CANONSBURG, Pa. (AP) — CANONSBURG, Pa. (AP) — Ansys Inc. (ANSS) on Wednesday reported first-quarter profit of $34.8 million.
On a per-share basis, the Canonsburg, Pennsylvania-based company said it had net income of 40 cents. Earnings, adjusted for one-time gains and costs, were $1.39 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.
The maker of engineering-simulation software posted revenue of $466.6 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $554.9 million.
Ansys shares have fallen 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $321.48, a climb of slightly more than 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANSS at https://www.zacks.com/ap/ANSS
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