AUTODESK REPORTS RECORD R EVENUE OF $620 MILLION
AUTODESK REPORTS RECORD R EVENUE OF $620 MILLION IN ITS SECOND
QUARTER OF FISCAL 2009
SAN RAFAEL, Calif., August 14, 2008-- Autodesk, Inc. (NASDAQ: ADSK) today reported revenue
of $620 million for the second quarter of fiscal 2009, an increase of 18 percent over the second
quarter of fiscal 2008. GAAP diluted earnings per share in the second quarter increased 3 percent to
$0.39, compared to $0.38 per diluted share in the second quarter last year. Non-GAAP diluted
earnings per share in the second quarter increased 27 percent to $0.56, compared to $0.44 per
diluted share in the second quarter last year. A reconciliation between GAAP and non-GAAP results
is provided at the end of this press release.
“We’re very pleased that Autodesk was able to achieve another quarter of record revenue results,”
said Carl Bass, Autodesk president and CEO. “Our ability to serve diverse business segments
globally with leading software design and engineering solutions drove our strong performance. The
combination of a strong market position, industry and geographic diversification, a strong balance
sheet, and excellent cash flow, positions Autodesk for continued success.”
In addition to favorable currency exchange rates, Autodesk’s performance in the second quarter of
fiscal 2009 was driven by continued revenue growth of model-based 3D design solutions, 2D vertical
products, emerging economies, as well as total upgrade and maintenance revenue growth.
Combined revenue from the Company’s model-based 3D solutions, which includes Inventor, Revit,
Civil 3D, NavisWorks, Robobat, and Moldflow, increased 36 percent over the second quarter of fiscal
2008 to $166 million and comprised 27 percent of total revenue for the quarter. Excluding Moldflow,
which was acquired during the quarter, model-based 3D solutions grew 31 percent to $159 million.
Autodesk shipped approximately 36,000 commercial seats of its model-based 3D design products,
including approximately 10,000 commercial seats of Inventor and 26,000 seats of its Architecture
Engineering and Construction products – Revit, Civil 3D, NavisWorks, and Robobat. In addition,
revenue from 2D vertical products increased 16 percent compared to the second quarter of fiscal
Revenue from the emerging economies increased 40 percent over the second quarter of fiscal 2008
to $114 million and represented 18 percent of total revenue. EMEA revenue was $267 million, an
increase of 31 percent as reported over the second quarter of fiscal 2008, and 15 percent at constant
currency. Revenue in Asia Pacific was $150 million, an increase of 18 percent as reported year-overyear,
and 11 percent at constant currency. Revenue in the Americas increased 4 percent over the
second quarter of fiscal 2008 to $203 million, despite continued economic headwinds.
Upgrade revenue and maintenance revenue combined increased 34 percent over the second
quarter of fiscal 2008 to $238 million. Maintenance revenue increased 36 percent compared to the
second quarter of fiscal 2008 to $180 million, or 29 percent of total revenue. Deferred maintenance
revenue increased $14 million sequentially and $132 million compared to the second quarter of fiscal
2008.. Total upgrade revenue increased 27 percent compared to the second quarter of fiscal 2008.
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.
Third Quarter Fiscal 2009
Net revenue for the third quarter of fiscal 2009 is expected to be in the range of $625 million and
$635 million. GAAP earnings per diluted share are expected to be in the range of $0.40 and $0.42.
Non-GAAP earnings per diluted share are expected to be in the range of $0.54 and $0.56 and
exclude $0.07 related to stock-based compensation expense and $0.07 for the amortization of
acquisition related intangibles.
Fourth Quarter Fiscal 2009
Net revenue for the fourth quarter of fiscal 2009 is expected to be in the range of $660 million and
$680 million. GAAP earnings per diluted share are expected to be in the range of $0.52 and $0.56.
Non-GAAP earnings per diluted share are expected to be in the range of $0.64 and $0.68 and
exclude $0.08 related to stock-based compensation expense and $0.04 for the amortization of
acquisition related intangibles.
Full Year Fiscal 2009
For fiscal year 2009, net revenue is expected to be in the range of $2.50 billion and $2.53 billion.
Full year GAAP earnings per diluted share are now expected to be in the range of $1.72 and $1.78.
Non-GAAP earnings per diluted share are still expected to be in the range of $2.24 and $2.30 and
exclude $0.29 related to stock-based compensation expense and $0.23 for the amortization of
acquisition related intangibles and in-process research and development expense.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including
statements in the paragraphs under “Business Outlook” above, statements regarding anticipated
market trends and other statements regarding our expected performance and results. Other factors
that could cause actual results to differ materially include the following: general market and business
conditions, our performance in particular geographies, including emerging economies, difficulties
encountered in integrating new or acquired businesses and technologies, the inability to identify and
realize the anticipated benefits of acquisitions, fluctuation in foreign currency exchange rates,
unexpected fluctuations in our tax rate, the timing and degree of expected investments in growth
opportunities, slowing momentum in maintenance revenues, failure to achieve sufficient sell-through
in our channels for new or existing products, pricing pressure, failure to achieve continued cost
reductions and productivity increases, failure to achieve continued migration from 2D products to 3D
products, changes in the timing of product releases and retirements, failure of key new applications
to achieve anticipated levels of customer acceptance, failure to achieve continued success in
technology advancements, the financial and business condition of our reseller and distribution
channels, interruptions or terminations in the business of the Company’s consultants or third party
developers, and unanticipated impact of accounting for technology acquisitions.
Further information on potential factors that could affect the financial results of Autodesk are included
in the Company’s reports on Form 10-K for the year ended January 31, 2008 and our Form 10-Q for
the quarter ended April 30, 2008, which are on file with the Securities and Exchange Commission.
Autodesk does not assume any obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the date on which they were made.
Earnings Conference Call and Webcast
Autodesk will host its second quarter conference call today at 5:00 p.m. EDT. The live
announcement may be accessed at http://www.autodesk.com/investors or by dialing 866-700-7477
or 617-213-8840 (passcode: 68223258). An audio webcast or podcast of the call will be available at
7:00 pm EDT at http://www.autodesk.com/investors. This replay will be maintained on our website
for at least twelve months. An audio replay will also be available for one month beginning at 7:00 pm
EDT by dialing 888-286-8010 or 617-801-6888 (passcode: 93009896).
Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and
construction, and media and entertainment markets. Since its introduction of AutoCAD software in
1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions
to help customers experience their ideas before they are real. Fortune 1000 companies rely on
Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design
process to save time and money, enhance quality and foster innovation. For additional information
about Autodesk, visit http://www.autodesk.com.
Note: AutoCAD, Autodesk, Civil 3D, Inventor, Revit, NavisWorks, and Robobat are either registered
trademarks or trademarks of Autodesk, Inc., in the US and/or other countries. All other brand names,
product names or trademarks belong to their respective holders