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CANONSBURG, Pa. (AP) — CANONSBURG, Pa. (AP) — Ansys Inc. (ANSS) on Wednesday reported first-quarter profit of $100.6 million.
On a per-share basis, the Canonsburg, Pennsylvania-based company said it had profit of $1.15. Earnings, adjusted for one-time gains and costs, came to $1.85 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.
The maker of engineering-simulation software posted revenue of $509.4 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $492.1 million.
For the current quarter ending in June, Ansys expects its per-share earnings to range from $1.35 to $1.53. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.95.
The company said it expects revenue in the range of $473 million to $498 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $671.6 million.
Ansys expects full-year earnings in the range of $8.39 to $8.91 per share, with revenue ranging from $2.24 billion to $2.32 billion.
Ansys shares have increased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $307.99, a climb of 10% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ANSS">Zacks stock report on ANSS at https://www.zacks.com/ap/ANSS