SAN FRANCISCO EDA vendor Ansoft Corp. posted a fiscal first quarter net income of $2.3 million on a generally accepted accounting principles (GAAP) basis for its first quarter of fiscal 2007, up 96 percent year-to-year, the company said Thursday (Aug. 24).
Sequentially, however, Ansoft's profit fell more than 73 percent from $8.3 million in the fourth quarter of fiscal 2006.
Revenue for the quarter totaled $17.3 million, up 17 percent from $14.8 million in the year-ago quarter, Ansoft (Pittsburg) said. Sequentially, revenue was down 30 percent from $24.7 million in the fourth quarter of fiscal 2006.
GAAP net income for fist first quarter, which equates to roughly 9 cents per share, includes employee stock-based compensation expense of $600,000, Ansoft said.
"We are pleased to report strong revenue and earnings growth for the first quarter," said Nicholas Csendes, Ansoft's president and CEO. "For the next fiscal quarter, we anticipate continued revenue growth of around 10 to 15 percent."