Schnitger Corporation

ANSYS’s Q1 in-line, but at low end

EarningsANSYS reported Q1 results today that were in line with expectations, but at the very low end. Total revenue was up 1% as reported and up 8% in constant currencies — again reflecting the tough climate created by shifting exchange rates. I’m off to PTC’s Liveworx so will only post the highlights right now:

In prepared remarks, the company said “The first quarter financial results performed in line with our Q1 guidance ranges. Q1 was a solid quarter on many fronts, highlighted by strong cash flows, a record deferred revenue and backlog balance of $477.5 million and an industry-leading non-GAAP operating margin of 47%. We reported consolidated non-GAAP revenue of $218.4 million, an increase of 8% in constant currency (1% in reported currency) and within the range of our expectations … Our first quarter results were driven by 11% growth in North America, 9% in Asia-Pacific and 5% in Europe, all in constant currency.

More to come, after I’ve listened to the earnings call. See you at Liveworx?

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