PITTSBURGH – Ansoft Corp. reported record financial results for its fourth quarter of fiscal 2007 ended April 30, 2007. Revenue for the fourth quarter totaled $28.6 million, an increase of 16% compared to $24.7 million reported in the previous fiscal year's fourth quarter.
On a generally accepted accounting principles (GAAP) basis, net income for the fourth quarter was $7.9 million compared to GAAP net income of $8.3 million. GAAP net income for the previous fiscal year's fourth quarter included a $1 million income tax benefit associated with the reversal of the company's remaining valuation allowance for certain U.S. Federal net deferred tax assets.
GAAP net income for the current quarter includes acquisition related amortization of $0.3 million. This compares to acquisition related amortization of $0.4 million in the previous fiscal year's fourth quarter. "We experienced strong revenue growth and are pleased to report record revenue for the fourth quarter," said Nicholas Csendes, Ansoft's president and CEO. "For the next fiscal year, we anticipate continued revenue growth of around 10-15%."
Revenue for the fiscal year totaled $89.1 million, an increase of 15% compared to $77.2 million reported in the previous fiscal year.