ANSYS ( ANSS Quick Quote ANSS - Free Report) has inked an agreement with software provider SoftInWay to expand its footprint in the 2D-3D space and turbomachinery market.
specializes in developing turbomachinery designs, redesign, analysis and optimization processes.
The collaboration aims to enhance and automate the design workflow for single-stage, multi-stage and multi-module turbomachinery.
The new workflow provides eco-friendly engine designs for SoftInWay customers by enabling efficient push-button design transfer between computational fluid dynamics and finite element analysis.
The enhanced tool allows seamless and effective data transfer from the 1D-2D stage into a 3D model to run simulations. Previously, the data transfer was done manually, which is exposed to errors.
Hence, workflow automation helps create accurate designs with shorter production cycles, dramatically reducing manufacturing costs and accelerating time-to-market. Companies are now trying to automate their process as digitalization gains momentum.
The partnership supports further digitization from the initial design stage in SoftInWay's AxSTREAM platform to complete analysis using ANSYS 3D physics solvers — ANSYS CFX, ANSYS Fluent and ANSYS Mechanical.
ANSYS develops and globally markets engineering simulation software and services widely used by engineers, designers, researchers etc.
Its performance is gaining ground from higher demand and solid traction for its simulation products across verticals like high tech, semiconductor, aerospace and defense. The growing demand for the Internet of Things in the manufacturing industry and energy-efficient products further boosts performance.
ANSYS reported first-quarter 2022
earnings of $1.36 per share, which beat the Zacks Consensus Estimate by 19.3%. The bottom line increased 21.5% year over year.
Non-GAAP revenues of $428.6 million surpassed the Zacks Consensus Estimate by 5.46%. The top line increased 15% (up 18% at constant-currency or cc) from the year-ago quarter.
Shares of ANSYS have lost 28.2% in the past year compared with the
industry’s fall of 11%. Image Source: Zacks Investment Research Zacks Rank & Stocks to Consider
ANSS carries a Zacks Rank #3 (Hold).
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