ANSYS, Inc. (NASDAQ: ANSS) in the fourth quarter of FY 17 has posted better than expected results. The company has in the full year 2017 crossed the $1 billion revenue barrier and the company grew the annual revenue by double-digits for the first time in five years. ANSS stock is added to the S&P 500 Index. The company have made continued progress with the go-to-market initiatives, as illustrated by the 21% annual growth in the deferred revenue and backlog, ending the year at a record $770 million
ANSS in the fourth quarter of FY 17 has reported the adjusted earnings per share of $1.07, beating the analysts’ estimates for the adjusted earnings per share of $1.04. The company had reported the adjusted revenue growth of 9 percent to $302.3 million in the fourth quarter of FY 17, beating the analysts’ estimates for revenue of $290.5 million. The Recurring revenue, that comprises lease license and annual maintenance revenue, has totaled 71% of revenue for the fourth quarter on a non-GAAP basis.
Additionally, ANSS has replenished its authorized share repurchase program to an aggregate total of five million shares, which will allow ANSYS to continue to offset dilution and reduce shares outstanding. In the fourth quarter, the company has repurchased 0.8 million shares at an average price of $150.33 In FY 2017, ANSS has repurchased 2.8 million shares of its common stock at an average price of $122.20. In FY 2016, ANSS had repurchased 3.7 million shares of its common stock at an average price of $90.90.
In addition, In January 2018, the company had released ANSYS 19, that is the most feature-rich release in the company’s nearly 50-year history of innovation. ANSS is also reaching new audiences with solutions like Discovery Live, which is available for trial and sale through a new e-commerce portal that premiered this month.
For the first quarter of FY 18, ANSS expects earnings per share to be in the range of 90 cents to $1.05. The company expects revenue to be in the range of $261 million to $281 million for the fiscal first quarter.
ANSS expects full-year 2018 earnings to be in the range of $4.41 to $5.04 per share, with revenue expected to be in the range from $1.15 billion to $1.23 billion.