Product category:
Design and Development Software
News Release from: Ansoft Europe
Edited by the Electronicstalk Editorial
Team on 16 February 2007
Ansoft makes net income of $6.3 million
in Q3
Ansoft Corporation has announced financial results for its third quarter of fiscal 2007.
Ansoft has announced financial results for its third quarter of fiscal 2007 ended 31st January 2007 All references to share and per share information, except shares authorised, mentioned here have been adjusted to reflect the two-for-one stock split effected in the form of a stock dividend that was declared on 7th March 2006 and distributed on 9th May 2006
This article was originally published on Electronicstalk on 10 Mar 2008 at 8.00am (UK)
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Revenue for the third quarter totalled $22.7 million, an increase of 16% compared to $19.7 million reported in the previous fiscal year's third quarter.
On a generally accepted accounting principles (GAAP) basis, net income for the third quarter was $6.3 million, or $0.24 per diluted share representing a 48% increase when compared to GAAP net income of $4.3 million, or $0.16 per diluted share in the previous fiscal year's third quarter.
GAAP net income for the current fiscal year's third quarter included a tax benefit of $1.1 million, or $0.04 per diluted share for the US Research and Development Tax Credit enacted by Congress retroactive to 1 January 2006 in December 2006.
GAAP net income for the third quarter includes employee stock-based compensation expense of $0.6 million, or $0.02 per diluted share.
The previous fiscal year's third quarter net income did not include employee stock-based compensation expense.
Additionally, GAAP net income for the third quarter includes acquisition related amortisation of $0.3 million, or $0.01 per diluted share.
This compares to acquisition related amortisation of $0.4 million, or $0.01 per diluted share in the previous fiscal year's third quarter.
"We had an excellent quarter with particularly strong revenue growth in our high-performance product line and in both domestic and international markets", says Nicholas Csendes, Ansoft's President and CEO.
"For the fourth quarter, we expect continued revenue growth of around 10-15%".
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