Ansys sees drop in revenue generation

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The diversified technology company saw revenue decrease to 27 million rand for the period ending 31 August 2013 from 43 million rand for the same period in 2012.

“During the period under review ending 31 August 2013, Ansys experienced a low revenue generating period which was expected due to a slow-down in projects and a boost in tender activities,” said [DATA ANS:Ansys Limited]’s chief executive Teddy Daka.

“Revenue decreased by 37 percent when compared with the interims of 31 August 2012. However, despite this reduction in revenue, gross profit margins improved by 11 per cent from 34 per cent to 45 per cent.”

Ansys, which specialises in rail, mining, industrial and defence, reported that its gross profit decreased from 14 million rand for the period ended 31 August 2012 to 12 million rand in 2013.

The company saw a three million rand loss before taxation in 2013 and a basic loss per share of 1.6 cents.

“Basic loss per share improved from 6.0 cents in 31 August 2012 to a basic loss per share of 1.6 cents in the 31 August 2013 review period. A significant part of the basic loss for 31 August 2012 was due to goodwill impairment,” Daka said.

“The current improvement was mainly due to the restructuring process highlighted below which included a cost compression exercise, clean-up of development cost assets in the prior financial year as well as the reduction in finance cost.”

Total comprehensive loss for the year stood at two million rand.  

“The company expects to continue its route to recovery in the second half of the year. Increased spending by Ansys’ major customers has resulted in an increase of bids submitted with a reasonably high probability of success,” said Daka.

“The order book is currently in excess of 26 million rand and is expected to continue improving in the last six months of the financial year.”