Ansoft approaches break even point

Edited by the Electronicstalk editorial team Feb 25, 2003

Ansoft has revealed financial results for its third fiscal quarter ended 31st January 2003.

Ansoft has revealed financial results for its third fiscal quarter ended 31st January 2003.

Revenue for the third quarter of fiscal 2003 totalled $12.4 million, an increase of 17% as compared sequentially with $10.6 million reported in the previous quarter and a decrease of 12% as compared with $14.1 million reported in the previous fiscal year's third quarter.

Net loss for the third quarter of fiscal 2003 was $58,000, essentially break even per diluted share, compared with a net income of $591,000, or $0.04 per diluted share, reported for the same quarter in the prior fiscal year.

"We had another quarter of strong sequential sales improvement", said Nick Csendes, Ansoft's President and CEO.

"Despite the challenging environment, we are confident that the strategic decisions and technological advancements we have made this year will return Ansoft to growth and profitability in the coming year and beyond".