CANONSBURG, Pa. (AP) — CANONSBURG, Pa. (AP) — Ansys Inc. (ANSS) on Wednesday reported first-quarter net income of $51.9 million.
On a per-share basis, the Canonsburg, Pennsylvania-based company said it had net income of 59 cents. Earnings, adjusted for one-time gains and costs, came to $1.64 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.
The maker of engineering-simulation software posted revenue of $504.9 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $529.4 million.
Ansys shares have decreased roughly 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $321.88, a drop of almost 1% 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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