PITTSBURGH – Ansys reported revenue of $458.8 million for the third quarter, a decrease of 3% compared to last year's third quarter.

The company projects revenue in the range of $769.2 million to $819.2 million for the fourth quarter and $2.23 billion and $2.28 billion for the full year.

"Ansys continues to see robust, broad-based demand for our technology and products," said Ajei Gopal, Ansys president and CEO. "We were tracking to deliver on our third quarter guidance commitments when we were notified by the U.S. Department of Commerce of incremental export restrictions and enhanced approval processes for certain products and services. This disrupted our business in the quarter by adding restrictions on sales to certain Chinese entities and elongating the transaction cycle for certain prospects. Despite these developments, Ansys delivered a strong quarter, marked by double-digit growth in ACV. Given the critical role that Ansys solutions play in our customers’ product development initiatives and the strength of the underlying foundation of our business, I am confident in our ability to execute on our short- and long-term objectives."

"Our ability to deliver double-digit ACV constant currency growth in Q3, despite the disruption from changes required for export compliance, is a testament to the resilience of our business model," said CFO Nicole Anasenes. "Our highly recurring business model, significant base of renewal business, market-leading simulation portfolio and deep customer relationships create a strong financial foundation and contribute to unwavering demand for our product. Despite the disruption in Q3, our results year-to-date are strong with ACV growth of 12% in constant currency. With our double-digit performance year-to-date and the continued strong pipeline and momentum in our business, we are confident in our ability to achieve our short- and long-term guidance."

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