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Ansys profit misses consensus by 18.4% in Q1

Ansys, Inc. said its first-quarter normalized net income was 68 cents per share, compared with the S&P Capital IQ consensus estimate of 83 cents per share.

EPS increased 14.3% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $59.3 million, an increase of 10.7% from $53.6 million in the year-earlier period.

The normalized profit margin dropped to 23.4% from 23.7% in the year-earlier period.

Total revenue climbed 12.2% year over year to $253.4 million from $225.9 million, and total operating expenses climbed 12.5% from the prior-year period to $158.6 million from $140.9 million.

Reported net income rose 12.2% on an annual basis to $63.7 million, or 73 cents per share, from $56.8 million, or 63 cents per share.