
ending December 31, 2016:
- GAAP revenue in the range of $990.0 - $1,020 million ($1.02
billion)
- Non-GAAP revenue in the range of $990.0 - $1,020 million ($1.02
billion)
- GAAP diluted earnings per share of $2.81 - $2.98
- Non-GAAP diluted earnings per share of $3.48 - $3.62
These statements are forward-looking and actual results may
differ materially. Non-GAAP diluted earnings per share is a
supplemental financial measure and should not be considered as a
substitute for, or superior to, diluted earnings per share
determined in accordance with GAAP.
Conference Call Information
ANSYS will hold a conference call at 10:30 a.m. Eastern Time on
May 5, 2016 to discuss first quarter results. The Company will
provide its prepared remarks on the Company’s investor relations
homepage and as an exhibit in its Form 8-K in advance of the call
to provide shareholders and analysts with additional time and
detail for analyzing its results in preparation for the conference
call. The prepared remarks will not be read on the call – only
brief remarks will be made prior to the Q&A session.
To participate in the live conference call, dial 855-239-2942
(US) or 412-542-4124 (Canada & Int’l). The call will be
recorded and a replay will be available approximately one hour
after the call ends. The replay will be available for ten days by
dialing 877-344-7529 (US), 855-669-9658 (Canada toll-free) or
412-317-0088 (Int’l) and entering the passcode 10084641. The
archived webcast can be accessed, along with other financial
information, on ANSYS' web site at:
http://investors.ansys.com
ANSYS, INC. AND SUBSIDIARIES |
|
Condensed Consolidated Balance Sheets |
|
(in thousands) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2016 |
|
December 31, 2015 |
|
ASSETS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash &
short-term investments |
|
$ |
863,877 |
|
|
$ |
784,614 |
|
|
Accounts
receivable, net |
|
|
|
82,498 |
|
|
|
91,579 |
|
|
Goodwill |
|
|
|
|
1,334,129 |
|
|
|
1,332,348 |
|
|
Other
intangibles, net |
|
|
|
|
209,677 |
|
|
|
220,553 |
|
|
Other
assets |
|
|
|
|
268,647 |
|
|
|
300,810 |
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets |
|
|
|
$ |
2,758,828 |
|
|
$ |
2,729,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
& STOCKHOLDERS' EQUITY: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred
revenue |
|
|
$ |
375,140 |
|
|
$ |
364,644 |
|
|
Other
liabilities |
|
|
|
149,785 |
|
|
|
170,833 |
|
|
Stockholders'
equity |
|
|
|
2,233,903 |
|
|
|
2,194,427 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities &
stockholders' equity |
|
$ |
2,758,828 |
|
|
$ |
2,729,904 |
|
|
|
|
|
|
|
|
|
|
|
|
ANSYS, INC. AND SUBSIDIARIES |
Consolidated Statements of Income |
(in thousands, except per share data) |
(Unaudited) |
|
|
|
|
|
|
Three Months
Ended |
|
|
March 31, 2016 |
March 31, 2015 |
Revenue: |
|
|
|
|
|
|
|
|
Software licenses |
|
$ |
126,051 |
|
|
$ |
124,969 |
|
Maintenance and service |
|
|
99,855 |
|
|
|
92,812 |
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
|
225,906 |
|
|
|
217,781 |
|
|
|
|
|
Cost of
sales: |
|
|
|
Software licenses |
|
|
6,738 |
|
|
|
7,209 |
|
Amortization |
|
|
9,511 |
|
|
|
9,357 |
|
Maintenance and service |
|
|
19,036 |
|
|
|
19,322 |
|
Total cost of sales |
|
|
35,285 |
|
|
|
35,888 |
|
|
|
|
|
|
|
|
Gross
profit |
|
|
190,621 |
|
|
|
181,893 |
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
Selling, general and
administrative |
|
|
57,769 |
|
|
|
56,749 |
|
Research and development |
|
|
44,672 |
|
|
|
40,009 |
|
Amortization |
|
|
3,158 |
|
|
|
5,077 |
|
Total operating expenses |
|
|
105,599 |
|
|
|
101,835 |
|
|
|
|
|
|
|
|
Operating
income |
|
|
85,022 |
|
|
|
80,058 |
|
|
|
|
|
Interest
expense |
|
|
(86 |
) |
|
|
(154 |
) |
Interest
income |
|
|
950 |
|
|
|
656 |
|
Other
(expense) income, net |
|
|
(108 |
) |
|
|
767 |
|
|
|
|
|
|
|
|
Income
before income tax provision |
|
|
85,778 |
|
|
|
81,327 |
|
|
|
|
|
Income tax
provision |
|
|
29,310 |
|
|
|
25,195 |
|
|
|
|
|
|
|
|
|
|
Net
income |
|
$ |
56,468 |
|
|
$ |
56,132 |
|
|
|
|
|
|
|
|
|
|
Earnings
per share – basic: |
|
|
|
Basic earnings per share |
|
$ |
0.64 |
|
|
$ |
0.62 |
|
Weighted average shares -
basic |
|
|
88,114 |
|
|
|
90,059 |
|
|
|
|
|
Earnings
per share – diluted: |
|
|
|
Diluted earnings per share |
|
$ |
0.63 |
|
|
$ |
0.61 |
|
Weighted average shares -
diluted |
|
|
90,084 |
|
|
|
92,140 |
|
ANSYS, INC. AND SUBSIDIARIES |
Reconciliation of Non-GAAP
Measures |
(Unaudited) |
(in thousands, except percentages and per
share data) |
|
|
|
Three Months Ended |
|
|
|
March 31,
2016 |
|
March 31, 2015 |
|
|
As Reported |
Adjustments |
|
Non-GAAP Results |
|
As Reported |
Adjustments |
|
Non-GAAP Results |
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
$ |
225,906 |
|
|
$ |
103 (1) |
|
$ |
226,009 |
|
|
|
$ |
217,781 |
|
|
$ |
593 (4) |
|
$ |
218,374 |
|
Operating income |
|
|
85,022 |
|
|
|
19,850
(2) |
|
|
104,872 |
|
|
|
|
80,058 |
|
|
|
23,133
(5) |
|
|
103,191 |
|
Operating profit
margin |
|
|
37.6 |
% |
|
|
|
|
|
46.4 |
% |
|
|
|
36.8 |
% |
|
|
|
|
|
47.3 |
% |
Net income |
|
$ |
56,468 |
|
|
$ |
12,965
(3) |
|
$ |
69,433 |
|
|
|
$ |
56,132 |
|
|
$ |
14,682
(6) |
|
$ |
70,814 |
|
Earnings per share –
diluted: |
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
|
$ |
0.63 |
|
|
|
|
|
$ |
0.77 |
|
|
|
$ |
0.61 |
|
|
|
|
|
$ |
0.77 |
|
Weighted average shares -
diluted |
|
|
90,084 |
|
|
|
|
|
|
90,084 |
|
|
|
|
92,140 |
|
|
|
|
|
|
92,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Amount represents the revenue not reported during the period
as a result of the acquisition accounting adjustment associated
with accounting for deferred revenue in business combinations.
(2) Amount represents $12.7 million of amortization expense
associated with intangible assets acquired in business
combinations, $7.1 million of stock-based compensation expense and
the $0.1 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, adjusted for the related income
tax impact of $6.9 million.
(4) Amount represents the revenue not reported during the period
as a result of the acquisition accounting adjustment associated
with accounting for deferred revenue in business combinations.
(5) Amount represents $14.4 million of amortization expense
associated with intangible assets acquired in business
combinations, $7.8 million of stock-based compensation expense, the
$0.6 million adjustment to revenue as reflected in (4) above and
$0.3 million of transaction expenses related to business
combinations.
(6) Amount represents the impact of the adjustments to operating
income referred to in (5) above, adjusted for the related income
tax impact of $8.5 million.
ANSYS, INC. AND SUBSIDIARIES |
Reconciliation of Forward-Looking Guidance |
Quarter Ending June 30, 2016 |
|
|
Diluted Earnings Per Share Range |
U.S. GAAP guidance |
$0.69 -
$0.75 |
Adjustment to exclude
acquisition–related amortization |
$0.08 -
$0.09 |
Adjustment to exclude
stock–based compensation |
$0.07 -
$0.08 |
|
|
Non-GAAP guidance |
$0.86 - $0.90 |
|
|
ANSYS, INC. AND SUBSIDIARIES |
Reconciliation of Forward-Looking Guidance |
Year Ending December 31, 2016 |
|
|
Diluted Earnings Per Share Range |
U.S. GAAP guidance |
$2.81 -
$2.98 |
Adjustment to exclude
acquisition–related amortization |
$0.35 -
$0.36 |
Adjustment to exclude
stock–based compensation |
$0.29 -
$0.31 |
|
|
Non-GAAP guidance |
$3.48 - $3.62 |
|
|
Use of Non-GAAP Measures The Company
provides non-GAAP revenue, non-GAAP operating income, non-GAAP
operating profit margin, non-GAAP net income and non-GAAP diluted
earnings per share as supplemental measures to GAAP regarding the
Company's operational performance. These financial measures exclude
the impact of certain items and, therefore, have not been
calculated in accordance with GAAP. A detailed explanation and of
each of the adjustments to such financial measures is described
below. This press release also contains a reconciliation of each of
these non-GAAP financial measures to its most comparable GAAP
financial measure.
Management uses non-GAAP financial measures (a)
to evaluate the Company's historical and prospective financial
performance as well as its performance relative to its competitors,
(b) to set internal sales targets and spending budgets, (c) to
allocate resources, (d) to measure operational profitability and
the accuracy of forecasting, (e) to assess financial discipline
over operational expenditures and (f) as an important factor in
determining variable compensation for management and its employees.
In addition, many financial analysts that follow the Company focus
on and publish both historical results and future projections based
on non-GAAP financial measures. The Company believes that it is in
the best interest of its investors to provide this information to
analysts so that they accurately report the non-GAAP financial
information. Moreover, investors have historically requested and
the Company has historically reported these non-GAAP financial
measures as a means of providing consistent and comparable
information with past reports of financial results.
While management believes that these non-GAAP
financial measures provide useful supplemental information to
investors, there are limitations associated with the use of these
non-GAAP financial measures. These non-GAAP financial measures are
not prepared in accordance with GAAP, are not reported by all of
the Company's competitors and may not be directly comparable to
similarly titled measures of the Company's competitors due to
potential differences in the exact method of calculation. The
Company compensates for these limitations by using these non-GAAP
financial measures as supplements to GAAP financial measures and by
reviewing the reconciliations of the non-GAAP financial measures to
their most comparable GAAP financial measures.
The adjustments to these non-GAAP financial
measures, and the basis for such adjustments, are outlined
below:
Acquisition accounting for deferred
revenue and its related tax impact. Historically, the
Company has consummated acquisitions in order to support its
strategic and other business objectives. In accordance with
the fair value provisions applicable to the accounting for business
combinations, acquired deferred revenue is often recorded on the
opening balance sheet at an amount that is lower than the
historical carrying value. Although this acquisition
accounting requirement has no impact on the Company's business or
cash flow, it adversely impacts the Company's reported GAAP revenue
in the reporting periods following an acquisition. In order to
provide investors with financial information that facilitates
comparison of both historical and future results, the Company
provides non-GAAP financial measures which exclude the impact of
the acquisition accounting adjustment. The Company believes that
this non-GAAP financial adjustment is useful to investors because
it allows investors to (a) evaluate the effectiveness of the
methodology and information used by management in its financial and
operational decision-making and (b) compare past and future reports
of financial results of the Company as the revenue reduction
related to acquired deferred revenue will not recur when related
annual lease licenses and software maintenance contracts are
renewed in future periods.
Amortization of intangible assets from
acquisitions and its related tax impact. The Company
incurs amortization of intangible assets, included in its GAAP
presentation of amortization expense, related to various
acquisitions it has made. Management excludes these expenses and
their related tax impact for the purpose of calculating non-GAAP
operating income, non-GAAP operating profit margin, non-GAAP net
income and non-GAAP diluted earnings per share when it evaluates
the continuing operational performance of the Company because these
costs are fixed at the time of an acquisition, are then amortized
over a period of several years after the acquisition and generally
cannot be changed or influenced by management after the
acquisition. Accordingly, management does not consider these
expenses for purposes of evaluating the performance of the Company
during the applicable time period after the acquisition, and it
excludes such expenses when making decisions to allocate resources.
The Company believes that these non-GAAP financial measures are
useful to investors because they allow investors to (a) evaluate
the effectiveness of the methodology and information used by
management in its financial and operational decision-making and (b)
compare past reports of financial results of the Company as the
Company has historically reported these non-GAAP financial
measures.
Stock-based compensation expense and its
related tax impact. The Company incurs expense related to
stock-based compensation included in its GAAP presentation of cost
of software licenses; cost of maintenance and service; research and
development expense; and selling, general and administrative
expense. Although stock-based compensation is an expense of the
Company and viewed as a form of compensation, management excludes
these expenses for the purpose of calculating non-GAAP operating
income, non-GAAP operating profit margin, non-GAAP net income and
non-GAAP diluted earnings per share when it evaluates the
continuing operational performance of the Company. Specifically,
the Company excludes stock-based compensation during its annual
budgeting process and its quarterly and annual assessments of the
Company's and management's performance. The annual budgeting
process is the primary mechanism whereby the Company allocates
resources to various initiatives and operational requirements.
Additionally, the annual review by the board of directors during
which it compares the Company's historical business model and
profitability to the planned business model and profitability for
the forthcoming year excludes the impact of stock-based
compensation. In evaluating the performance of senior management
and department managers, charges related to stock-based
compensation are excluded from expenditure and profitability
results. In fact, the Company records stock-based
compensation expense into a stand-alone cost center for which no
single operational manager is responsible or accountable. In
this way, management is able to review, on a period-to-period
basis, each manager's performance and assess financial discipline
over operational expenditures without the effect of stock-based
compensation. The Company believes that these non-GAAP financial
measures are useful to investors because they allow investors to
(a) evaluate the Company's operating results and the effectiveness
of the methodology used by management to review the Company's
operating results, and (b) review historical comparability in the
Company’s financial reporting, as well as comparability with
competitors' operating results.
Transaction costs related to business
combinations. The Company incurs expenses for
professional services rendered in connection with business
combinations, which are included in its GAAP presentation of
selling, general and administrative expense. These expenses
are generally not tax-deductible. Management excludes these
acquisition-related transaction expenses for the purpose of
calculating non-GAAP operating income, non-GAAP operating profit
margin, non-GAAP net income and non-GAAP diluted earnings per share
when it evaluates the continuing operational performance of the
Company, as it generally would not have otherwise incurred these
expenses in the periods presented as a part of its continuing
operations. The Company believes that these non-GAAP
financial measures are useful to investors because they allow
investors to (a) evaluate the Company's operating results and the
effectiveness of the methodology used by management to review the
Company's operating results, and (b) review historical
comparability in the Company’s financial reporting as well as
comparability with competitors' operating results.
Non-GAAP financial measures are not in
accordance with, or an alternative for GAAP. The Company's non-GAAP
financial measures are not meant to be considered in isolation or
as a substitute for comparable GAAP financial measures, and should
be read only in conjunction with the Company's consolidated
financial statements prepared in accordance with GAAP.
Pursuant to the requirements of Regulation G,
the Company has provided a reconciliation of the non-GAAP financial
measures to the most directly comparable GAAP financial measures as
listed below:
GAAP Reporting
Measure |
|
Non-GAAP
Reporting Measure |
|
|
|
Revenue |
|
Non-GAAP Revenue |
Operating Income |
|
Non-GAAP Operating
Income |
Operating Profit
Margin |
|
Non-GAAP Operating
Profit Margin |
Net Income |
|
Non-GAAP Net
Income |
Diluted Earnings Per
Share |
|
Non-GAAP Diluted
Earnings Per Share |
|
|
|
About ANSYS, Inc.
ANSYS brings clarity and insight to customers'
most complex design challenges through fast, accurate and reliable
engineering simulation. Our technology enables organizations ― no
matter their industry ― to predict with confidence that their
products will thrive in the real world. Customers trust our
software to help ensure product integrity and drive business
success through innovation. Founded in 1970, ANSYS employs almost
3,000 professionals, many of them experts in engineering fields
such as finite element analysis, computational fluid dynamics,
electronics and electromagnetics, and design optimization.
Headquartered south of Pittsburgh, Pennsylvania, U.S.A., ANSYS has
more than 75 strategic sales locations throughout the world with a
network of channel partners in 40+ countries.
Forward Looking Information
Certain statements contained in this press
release regarding matters that are not historical facts, including,
but not limited to, statements regarding our projections for
revenue and earnings per share for the second quarter of
2016, fiscal year 2016 (both GAAP and non-GAAP to exclude
acquisition accounting adjustments to deferred revenue,
acquisition-related amortization, stock-based compensation expense
and acquisition-related transaction costs); statements about
management's views concerning the Company's prospects and outlook
for 2016, including statements and projections relating to the
impact of stock-based compensation, statements regarding
management's use of non-GAAP financial measures, statements
regarding the Company’s second quarter and beyond visibility,
statements regarding being highly focused on improving direct
and indirect sales execution, statements regarding enhancing our
growth rates statements regarding continuing to generate returns
for our shareholders over the long-term and statements regarding
the impact of usage-based access to our portfolio are
"forward-looking" statements (as defined in the Private Securities
Litigation Reform Act of 1995). Because such statements are subject
to risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking statements.
All forward-looking statements in this press release are subject to
risks and uncertainties including, but not limited to, the risk
that adverse conditions in the global and domestic markets
will significantly affect ANSYS’ customers’ ability to purchase
products from the Company at the same level as prior periods or to
pay for the Company’s products and services, the risk that declines
in the ANSYS’ customers’ business may lengthen customer sales
cycles, the risk of declines in the economy of one or more of
ANSYS’ primary geographic regions, the risk that ANSYS’ revenues
and operating results will be adversely affected by changes in
currency exchange rates or economic declines in any of the
countries in which ANSYS conducts transactions, the risk that the
assumptions underlying ANSYS' anticipated revenues and expenditures
will change or prove inaccurate, the risk that ANSYS has
overestimated its ability to maintain growth and profitability and
control costs, uncertainties regarding the demand for ANSYS'
products and services in future periods, the risk that ANSYS has
overestimated the strength of the demand among its customers for
its products, uncertainties regarding customer acceptance of new
products including our elastic licensing model, the risk that
ANSYS' operating results will be adversely affected by possible
delays in developing, completing or shipping new or enhanced
products, the risk that enhancements to the Company's products or
products acquired in acquisitions may not produce anticipated
sales, the risk that the Company may not be able to recruit and
retain key executives and technical personnel, the risk that third
parties may misappropriate the Company’s proprietary technology or
develop similar technology independently, the risk of unauthorized
access to and distribution of the Company’s source code, the risk
of difficulties in the relationship with ANSYS’ independent
regional channel partners, the risk that ANSYS may not achieve the
anticipated benefits of its acquisitions or that the integration of
the acquired technologies or products with the Company’s existing
product lines may not be successful, and other factors that are
detailed from time to time in reports filed by ANSYS, Inc. with the
Securities and Exchange Commission, including ANSYS, Inc.'s 2015
Annual Report and Form 10-K. We undertake no obligation to publicly
update or revise any forward-looking statements, whether changes
occur as a result of new information or future events, after the
date they were made.
ANSYS and any and all ANSYS, Inc. brand,
product, service and feature names, logos and slogans are
registered trademarks or trademarks of ANSYS, Inc. or its
subsidiaries in the United States or other countries. All
other brand, product, service and feature names or trademarks are
the property of their respective owners.
Visit www.ansys.com for more information. The
ANSYS IR App is now available for download
on iTunes and Google Play. ANSYS also has a strong
presence on the major social channels. To join the simulation
conversation, please visit: www.ansys.com/Social@ANSYS
ANSS-F
Contact:
Investors: Annette N. Arribas, CTP
724.820.3700
annette.arribas@ansys.com
Media: Amy Pietzak
724.820.4367
amy.pietzak@ansys.com
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