ANSYS ISSUES LETTER TO INVESTORS
PITTSBURGH, April 02, 2020 (GLOBE NEWSWIRE) -- Ansys (NASDAQ: ANSS) announced today that it issued an open letter to its investors amid the coronavirus disease 2019 (“COVID-19”) pandemic. The full text of the letter follows:
April 2, 2020
To Our Valued Investors:
It goes without saying that these are extraordinary times. Just as our hearts go out to everyone affected by COVID-19, we are enormously grateful to our first responders and medical professionals who are risking their lives every day to keep us safe. They are the true heroes of this crisis, and their intrepid actions are an inspiration to us all.
As always, our first responsibility during these uncertain times is the health and safety of our employees and their families, our partners and our broad Ansys community around the world. At the onset of the crisis, Ansys took action to enable our employees to work from home as we closed our offices first in China, followed by other locations around the world. As I write to you now at the end of March, the improving situation in China has led us to reopen all our offices there.
In addition to its terrible impact on human life, COVID-19 has created a tidal wave of disruption affecting nearly every business in every country around the world. Smaller, less insulated companies are at risk or have already gone out of business. We are all moved by the stories of our neighbors and family members who have lost their jobs as a result of this pandemic. At Ansys though, we are continuing to pay all our salaried and hourly workers. And based on today’s circumstances, we are not planning any job actions.
Over the course of the last 50 years, Ansys has built a resilient business that helps our customers power their mission-critical research and development engines. And as even the most basic products become more complicated, engineering simulation becomes an imperative during the development process.
R&D is critical for many companies. Our experience is that, unlike manufacturing and operations, R&D is the least impacted by budget cuts and usually the first restored, primarily because it drives future growth and market success. This was well illustrated in the financial crisis - a 2009 study by McKinsey and Company, “Upgrading R&D in a downturn,” showed that companies that heavily invest during an economic slowdown increase their chances of emerging from the downturn stronger and more competitive.