Ansys reports strong first quarter

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Southpointe-based simulation technology company Ansys reported first-quarter net income of $51 million, or 54 cents per share, up from $45.5 million, or 48 cents per share, the first quarter of last year.

Revenues for the quarter were $197.7 million, a 7 percent increase from $187.5 million during the same period last year.

Excluding amortization of intangible assets and stock-based compensation, earnings were 71 cents per share, two cents higher than analysts projected for the quarter.

CEO Jim Cashman said the quarter shows the business is making good adjustments during uncertain economic times.

"Our Q1 results reflect a resilient business in a less than robust, and somewhat unpredictable, global economy," he said in the company's release this morning.

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