Growth continues at Ansoft

Ansoft Corporation has announced financial results for its second quarter of fiscal 2006 ended 31st October 2005.

Ansoft Corporation has announced financial results for its second quarter of fiscal 2006 ended 31st October 2005.

Revenue for the second quarter totalled $18 million, an increase of 13% compared with $15.9 million reported in the previous fiscal year's second quarter.

On a non-GAAP basis, net income for the second quarter was $4.3 million, or $0.34 per diluted share, representing a 103% increase when compared with net income of $2.1 million, or $0.16 per diluted share in the previous fiscal year's second quarter.

On a generally accepted accounting principles (GAAP) basis, net income for the second quarter was $4.1 million, or $0.32 per diluted share, compared with GAAP net income of $1.9 million, or $0.14 per diluted share in the previous fiscal year's second quarter.

During the quarter, the company elected to claim a federal tax credit and refund related to foreign taxes previously paid.

As a result, second quarter net income includes a tax benefit of $0.5 million for an expected refund of prior years' federal tax payments.

The company expects to use excess foreign tax credits claimed during the current fiscal year.

This would favourably impact the full year effective rate by approximately 7%.

"We are pleased to report that our earnings for the second quarter have more than doubled on continued strong revenue growth", said Nicholas Csendes, Ansoft's President and CEO.

"For the balance of the fiscal year, we expect continued revenue growth of around 10-15% with earnings increasing around 25% over the last fiscal year".

Back to top