Product category:
Infrastructure and CAD Software
News Release from: Autodesk
Edited by the Buildingtalk Editorial
Team on 31 May 2004
Autodesk First Quarter Revenues Increase
41%
For the first quarter, Autodesk reported net revenues of $298 million, a 41 percent increase over $211 million reported in the first quarter of the prior year.
Autodesk, the world's leading design software and digital content company, has announced financial results for its first fiscal quarter ended April 30, 2004 For the first quarter, Autodesk reported net revenues of $298 million, a 41 percent increase over $211 million reported in the first quarter of the prior year
This article was originally published on Buildingtalk on 25 Jun 2008 at 8.00am (UK)
Related stories
UK largest sustainable development select Autodesk
Persimmon, George Wimpey and Barratt Homes choose Autodesk Buzzsaw to aid communication on joint development
Revit helps create plans of 108 year-old Basilica.
The Revit software for building information modelling is being used to create reverse-engineered design plans of the 108 year-old Roman Catholic Basilica of St Stephen, in the heart of East Jerusalem
First quarter net income was $43 million, or $0.36 per diluted share on a GAAP basis, and $49 million, or $0.41 per diluted share on a pro-forma basis.
Pro-forma net income excludes an $8 million restructuring charge.
Net income in the first quarter of the prior year was $8 million, or $0.07 per diluted share on a GAAP basis.
Further reading
Planning for sustainability
Pete Baxter of Autodesk discusses how BIM can help the planning process .
71% of housebuilders say IT is key to the industry
Independent survey commissioned by Autodesk reveals IT is key to the success of the Industry.
Right path to collaboration with Autodesk Buzzsaw
Multi-discipline construction company Eric Wright Construction select Autodesk Buzzsaw collaborative project management solution to help manage its portfolio of projects.
There were no pro-forma adjustments in the prior year.
"I am pleased with the company's outstanding performance during the quarter," said Carol Bartz, Autodesk chairman and CEO.
"Strong new releases of our AutoCAD 2005 family of products, led to outstanding results in all markets and divisions.
Customers are responding enthusiastically to the improved performance and increased functionality in the new versions." Autodesk's strong performance was driven by significant increases in revenue from new seats and upgrades, the continuing success of the company's subscription program, and the company's commitment to improving profitability.
During the quarter, the company launched its AutoCAD 2005 family of products, demonstrating the company's continued commitment to delivering lifecycle management solutions to customers.
AutoCAD 2005 improves productivity and collaboration by providing the functionality needed for efficient workflow processes and allowing users to create, manage and share complex data and design information more easily.
Subscription revenues, called Maintenance on the financial statements, increased 56 percent over the prior year, to $37 million, as customers continue to recognize the value of the subscription program and the quick return on investment of Autodesk products.
During the quarter, Autodesk continued to deliver on its commitment to improve profitability.
Operating margins improved 15 percentage points over the first quarter of fiscal 2004, to 18 percent on a GAAP basis.
Pro-forma operating margins, which exclude the $8 million restructuring charge, were 21 percent in the quarter.
These results demonstrate the significant leverage in the company's operating margin.
"We got off to a great start in Fiscal Year 2005," said Bartz.
"We introduced the AutoCAD 2005 family of products, one of our strongest product offerings ever, just two months after the retirement of AutoCAD 2000.
In addition to the successful launch of AutoCAD 2005 family of products, we plan to release significant new versions of all of our other major products this year, including Autodesk Inventor Series, Autodesk Inventor Professional and 3ds max.
Our refreshed product line and our focus on increasing profitability combined with the improved global economy, position the company for strong future growth." Business Outlook - The following statements are forward looking statements which are based on current expectations and which involve risks and uncertainties some of which are set forth below.
Q2 Fiscal 2005 Net revenues for the second quarter of fiscal 2005 are expected to be in the range of $260 million to $270 million.
Earnings per diluted share for the second quarter of fiscal year 2005 are expected to be in the range of $0.22 to $0.26 on a GAAP basis and $0.26 to $0.30 on a pro-forma basis.
Full Year Fiscal 2005 For 2005, annual revenue is expected to be in the range of $1.1 billion to $1.125 billion.
Earnings per diluted share for the full year are expected to be in the range of $1.29 to $1.36 on a GAAP basis and $1.44 to $1.51 on a pro-forma basis.
Fourth quarter fiscal 2005 operating margins are expected to be in the high-20 percent range.
A reconciliation of the above non-GAAP net income and EPS amounts to the corresponding GAAP net income and EPS amounts is provided at the end of this press release.
Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including statements in the paragraphs under "Business Outlook," above and other statements regarding our anticipated product releases and performance.
Factors that could cause actual results to differ materially include the following: general market and business conditions, failure of key new applications to achieve anticipated levels of customer acceptance, failure to achieve sufficient sell-through in our channels for new or existing products, pricing pressure, failure to achieve anticipated cost reductions, changes in foreign currency rates, delays in the release of new products and services, failure to achieve continued success in technology advancements, changes in accounting rules, particularly related to stock option expensing, failure to successfully integrate new or acquired businesses, financial and business condition of our reseller and distribution channels, renegotiation or termination of royalty or intellectual property arrangements and failure to grow lifecycle management or collaboration products.
Further information on potential factors that could affect the financial results of Autodesk are included in the company's report on Form 10-K, for the year ended January 31, 2004, which is on file with the Securities and Exchange Commission. Request free introductory details about products from Autodesk ...
• Autodesk: contact details and other news
• Email this article to a colleague
• Register for the free Buildingtalk email newsletter
• Buildingtalk Home Page
Search the Pro-Talk network of sites
