Archive notice: This article was originally published on April 3, 2008. Links and embedded videos are preserved as part of the historical record.
Autodesk reports record revenue of 599 million US dollars at the end of its fourth fiscal quarter. This represents an increase of 20 percent compared with the prior-year quarter. Net income in the fourth quarter amounted to 96 million US dollars, or 40 cents per share, on a GAAP (Generally Accepted Accounting Principles) basis, and 124 million US dollars, or 52 cents per share, on a non-GAAP basis. In the fourth quarter of the previous year, 96 million US dollars, or 40 cents per share, was also earned on a GAAP basis. Revenue on a non-GAAP basis was then 11 million US dollars lower, at 113 million US dollars, or 46 cents per share.
“Autodesk has once again crowned a record year with its current quarterly figures,” commented Carl Bass, president and CEO of Autodesk, on the figures. “The result is further proof of the strength and stability of our business model. Thanks to the geographic balance and the broad, varied customer segments and industries, individual markets can be cushioned well. We therefore also look ahead to the coming fiscal year with optimism.”
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Autodesk’s fourth-quarter results are based primarily on sharply increased revenue in countries outside the USA. Revenue there was driven both by new licences and by many customers switching from 2D to 3D solutions. In contrast, revenue in North and South America came in worse than expected.
Compared with the fourth quarter of fiscal year 2007, revenue in EMEA (Europe, Middle East, Africa) increased by 38 percent to 262 million US dollars. In the Asia-Pacific region, Autodesk’s revenue grew in the same period by
24 percent to 131 million US dollars. A significant revenue increase of 52 percent was achieved particularly in the emerging markets of the Asia-Pacific region, EMEA and Latin America. In North and South America, by contrast, revenue rose by only 2 percent compared with the prior-year quarter.
Total revenue from the model-based 3D products Inventor, Revit, Civil 3D and NavisWorks grew by 21 percent compared with the corresponding quarter in 2007 to
146 million US dollars. In total, Autodesk shipped around 21,000 Revit and NavisWorks licences, 17,000 Inventor licences and more than 7,500 Civil 3D licences. Revenue from new licences rose by 30 percent overall.
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Record revenue totalling 2.172 billion US dollars was generated in fiscal year 2008 as a whole. That is 18 percent more than in fiscal year 2007. Net income in fiscal year 2008 was 356 million US dollars, or 1.47 US dollars per share, on a GAAP basis, and 456 million US dollars, or 1.88 US dollars per share, on a non-GAAP basis. Net revenue in fiscal year 2007 was 290 million US dollars, or 1.19 US dollars per share, on a GAAP basis, and 375 million US dollars, or 1.53 US dollars, on a non-GAAP basis.
Autodesk expects net revenue of between 575 million and 585 million US dollars for the first quarter of fiscal year 2009. However, the company has revised its earnings-per-share estimates downwards. Expected GAAP earnings per share range from 35 to 37 cents. On a non-GAAP basis, expectations range from 46 to 48 cents. This excludes 8 cents associated with share-based compensation expenses and 3 cents for amortisation of acquired intangible assets.
For the second quarter, Autodesk forecasts net revenue of around 590 million US dollars. Expected GAAP earnings per share are around 40 cents. On a non-GAAP basis, expectations are 50 cents. This excludes 6 cents associated with share-based compensation expenses and 4 cents for amortisation of acquired intangible assets.
For the full fiscal year, Autodesk expects revenue of between 2.425 and 2.475 billion US dollars. However, earnings per share may be lower than initially assumed. Expected GAAP earnings per share range from 1.75 to 1.85 US dollars. On a non-GAAP basis, expected earnings per share are between 2.15 and 2.25 US dollars. This excludes 28 cents associated with share-based compensation expenses and 12 cents for amortisation of acquired intangible assets.
Further Links:
- Autodesk
