Autodesk Reports Second Quarter Results
24/08/2013
Second Quarter Fiscal 2014
Revenue was $562 million, a decrease of 1 percent, compared to the second quarter of fiscal 2013 as reported and an increase of 2 percent on a constant currency basis.
GAAP operating margin was 15 percent, compared to 16 percent in the second quarter of fiscal 2013.
Non-GAAP operating margin decreased by approximately 100 basis points to 24 percent, compared with 25 percent in the second quarter of fiscal 2013. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables.
GAAP diluted earnings per share were $0.27, compared to $0.28 in the second quarter of fiscal 2013.
Non-GAAP diluted earnings per share were $0.45, compared to $0.48 in the second quarter of fiscal 2013.
Deferred revenue increased 7 percent to $806 million, compared to the second quarter of fiscal 2013.
Cash flow from operating activities was $65 million, compared to $107 million in the second quarter of fiscal 2013.
Our second quarter was marked by strength in our Architecture, Engineering and Construction (AEC) business segment and continued growth in suites, said Carl Bass, Autodesk president and CEO. Growth in these vital areas was offset by mixed contributions from other parts of the business. On the product side, we strengthened and expanded our leading product portfolio with new desktop, cloud and mobile offerings.
Second Quarter Operational Overview
EMEA revenue decreased 4 percent to $202 million compared to the second quarter last year as reported and was flat on a constant currency basis. Revenue in the Americas increased 2 percent to $202 million compared to the second quarter last year as reported. Revenue in Asia Pacific decreased 1 percent to $158 million compared to the second quarter last year as reported and increased 4 percent on a constant currency basis. Revenue from emerging economies decreased 2 percent to $86 million compared to the second quarter last year as reported and 1 percent on a constant currency basis. Revenue from emerging economies represented 15 percent of total revenue in the second quarter.
Revenue from the Platform Solutions and Emerging Business segment decreased 9 percent to $197 million compared to the second quarter last year. Revenue from the AEC business segment increased 9 percent to $177 million compared to the second quarter last year. Revenue from the Manufacturing business segment increased 2 percent to $144 million compared to the second quarter last year. Revenue from the Media and Entertainment business segment decreased 11 percent to $43 million compared to the second quarter last year.
Revenue from Flagship products decreased 11 percent to $289 million compared to the second quarter last year. Revenue from Suites increased 18 percent to $193 million compared to the second quarter last year. Revenue from New and Adjacent products was $80 million, and decreased 1 percent compared to the second quarter last year.
The challenging dynamics within some of the end-markets that we serve has led us to adjust our growth assumptions, said Mark Hawkins, Autodesk executive vice president and CFO. While the near-term revenue target is lower, we remain diligent about managing our spend while making essential investments to drive growth.
With the recent introduction of more flexible license and service offerings that have ratable revenue streams, such as cloud-based and rental license offerings, Autodesks business model is evolving, continued Hawkins. We are currently refining our plans around the pace and time frame for this business model transition. We look forward to providing more detail at our Investor Day event scheduled for October 2nd. As we evolve our business model, we remain committed to long-term operating margin expansion.
Business Outlook
The following statements are forward-looking statements that are based on current expectations and assumptions, and involve risks and uncertainties some of which are set forth below. Autodesks business outlook for the third quarter assumes, among other things, a continuation of the current economic environment and foreign exchange currency rate environment, and interest expense related to Autodesks $750 million debt offering in December 2012.
Third Quarter Fiscal 2014
3Q FY14 Guidance Metrics Q3 FY14 (ending October 31, 2013)
Revenue (in millions) $540-$555
EPS GAAP $0.19-$0.23
EPS Non-GAAP $0.36-$0.40
Non-GAAP earnings per diluted share exclude $0.11 related to stock-based compensation expense and $0.06 for the amortization of acquisition related intangibles.
Third quarter fiscal 2014 outlook assumes annual effective tax rates of approximately 23 percent and approximately 25 percent for GAAP and non-GAAP results, respectively. These rates do not include one-time discrete items but do reflect the recently enacted extension of the federal R&D tax credit benefit through December 31, 2013.
Full Year Fiscal 2014
Autodesk is not providing full year fiscal 2014 guidance at this time.
Earnings Conference Call and Webcast
Autodesk will host its second quarter conference call today at 5:00 p.m. ET. The live broadcast can be accessed at http://www.autodesk.com/investors. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesks website simultaneously with this press release.
NOTE: The prepared remarks will not be read on the conference call. The conference call will include only brief remarks followed by questions and answers.
A replay of the broadcast will be available at 7:00 pm ET at http://www.autodesk.com/investors. This replay will be maintained on Autodesks website for at least 12 months.
Safe Harbor Statement
This press relea
LINK: | http://news.autodesk.com/press-release/corporate-sustainability/autode... |
See more stories from autodesk |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
10/05/2024
Allen Media Group, Hawaiian Telcom Sign Multi-Year Distribution Deal
LOS ANGELES Byron Allen's Allen Media Group (AMG) has announced a multi-year comprehensive portfolio agreement with Hawaiian Telcom for continued carriage o...
10/05/2024
LG Ad Solutions to Adopt Unified ID 2.0
MOUNTAIN VIEW, Calif. LG Ad Solutions has announced that it has started to integrate the Unified ID 2.0 solution (UID2) into its platform....
10/05/2024
CBS Sports Expands Streaming Coverage of National Women's Soccer League
CBS Sports has expanded its partnership with the National Women's Soccer League by adding multiplatform coverage of 22 additional regular season matches. Th...
10/05/2024
Sinclair Prebooks $77M in Political Ads
Sinclair's Q1 2024 financial report once again highlighted the growing importance of political advertising for broadcasters at a time when core TV advertisi...
10/05/2024
Nexstar Reports Record Q1 Revenue
IRVING, TEXAS Nexstar reported record first quarter net revenue of $1.28 billion, up 2.1%, thanks to higher distribution revenue. But advertising revenue at the...
10/05/2024
Tegna Names David Loving President & GM of KHOU and KTBU in Houston
TYSONS, Va. Tegna Inc. has named David Loving president and general manager at KHOU, the CBS affiliate, and KTBU, Tegna's stations serving Houston, Texas, e...
10/05/2024
New FILM LOOK CREATOR in DaVinci Resolve 19 will put LUT creators out of business!
New FILM LOOK CREATOR in DaVinci Resolve 19 will put LUT creators out of busines...
10/05/2024
Spotted at CBC
Capitol Broadcasting employees frequently walk past photo shoots in progress when leaving work in the evenings. The WRAL Gardens and the striking architecture o...
10/05/2024
Berklee and Audio Engineering Society to Host Symposium on AI in Music
Berklee and Audio Engineering Society to Host Symposium on AI in Music The inaugural AES International Symposium on AI and the Musician will highlight excitin...
10/05/2024
LG Ad Solutions Integrating Trade Desk's Unified ID 2.0
LG Ad Solutions, the advertising arm of smart-TV maker LG Electronics, said it has begun to integrate the Unified ID 2.0 identity system developed by The Trade ...
10/05/2024
NBC Affiliates To Get Cut-Ins During Olympic Coverage To Promote Local News
NBC and its affiliates have worked out an arrangement that will give affiliates 90-second cut-ins during daytime network coverage of the Paris Olympic games....
10/05/2024
NBC Sends Leslie Jones to Paris for Offbeat Olympics Coverage
Comedian Leslie Jones is joining NBCUniversal's Olympics coverage this summer as what NBCU calls chief super fan commentator. She had a similar role at NB...
10/05/2024
Brooke Shields Stars in Netflix Film Mother of the Bride'
Brooke Shields stars in the rom-com Mother of the Bride, which premieres on Netflix May 9. Mark Waters directs the film, about a destination wedding in Thailand...
09/05/2024
Billie Eilish and Spotify Invite You Inside the Mysterious Universe of HIT ME HARD AND SOFT'
Billie Eilish fans have been waiting with bated breath for her third studio albu...
09/05/2024
12 Artists, 6 Countries, Endless Talent: Meet the RADAR Latin America Class of 2024
From reggaeton to M sica Mexicana, Latin artists are reshaping the rhythm of glo...
09/05/2024
12 Artistas, 6 pases, talento infinito: Conoce a la clase RADAR Latinoamrica del 2024
Desde el reggaet n hasta la M sica Mexicana, los artistas latinos est n dando fo...
09/05/2024
Join Costa Georgiadis, Melissa Leong & Samuel Johnson For New Ground-breaking Series: The Hospital: In The Deep End
Join Costa Georgiadis, Melissa Leong & Samuel Johnson For New Ground-breaking Se...
09/05/2024
Alone Australia audience continues to grow
Alone Australia audience continues to grow 9 May, 2024 Media releases The program continues to deliver for SBS with significant uplifts in digital BVOD vie...
09/05/2024
Factories of the Future: Aerojet Rocketdyne Completes Key Milestones in Expansion and Modernization Effort
Aerojet Rocketdyne is achieving key milestones executing the $215.6M Cooperative...
09/05/2024
Join Calrec at MPTS 2024
Join Calrec at MPTS 2024 | May 15 -16 | Booth A40 | Olympia, London We're looking forward to meeting up with customers and partners at this year's Media...
09/05/2024
NHL Draft to be First Live Televised Event from Vegas' Sphere
The 2024 Upper Deck NHL Draft will be held at Sphere in Las Vegas on Friday, June 28 and Saturday, June 29, marking the first time the event will be held in Las...
09/05/2024
WBD Nears 100M Streaming Subs, Streaming Profits Up
NEW YORK In its Q1 2024 earnings report, Warner Bros. Discovery continued to see growth in its streaming operations, adding 2 million streaming subs in Q1 2024 ...
09/05/2024
Custom Consoles Unveils M-Desk Refinements
LEIGHTON BUZZARD, U.K. Custom Consoles has announced refinements to its M-Desk Technical HA heavy duty height-adjustable desk workstation....
09/05/2024
Veritone Rolls Out AI Consulting, Services Group
DENVER Veritone has launched a consulting and services group focused on bridging the marketplace gap it says exists for seamless artificial intelligence (AI) im...
09/05/2024
How sound (and the technology behind it) can set the tone and enhance emotions in film and TV
Sefi Carmel, CEO and founder of SphereTrax, talks about the importance of the so...
09/05/2024
Yale University's Center for Collaborative Arts and Media (CCAM) Cultivates Creativity with Blackmagic Design
Yale University's Center for Collaborative Arts and Media (CCAM) Cultivates ...
09/05/2024
Blender: Awesome Rack Focus Rig
Blender: Awesome Rack Focus Rig Simon Ubsdell May 9, 2024 0 Comments In which we build a focusing rig in the Blender compositor to enable selective fo...
09/05/2024
Peacock Orders The Office' Offshoot
Peacock has picked up a series from Greg Daniels, who developed The Office for NBC, that is set in the same universe, according to the network, as the NBC hit...
09/05/2024
Sinclair Net Income Drops To $23 Million in First Quarter
Sinclair reported lower net income in the first quarter as distribution revenues rose and ad revenue excluding political spending dipped....
09/05/2024
Vizio Reports $12.1 Million Loss for First Quarter
Vizio Holding Corp., which has agreed to be acquired by Walmart, reported a loss in the first quarter despite growth in its advertising and data businesses....
09/05/2024
Kathleen Keefe, Broadcasting Exec, Dies at 68
Kathleen Keefe, who served as VP of sales for both Hearst Television and Post-Newsweek Stations, died peacefully in her sleep at her home in Roxbury, Connecticu...
09/05/2024
Future Today Adds Movies From Warner Bros Discovery to Fawesome
Streaming company Future Today said it made a deal with Warner Bros. Discovery that will bring 46 movies to Future Today's Fawesome channel....
09/05/2024
Warner Bros. Discovery Reports $966 Million First-Quarter Loss
Despite reporting a profit for its direct-to-consumer business, Warner Bros. Discovery reported a big loss as it took huge write-downs in the first quarter....
09/05/2024
Nexstar Reports Higher Net Income in First Quarter
Nexstar Media Group reported higher first-quarter earnings and said that it cut losses at The CW by $50 million year-over-year....
09/05/2024
Fubo Grabs Viewer Attention, According to TVision Study
Fubo, the sports-focused streaming service, scored high in getting its viewers attention, according to a study conducted by measurement and analytics company TV...
09/05/2024
SailGP Expanding LiveLineFX Graphics Platform to Other Sports
LONDON SailGP, which sponsors high-speed boat racing events worldwide says it is developing its LiveLineFX sports graphics platform for use in other sports....
09/05/2024
Disney, WBD to Offer Streaming Bundle Starting this Summer
BURBANK, Calif. Starting this summer, U.S. consumers will be able to purchase a new streaming bundle offered by Disney and Warner Bros. Discovery that includes ...
09/05/2024
Sony and Apollo plan to break up Paramount'
Companies are expected to sell off Paramounts linear channels as well as close Paramount Plus By Jenny Priestley Published: May 9, 2024 Companies are expe...
09/05/2024
Paramount Global Selects Amdocs Vubiquity to Provide Mana...
Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced that Vubiquity, an Amdocs company, has b...
09/05/2024
CueScript Awarded Best of Show for CueFlip at NAB 2024
CueScript, the leading developer of professional teleprompting solutions, has announced that its CueFlip screen-to-screen folding field prompter has won in this...
09/05/2024
Mother's Day Ideas from CBC
Capitol Broadcasting has a myriad of ways to celebrate Mom! In honor of Mother's Day, here are a few ideas CBC divisions have to help you honor, or remember...
09/05/2024
Scripps Appoints New President and CEO of the Scripps Howard Fund
CINCINNATI Meredith Delaney has been appointed president and CEO of the Scripps Howard Fund, the philanthropic arm of The E.W. Scripps Company....
09/05/2024
Walmart Launches the Onn. 4K Streaming Device
Following leaks earlier this month of Walmart's plans to launch a new 4K streaming box, Walmart has officially unveiled the Onn. 4K Pro, a hybrid streaming ...
09/05/2024
DirecTV Adds More CW Stations
DirecTV continues to add CW affiliates to its streaming line-up, with the addition of four stations owned by Gray Television....
09/05/2024
Takeshi Kitano's film KUBI graded with DaVinci Resolve
Takeshi Kitano's film KUBI graded with DaVinci Resolve Brie Clayton May 8, 2024 0 Comments Blackmagic Design today announced that DaVinci Resolve ...
09/05/2024
zweiB updates to latest version of R&S CLIPSTER
zweiB updates to latest version of R&S CLIPSTER Brie Clayton May 8, 2024 0 Comments Specialist in deliverables for cinema, events and trade shows Ro...
09/05/2024
Simplify Your Filmmaking with Portable Lights
Simplify Your Filmmaking with Portable Lights Sean Alami May 8, 2024 0 Comments Discover the sleek, mobile Zhiyun lights that enhance cinematic scenes...
09/05/2024
The Benefits of using an Audio Interface
The Benefits of using an Audio Interface Colin Smith May 8, 2024 0 Comments This tutorial takes you through the hardware and software benefits of usin...