ANSS Beats; Cuts ‘09 Outlook – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/17760/ANSS+Beats%3B+Cuts+%2709+Outlook+-+Zacks+Tale+of+the+TapePosted on Thursday, February 26th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Ansys Inc.’s (ANSS) fourth-quarter earnings topped the consensus, but the engineering simulation software manufacturer cut its outlook for 2009.
Shares were down to a 52-week low today.
The company’s profit for the fourth quarter was 50 cents a share, excluding items. Analysts had projected a profit of 42 cents. Revenue jumped by about 29% to $143.3 million.
Ansys now forecasts earnings of $1.54 to $1.85 a share, excluding items, this year. Earlier in November, the company expected earnings between $1.84 and $1.90 a share for 2009. Analysts expect the company to earn a profit of $1.75.
The company is a Zacks #3 Rank (“Hold”).
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