PITTSBURGH -- Ansys today reported second quarter revenue grew 5.7% to $149.9 million.
Net income for the period ended Jun. 30 was essentially flat, at $69.7 million.
Revenue was up 8% in constant currency.
Recurring revenue, comprised of lease license and annual maintenance revenue, grew by double-digits and totaled 76% of revenue for the second quarter.
Ajei Gopal, Ansys president and CEO, commented, “I am delighted to see our focus on sales execution has resulted in another quarter of excellent financial performance that surpassed the high end of our expectations for both revenue and earnings. Our second quarter success was led by 13% revenue growth in our business in North America and 7% growth in Asia, and is a testament to the strength of our product portfolio and our strong customer relationships. Europe continues to lag, but we are making good progress in addressing the organizational and go-to-market issues that will be key to future performance.”
Maria Shields, Ansys CFO, added, “We posted another quarter of strong operating results as evidenced by record second quarter revenue, deferred revenue and backlog, and operating cash flows. Our operating margin and earnings performance were both above the high end of our guidance, driven by the over-performance in revenues and a slower pace of hiring than planned.”
The form took GAAP restructuring charges of $2 million ($1.4 million, net of tax) in the quarter related to a previously announced workforce realignment.
Ansys guided for third quarter GAAP revenue of $256.6 million to $266 million.
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