Product category:
CAD draughting software
News Release from: Autodesk
Edited by the Manufacturingtalk Editorial
Team on 29 May 2006
Record revenues of $436 million
Autodesk has announced financial results for its first fiscal quarter ended April 30, 2006.
Autodesk has announced financial results for its first fiscal quarter ended April 30, 2006 For the first quarter, Autodesk reported record net revenues of $436 million, a 23 percent increase over $355 million reported in the first quarter of the prior year
This article was originally published on Manufacturingtalk on 14 Jul 2008 at 8.00am (UK)
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On a constant currency basis, revenues increased 28 percent.
First quarter net income was $49 million, or $0.20 per diluted share on a GAAP basis and $80 million, or $0.32 per diluted share on a non-GAAP basis.
Current quarter non-GAAP net income excludes stock based compensation expenses, litigation expenses and amortization of purchased intangibles.
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Net income in the first quarter of the prior year was $76 million, or $0.31 per diluted share on a GAAP basis, and $75 million, or $0.30 per diluted share on a non-GAAP basis.
"Autodesk had an excellent quarter," said Carl Bass, Autodesk president and CEO.
"We drove strong growth across our portfolio of businesses including record results on a number of our most important financial metrics".
"We continued the rapid integration of Alias into Autodesk, and in March, we launched our 2007 family of products, including more than 25 new releases." Autodesk's performance was driven by strong growth in revenue from new seats, subscriptions, and emerging economies, as well as increasing penetration of its 3D products.
Revenue from new seats, including the company's 2007 family of products, increased by 19 percent compared to the first quarter of last year.
Revenue from new seats was driven by strong growth in 3D and vertical products.
Revenue from new seats of 3D increased 50 percent over last year.
Revenue from new seats of Autodesk Building Systems, the AutoCAD-based solution for mechanical, electrical and plumbing engineers, increased more than 130% over the first quarter of last year.
Revenue from new seats and emerging businesses continues to represent approximately two-thirds of total revenues.
Combined subscription and upgrade revenue increased 36 percent over last year to $162 million.
Record subscription attach and renewal rates drove a 47 percent increase in subscription revenue compared to the first quarter of last year to $87 million.
Deferred subscription revenue increased $39 million sequentially, the highest quarterly increase ever.
Upgrade revenue increased 25 percent over last year to $75 million.
Combined revenues from subscription and upgrades continue to represent approximately one-third of total revenues.
The company's 3D products, Inventor, Revit and Civil 3D, continue to increase their market penetration.
In the first quarter of fiscal 2007, combined revenues from the company's 3D productsincreased 53 percent over the prior year.
The Revit family of products had a particularly strongquarter shipping more than 13,100 commercial seats and increasing revenue 145 percent over last year.
In March, the company completed the Revit family of building information modeling solutions by launching Revit Systems which introduces building information modeling for mechanical, electrical and plumbing engineers and designers.
Civil 3D also had a very strong quarter, increasing revenue 123 percent over the first quarter of last year.
In the first quarter of fiscal 2007, total 3D revenue represented 20% of total revenues.
With significant development of infrastructure underway, and rapidly developing consumer classes, emerging economies continue to be an area of robust growth for Autodesk.
Revenue from the emerging economies in Asia Pacific, Eastern Europe, Latin America and the Middle East increased 40 percent over last year and represented 12 percent of total revenue in the first quarter.
"Our business strategy and strong product position enable us to benefit from important business trends including the increasingly globalized nature of business, the rise of emerging economies, the massive worldwide development and repair of infrastructure, and the increased desire for sustainable or "green" design," said Bass. Request free introductory details about products from Autodesk ...
"Our business is sound, and we are increasing our business outlook to reflect the current environment.".
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