News

Ansoft Reports First-Quarter Fiscal 2005 Results

August 17, 2005 by Jeff Shepard

Ansoft Corp. (Pittsburgh, PA) announced financial results for its first quarter of fiscal 2006 ended July 31, 2005. Revenue for the first quarter totaled $14.8 million, an increase of 17 percent compared to $12.7 million reported in the previous fiscal year's first quarter. On a non- generally accepted accounting principles (GAAP) basis, net income for the first quarter was $1.4 million, or $0.11 per diluted share, representing a 392 percent increase when compared to net income of $0.3 million, or $0.02 per diluted share, in the previous fiscal year's first quarter.

On a GAAP basis, net income for the first quarter was $1.2 million, or $0.09 per diluted share, compared to GAAP net income of $30,000, or $0.00 per diluted share, in the previous fiscal year's first quarter. Pro-forma results represent non-GAAP financial measures and exclude the impact of amortization of intangible assets.

"We had an excellent first quarter with strong growth in revenues and earnings," said Ansoft President and CEO Nicholas Csendes. "For the balance of the fiscal year, we expect continued revenue growth of around 10 percent to 15 percent with earnings increasing around 25 percent over the last fiscal year."