Ansoft Postpones Earnings Release and Conference Call.Business Editors & High Tech Writers PITTSBURGH--(BUSINESS WIRE)--Aug. 14, 2001 Ansoft Corporation (Nasdaq:ANST ANST Association of Neuropsychology Students in Training ANST After Negative Skin Test ) has postponed its first quarter earnings release and conference call. The earnings release for the quarter ended July 31, 2001 and conference call were originally scheduled for August 14, 2001. Ansoft has acquired a number of companies in recent years, including most recently the purchase of Agilent's HFSS HFSS High Frequency Structure Simulator HFSS High Fat, Salt and Sugar (food content) HFSS High-Frequency Sounder System HFSS High Frequency Simulator System HFSS High Frequency Sensor Subsystem product line. In July 2001, the FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). issued SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System No. 141, Business Combinations, and SFAS No. 142, Goodwill and Other Intangible Assets. These standards, among other things, require that goodwill no longer be amortized, but instead be subject to impairment testing at least annually. SFAS No. 142 must be adopted in fiscal years beginning after December 15, 2001 as of the beginning of the fiscal year. Companies with fiscal years beginning after March 15, 2001 may early adopt provided they have not yet issued their first quarter financial statements. Because of the effort needed to comply with adopting SFAS Nos. 141 and 142, it is not practicable to reasonably estimate the impact of adopting these statements on the Company's consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge as of the date of this release. The Company will reschedule its earnings release and conference call to take place on or before September 14, 2001. Future Outlook Ansoft's business plan forecasts annual revenues of $100 million in three years. In addition, Ansoft also announced that it expects to report revenue in the first fiscal quarter of 2002 at least $11.0 million, somewhat higher than management previously expected. Ansoft anticipates that revenue for the current fiscal year will increase at least 25%, with operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increasing over 50%, excluding its investment in Altra Broadband and acquired amortization. Ansoft is a leading developer of high performance EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. software. Ansoft software is used by electrical engineers to design state of the art technology products, such as cellular phones, internet networking equipment, satellites, computer chips and circuit boards, electronic sensors and electric motors. Ansoft markets its products through its own direct worldwide sales force, and has comprehensive customer support offices throughout North America, Asia and Europe. This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. These forward looking statements involve risks and uncertainties about the Company's business that are detailed from time to time in the Company's SEC reports, including the reports on Form 10-K for the year ended April 30, 2001. |
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