Product category: Design and Development Software
News Release from: Ansoft Europe
Edited by the Electronicstalk Editorial Team on 21 February 2002
Ansoft "on track
to another successful year"
Ansoft has announced financial results for its third fiscal quarter ended 31st January 2002
Revenue for the third quarter of fiscal 2002 totalled $14.1 million, an increase of 26% compared with $11.1 million reported in the previous fiscal year's third quarter. Pro forma net income for the third quarter of fiscal 2002 increased 42% to $2.1 million, or $0.15 per diluted share, which excludes the effects of the amortisation of intangibles of $1.2 million and expenses of $1.1 million for Altra Broadband.
This article was originally published on Electronicstalk on 21 February 2002 at 8.00am (UK)
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This compares with a pro forma net income of $1.5 million, or $0.12 per diluted share, reported for the same quarter in the prior fiscal year, which excludes the effects of the amortisation of intangibles of $599,000 and expenses of $481,000 for Altra Broadband.
Net income for the third quarter of fiscal 2002 was $591,000 as compared with $707,000 in fiscal 2001.
"We are very pleased with our results.
We continue to post strong revenue growth and profits in the face of a difficult economic environment", said Nick Csendes, President and CEO of Ansoft.
"We are on track to another successful year, reflecting the fundamental strength of our technology and business model".
Ansoft's business plan forecasts annual revenues of $100 million in three years.
Ansoft expects that total revenue will increase at least 25% this fiscal year.
Operating income for the fiscal year is expected to increase over 50%, excluding its investment in Altra Broadband and amortisation of acquired intangibles.
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