PITTSBURGH – Ansys reported fourth quarter revenue of $335.9 million, an increase of 11% year-over-year.

Net income was $88.6 million, up 68% compared to the same quarter in 2017.

For 2018, revenue was $1.2 billion, an increase of 11% year-over-year. Net income for the year was $356.9 million, up 38%.

“The fourth quarter was an outstanding quarter capping a stellar 2018,” said Ajei Gopal, president and CEO. “We grew double-digits across all key financial metrics for the quarter and the year.  I am confident we are tracking toward our 2020 objective of sustained, double-digit revenue growth at industry leading margins.”

The company expects first quarter revenue of $286 million to $308 million.

For 2019, Ansys guided for revenue of $1.4 billion to $1.465 billion.