Ansys Inc ANSS
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/28/2013

Operator: Good morning, and welcome to the ANSYS Q4 and Fiscal Year End Conference Call. All participants will be in listen-only mode. Please note this event is being recorded. I would now like to turn the conference over to Mr. Jim Cashman, President and CEO. Please go ahead.

James E. Cashman III - President and CEO: Thanks, Ashley. Good morning, and again, thank you, everyone, for joining us to discuss ANSYS' Fourth Quarter and Fiscal Year 2012 Financial Results. For you first-time attendees, and consistent with the protocol that we've used over the last couple of years, all of the general information and key topics relative to the quarter and the full year business results, as well as our future outlook are included in this morning's earnings release and in the prepared remarks that we posted on the home page of our Investor Relations website this morning. But before we get started, I'd like to introduce Maria Shields, our CFO, for our Safe Harbor statement. So Maria?

Maria T. Shields - VP and CFO: Thanks, Jim. Good morning, everybody. I'd like to remind you that in addition to any risks and uncertainties that we highlight during the course of this call, important factors that may affect our future results are discussed at length in our public filings with the SEC, all of which are also available via our website.

Additionally, the Company's reported results should not be considered an indication of future performance as there are risks and uncertainties that could impact our business in the future. These statements are based upon our view of the world and our business as of today, and ANSYS undertakes no obligation to update any such information unless we do so in a public forum.

Consistent with our standard practice, during the course of this call and in the prepared remarks, we will be making reference to non-GAAP financial measures. A discussion of the various items that are excluded and a full reconciliation of GAAP to comparable non-GAAP financial measures are included in this morning's earnings release materials and the related Form 8-K.

And on a last note I would like to remind everyone that the ANSYS team will be hosting an Investor Day here in Pittsburg on March 14th at the Renaissance Hotel. We're very excited about the event and if you're interested to learn more about it. Please see our website at, for more details about the meeting and the webcast.

So, Jim, I'll turn the call back over to you.

James E. Cashman III - President and CEO: Okay. Thanks, Maria. Before we get into the Q&A, I'd like to briefly highlight a few important points about our Q4 and 2012 results and the assumptions that we use to build our Q1 and 2013 outlook.

So I'll begin by saying that Q4 and the full year were milestone period for ANSYS in many respects. We're really pleased that we're able to finish out the year with a strong close, this is evidenced by our record Q4 financial performance, it exceeded the upper end of guidance for both non-GAAP revenue and earnings.

In constant currency, we delivered 12% revenue growth in Q4 and an annual revenue growth of 17%. We also reported double-digit growth within most of our major geographic regions for both the fourth quarter and the full year and in both major categories of revenue license and maintenance for the full year.

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