Resolution of an IRS tax inquiry helped to bolster fourth-quarter and fiscal-year results for Southpointe-based Ansys.
Company earnings include approximately $11 million, or 12 cents per share, in incremental tax benefit funds released because concerns surrounding 2009 and 2010 tax returns have been resolved with the IRS taking no exception to the filings.
The engineering-simulation company reported fourth-quarter revenues of $236 million, up from $220.7 million during the same period last year.
Fourth-quarter profits spiked to $75.9 million, or 80 cents per share, up from $56.1 million, or 59 cents per share, during the same period last year.
For the 2013 fiscal year, Ansys posted net income of $245.3 million, or $2.58 per share, up from $203.5 million, or $2.14 per share. Annual revenue jumped from $798 million last fiscal to $861.3 million. The company reported operating cash flows of $85 million for the fourth quarter and $333 million for the fiscal year.
Calling the quarterly and yearly results "solid" Ansys president and CEO Jim Cashman said the fourth-quarter release of Ansys 15.0 gave the company a unique advantage to capitalize on emerging trends.
The company is projecting revenues between $210.5 million and $219 million for the first quarter of 2014 and revenues in the range of $935 million to $969 million for the fiscal year.
"As companies in every industry move closer to the new mindset of system-level engineering, Ansys stands ready with leading multiphysics tools, a robust and responsive knowledge management system and a shared technology platform that delivers high-impact results," Mr. Cashman said in a news release.
Deborah M. Todd: firstname.lastname@example.org or 412-263-1652.