PITTSBURGH -- Ansys reported first quarter revenue rose 12% year-over-year, or 7% in constant currency, to $282.9 million.

Net income rose more than 30% to $84.3 million.

Recurring revenue, which comprises lease license and annual maintenance revenue, totaled 78% of revenue. Deferred revenue and backlog reached a record $841.7 million at quarter's end, a 29% increase over last year.

“We are off to a strong start in 2018, delivering record revenue and earnings per share, both of which were above the high end of our guidance," said Ajei Gopal, president and CEO, Ansys. "We had 30 customers each with combined orders over $1 million, including the signing of the largest deal in the company’s history, a $50 million three-year contract. We continued to see improvement within our European operations, which grew 9% in constant currency, including double-digit revenue growth in Germany, France and the United Kingdom. We also announced the acquisition of Optis, a leader in optical simulation. The transaction will add another physics to our multi-physics portfolio, and enhance our product offerings for autonomous vehicles."

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