-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, StGCaQprbqjkirro4hmyy58TUDPiyQE+2ch8wJ3Pw3DOjZ6MdivEUl8qRJA81Nd9 jzgUiVFe7yGQvQqVZt4d3A== 0000950152-04-004337.txt : 20040527 0000950152-04-004337.hdr.sgml : 20040527 20040527164538 ACCESSION NUMBER: 0000950152-04-004337 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040527 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ANSOFT CORP CENTRAL INDEX KEY: 0000849433 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 721001901 STATE OF INCORPORATION: PA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27874 FILM NUMBER: 04835551 BUSINESS ADDRESS: STREET 1: FOUR STATION SQUARE STREET 2: STE 200 CITY: PITTSBURGH STATE: PA ZIP: 15219 BUSINESS PHONE: 4122613200 MAIL ADDRESS: STREET 1: 4 STATION SQUARE STREET 2: STE 200 CITY: PITTSBURGH STATE: PA ZIP: 15219 8-K 1 j0783201e8vk.txt ANSOFT CORPORATION SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 27, 2004 Ansoft Corporation (Exact name of registrant as specified in its charter) Delaware 0-27874 72-1001909 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification Number) 225 West Station Square, Suite 200, Pittsburgh, PA 15219 (Address of principal executive offices) (ZIP Code) Registrant's telephone number, including area code: (412) 261-3200 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibit Number Description 99.1 Press Release dated May 27, 2004 ITEM 12. DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION On May 27, 2004, Ansoft Corporation issued a press release announcing its financial results for the fiscal year ended April 30, 2004. A copy of the press release is furnished as Exhibit 99.1 to this report. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ANSOFT CORPORATION Dated: May 27, 2004 By: /s/ Nicholas Csendes ----------------------------------- Nicholas Csendes President 3 Exhibit Index Exhibit No. Description Reference 99.1 Press Release dated May 27, 2004 Filed herewith 4 EX-99.1 2 j0783201exv99w1.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 ANSOFT CORPORATION FOURTH QUARTER RESULTS - 18% INCREASE IN REVENUE Pittsburgh, Pennsylvania - May 27, 2004 - Ansoft Corporation (NASDAQ: ANST) today announced financial results for its fourth quarter and fiscal year ended April 30, 2004. Revenue for the fourth quarter totaled $17.8 million, an increase of 18% compared to $15.1 million reported in the previous fiscal year's fourth quarter. Net income for the fourth quarter was $2.8 million, or $0.24 per share, as compared to net income of $2.5 million, or $0.21 per share in the previous fiscal year's fourth quarter. Revenue for the fiscal year totaled $54.7 million, compared to $47.3 million reported in the previous fiscal year. Net income for the fiscal year was $2.6 million as compared to a net loss of $3.1 million in the previous fiscal year. "Our revenue growth for the year was 15%," commented Nicholas Csendes, Ansoft's President and CEO. "For the next fiscal year, we expect to see revenue growth of 12% - 15% for the full year as well as increasing profitability." Ansoft is a leading developer of high-performance electronic design automation (EDA) software. Engineers use Ansoft software to design state-of-the-art electronic products, such as cellular phones, Internet-access devices, broadband networking components and systems, integrated circuits (ICs), printed circuit boards (PCBs), automotive electronic systems and power electronics. Ansoft markets its products worldwide through its own direct sales force and has comprehensive customer-support and training offices throughout North America, Asia and Europe. This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward looking statements involve risks and uncertainties about the Company's business that are detailed from time to time in the Company's SEC reports, including the reports on Form 10-K for the year ended April 30, 2003. ANSOFT CORPORATION & SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts)
Three months ended April 30, Fiscal year ended April 30, 2004 2003 2004 2003 -------- -------- -------- -------- Revenue License $ 12,043 $ 9,647 $ 32,301 $ 27,540 Service and other 5,718 5,465 22,352 19,779 -------- -------- -------- -------- Total revenue 17,761 15,112 54,653 47,319 Costs of revenue License 225 165 702 683 Service and other 349 275 1,155 970 -------- -------- -------- -------- Total cost of revenue 574 440 1,857 1,653 -------- -------- -------- -------- Gross profit 17,187 14,672 52,796 45,666 Operating Expenses Sales and marketing 7,468 6,227 26,930 24,611 Research and development 4,289 3,809 15,690 18,588 General and administrative 1,043 1,168 4,488 4,284 Amortization 802 857 3,182 3,428 -------- -------- -------- -------- Total operating expenses 13,602 12,061 50,290 50,911 -------- -------- -------- -------- Income (loss) from operations 3,585 2,611 2,506 (5,245) Other income, net 190 296 904 1,152 -------- -------- -------- -------- Income (loss) before income taxes 3,775 2,907 3,410 (4,093) Income tax expense (benefit) 945 431 854 (970) -------- -------- -------- -------- Net income (loss) $ 2,830 $ 2,476 $ 2,556 $ (3,123) ======== ======== ======== ======== Net income (loss) per share Basic $ 0.24 $ 0.21 $ 0.22 $ (0.26) ======== ======== ======== ======== Diluted $ 0.21 $ 0.20 $ 0.19 $ (0.26) ======== ======== ======== ======== Weighted average shares used in calculation Basic 11,738 11,715 11,672 11,809 ======== ======== ======== ======== Diluted 13,504 12,488 13,248 11,809 ======== ======== ======== ========
- more - ANSOFT CORPORATION & SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands)
April 30, April 30, 2004 2003 -------- -------- Assets Current assets Cash and cash equivalents $ 15,218 $ 7,173 Accounts receivable, net 10,179 13,968 Deferred income taxes 343 310 Prepaid expenses and other assets 675 842 -------- -------- Total current assets 26,415 22,293 Equipment and furniture 3,598 3,829 Marketable securities 25,502 21,785 Other assets 383 436 Deferred income taxes 5,158 4,909 Goodwill 1,239 1,239 Intangible assets 5,341 8,663 -------- -------- Total assets $ 67,636 $ 63,154 ======== ======== Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $ 4,015 $ 2,449 Deferred revenue 11,935 10,879 -------- -------- Total current liabilities 15,950 13,328 Line of credit 10,000 10,000 -------- -------- Total liabilities 25,950 23,328 Stockholders' equity Preferred stock -- -- Common stock 129 123 Additional paid-in capital 58,562 55,522 Treasury stock (9,090) (3,954) Other accumulated comprehensive income (loss) 691 (703) Accumulated deficit (8,606) (11,162) -------- -------- Total stockholders' equity 41,686 39,826 Total liabilities and stockholders' equity $ 67,636 $ 63,154 ======== ========
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