Ansys reports slightly higher quarterly profit, but continuing challenges
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Southpointe-based simulation technology company Ansys announced third-quarter profit of $51.6 million, or 54 cents per share, up from $45.5 million, or 48 cents per share, in the same period in 2011.
The company posted revenues of $196.9 million, up from $172.9 million in the same quarter in 2011.
Ansys is projecting revenues in the range of $211.3 million, or 49 cents per share and $218.3 million, or 55 cents per share, for the quarter ending December 31.
Ansys chief executive officer Jim Cashman said in a press release that the company exceeded its own expectations for earnings, but uncertainty in the market could affect future results.
In the press release, he said the company is "facing a challenging and uncertain environment which has lead to a noticeable lengthening of procurement cycles. In spite of these realities our business model provided strong earnings, which exceeded the guidance range and revenues in the mid-range of our guidance. Customer interest remains strong, but we expect these macro-economic challenges and longer sales cycles to continue through the remainder of the year and into the next."
First Published November 1, 2012 2:10 pm