Ansoft Reports Record Results for Third Quarter

March 04, 2001 by Jeff Shepard

Ansoft Corp. (Pittsburgh, PA) reported record results for its third quarter ended January 31, 2001. Revenue for the third quarter of fiscal 2001 totaled $10.8 million, an increase of 28 percent, compared to $8.4 million reported in the previous fiscal year's third quarter. License revenue increased 28 percent to $8.3 million, compared to $6.5 million in the comparable period of the prior fiscal year.

Pro-forma net income for Ansoft's core business increased 214 percent, to $1.4 million, or $0.11 per diluted share. This compares with a pro-forma net income of $485, 000, or $0.04 per diluted share, reported for the same quarter of the prior fiscal year.

The company reports that it anticipates that total revenue in the fourth quarter of 2001 will show a sequential increase of at least 25 percent from the third-quarter revenues of $10.8 million. Operating margins for the fourth quarter of 2001 are expected to be above 20 percent.

Nick Csendes, president and CEO of Ansoft, commented, “We had a great quarter on all fronts, and are well on our way to another record year. We see increasing product demand building across all regions, particularly in Europe."