Ansys posts higher quarterly profit; revises outlook downward
Ansys Inc.'s net income increased 12 percent in the January-March quarter on higher revenue, the Cecil-based software maker said.
Ansys said it expects net income of $2.24 to $2.36 a share for 2013. In February, the company predicted 2013 earnings of $2.25 to $2.41 a share.
Net income in the first quarter was $51.0 million, or 54 cents a share, compared with $45.5 million, or 48 cents a share, in the first quarter 2012.
Revenue was $197.7 million in the quarter, compared with $185.3 million the previous year.
Ansys' earnings beat analyst expectations, but revenue was lower than predicted.
Investors pushed the company's shares down $6.07 to $73.93 on the Nasdaq Stock Market.
Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or firstname.lastname@example.org.
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