Ansoft Reports Second-Quarter Results
Ansoft Corp. (Pittsburgh) announced financial results for its second fiscal quarter ended October 31, 2001. Revenue for the second quarter of fiscal 2002 totaled $12.5 million, an increase of 30 percent, compared to $9.7 million reported in the previous fiscal-year's second quarter.
Pro-forma net income for the second quarter of fiscal 2002 increased 69 percent to $1.3 million, or $0.10 per diluted share, which excludes the effects of the amortization of intangibles of $1.2 million and expenses of $1.1 million for Altra Broadband. This compares with a pro-forma net income of $773,000, or $0.06 per diluted share, reported for the same quarter in the prior fiscal year, which excludes the effects of the amortization of intangibles of $616,000 and expenses of $266,000 for Altra Broadband.
"We are very pleased with our results, especially in the face of a difficult economic environment," commented Nick Csendes, president and CEO of Ansoft. "We are on track to another successful year, reflecting the fundamental strength of our technology and business model."
Ansoft's business plan forecasts annual revenues of $100.0 million in three years. Ansoft anticipates that total revenue will increase at least 25 percent this fiscal year. Operating income for the fiscal year is expected to increase over 50 percent, excluding its investment in Altra Broadband and amortization of acquired intangibles.