CANONSBURG, PA – Ansys reported fourth quarter GAAP revenue of $486.2 million, up 17% year-over-year.

GAAP net income was $169.9 million, an increase of 8% compared to the fourth quarter of 2018.

For 2019, GAAP revenue was $1.5 billion, up 17% year-over-year. Net income for the year was $451.3 million, an increase of 8%.

“The fourth quarter was an outstanding quarter concluding a stellar 2019,” said Ajei Gopal, Ansys president and CEO. “We grew double digits across revenue and ACV for the quarter and the year, and I am confident we are tracking toward our 2022 objective of $2 billion in ACV. Our strong execution is a solid testament to the underlying momentum in our business, and I am proud of the numerous milestones we accomplished in 2019. We extended our market and technology leadership and differentiated our multi-physics product portfolio both organically, as well as through strategic acquisitions, and expanded our partner ecosystem. Our vision of making simulation pervasive across the product lifecycle is resonating with customers and partners, and we believe we are in the early innings of transformative growth and driving long-term value creation in 2020 and beyond.”

“The fourth quarter capped a very strong year and demonstrated the strength of our business model,” said Maria Shields, Ansys CFO. “We set new company records across key financial metrics, including our fourth quarter and full-year 2019 revenue, ACV, earnings and operating cash flows. We also grew our deferred revenue and backlog, setting a new year-end record at $871 million, an increase of 32% over 2018. To deliver on both our near-term and longer-term growth objectives, we continue to invest in our core products, high-growth adjacent markets and digital transformation initiatives to scale our business. Our leadership in the simulation market continues to strengthen, giving us increasing confidence in our ability to achieve our 2022 long-term targets.”

The company expects first quarter revenue between $296.1 million and $316.1 million. For 2020, Ansys expects revenue between $1.63 billion and $1.69 billion.

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