CANONSBURG, Pennsylvania – Ansys Engineering Simulator on Wednesday reported a first-quarter profit of $ 71 million.

Based on the Canonsberg-based stock, the Pennsylvania company said it had a net profit of 81 cents. Earnings adjusted for one-time earnings and expenses reached $ 1.36 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was earnings of $ 1.14 per share.

The maker of engineering simulation software reported revenue of $ 425.1 million for the period. Its adjusted revenue was $ 428.6 million, which also exceeds Street estimates. Four analysts polled by Zacks expect $ 406.4 million.

For the current quarter, ending in July, Ansys expects its earnings per share to range from $ 1.46 to $ 1.64. Analysts polled by Zacks forecast adjusted earnings per share of $ 1.83.

The company said it expects revenue in the range of $ 450 million to $ 475 million for the second quarter of the fiscal year. Analysts polled by Zacks expected revenue of $ 485.5 million.

Ansys expects earnings for the full year ranging from $ 7.53 to $ 7.94 per share, with revenue ranging from $ 2.01 billion to $ 2.07 billion.

Shares of Ansys have fallen 28% since the beginning of the year. In the last minutes of trading on Wednesday, the shares reached $ 288.71, down 18% in the last 12 months.

https://www.defensenews.com/smr/force-of-the-future/2022/05/06/first-quarter-earnings-for-simulation-firm-ansys-beat-expectations/

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