Ansys Q1 Earnings Advance, Meet Street; Acquires SpaceClaim

(RTTNews) - Ansys, Inc.(ANSS) Thursday reported a rise in net earnings for the first quarter, mainly due to a growth in revenues. While earnings were in line with analysts estimates, revenues fell short. Separately, the company said it has acquired 3-D modeling software company SpaceClaim Corp.

For the first quarter, net earnings rose to $56.54 million or $0.60 per share from $51.02 million or $0.54 per share a year earlier.

Adjusted earnings were reported at $71.92 million or $0.76 per share, compared with $67.75 million or $0.71 per share a year earlier.

On average, ten analysts polled by Thomson-Reuters estimated the company's earnings to be $0.76 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the 3-month period increased to $215.3 million from $197.7 million in the same period last year. Analysts expected revenues of $217.25 million.

Separately, the company said it has acquired 3-D modeling software company SpaceClaim Corp. for $85 million cash, plus retention and an adjustment for working capital. SpaceClaim's technology can help Ansys provide simulation tools to designs and systems engineers.

Ansys expects the acquisition be neutral or slightly accretive to adjusted earnings in 2014, and accretive in 2015 and beyond.

For the second quarter the company expects adjusted earnings of $0.77 to $0.81 per share on revenues of $224 million to $232.5 million.

For the full year, the company expects adjusted earnings of $3.23 to $3.33 per share on revenues of $932.5 million to $958.5 million.

Analysts expect earnings of $0.83 per share on revenues of $234.75 million for the second quarter, and $3.35 per share on revenues of $951.13 million for 2014.