Ansys (NASDAQ: ANSS) ended 2014 by setting another record for both fourth quarter and full year revenue. Revenue in the fourth quarter (ending December 31, 2014) was $254.4 million, up 12% from a year ago. Full year revenue was $936.0 million, up 10% from 2013.
Fourth quarter net income was down 8% from a year ago, to $69.6 million. Ansys still has one of the largest net income to revenue ratios in the engineering software industry, with net income at 27% of revenue. By comparison, Autodesk net income as a percentage of revenue in the most recent quarter was 3.2%.
Despite a rough quarter for currency fluctuations, Ansys CEO James Cashman says the company “delivered double-digit revenue growth in constant currency for the quarter.”
In November 2014, the Ansys board increased its share repurchase from the remaining 1.6 million shares (under an older authorization) to 5.0 million shares. The company also announced it expects to be more aggressive in its share repurchase activity and set a repurchase target of $200 million through March 31, 2015.
Digging further into fourth quarter revenue: