PITTSBURGH – Under ASC 605, Ansys reported third quarter GAAP revenue of $302 million, up 10% year-over-year.

GAAP net income for the quarter was $100.1 million, an increase of 36%.

Under ASC 606, revenue was $289.4 million, and net income was $89.3 million.

“The third quarter was a record-breaking quarter for Ansys, as we delivered double-digit growth across revenue, EPS and ACV,” said Ajei Gopal, president and CEO. “The digital revolution is driving customers to transform their product development processes to achieve greater agility, innovation and cost synergies, and Ansys’ simulation solutions are enabling customers to achieve these seemingly divergent objectives with increased functionality and usability across our entire product portfolio."

Under ASC 605, year-to-date revenue was $880.6 million, up 11% year-over-year.

Net income for the first nine months of the year was $268.3 million, an increase of 30%.

Under ASC 606, the company recorded year-to-date revenue of $878.2 million and net income of $266.2 million.

For the fourth quarter ending Dec. 31, Ansys expects revenue of $349.5 million to $369.5 million (under ASC 606).

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