Pittsburgh, PA--August 28, 1996--Ansoft Corp. (Pittsburgh, PA) announced financial results for its first quarter of fiscal 1997 ended July 31, 1996.
Revenue for the first quarter of fiscal 1997 totaled $2.32 million, an increase of 24 percent from the $1.87 million reported in the previous year's fiscal first quarter. Excluding a one-time write-off of acquired in-process research and development, net income for the first quarter of fiscal 1997 would have been $317,000, or $0.04 per share, an increase of 248 percent from the $91,000, or $0.01 per share reported for the same period in fiscal 1996. The actual net loss of $2.7 million, or $0.35 per share for this quarter includes a one-time write-off of in-process research and development of $3.1 million related to the acquisition of the Electronics Business Unit (EBU) from The MacNeal Schwendler Corp. on July 24, 1996.
4 Station Square Suite 660
Pittsburgh, PA 15219
Fax: (412) 471-9427
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