Autodesk Reports Third Quarter Results

(1) Effective in the second quarter of fiscal 2013, Autodesk began excluding gains and losses on strategic investments for purposes of its non-GAAP financial measures. Prior period non-GAAP interest and other income (expense), net, net income and earnings per share amounts have been revised to conform to the current period presentation.

 

Autodesk

Other Supplemental Financial Information (a)

 

Fiscal Year 2013

 

QTR 1

 

QTR 2

 

QTR 3

 

YTD 2013

Financial Statistics ($ in millions, except per share data):        
Total Net Revenue $ 589 $ 569 $ 548 $ 1,705
License and Other Revenue $ 361 $ 341 $ 317 $ 1,019
Maintenance Revenue $ 228 $ 228 $ 231 $ 687
 
GAAP Gross Margin 90 % 89 % 89 % 90 %
Non-GAAP Gross Margin (1)(2) 92 % 91 % 91 % 92 %
 
GAAP Operating Expenses $ 436 $ 416 $ 456 $ 1,308
GAAP Operating Margin 16 % 16 % 6 % 13 %
GAAP Net Income $ 79 $ 65 $ 29 $ 173
GAAP Diluted Net Income Per Share (b) $ 0.34 $ 0.28 $ 0.13 $ 0.74
 
Non-GAAP Operating Expenses (1)(3) $ 396 $ 376 $ 356 $

1,128

Non-GAAP Operating Margin (1)(4) 25 % 25 % 26 % 25 %
Non-GAAP Net Income (1)(5)(c) $ 109 $ 111 $ 108 $ 328
Non-GAAP Diluted Net Income Per Share (1)(6)(b)(c) $ 0.47 $ 0.48 $ 0.47 $ 1.41
 
Total Cash and Marketable Securities $ 1,796 $ 1,717 $ 1,737 $ 1,737
Days Sales Outstanding 46 58 49 49
Capital Expenditures $ 12 $ 17 $ 17 $ 45
Cash Flow from Operating Activities $ 139 $ 107 $ 157 $ 404
GAAP Depreciation and Amortization $ 29 $ 29 $ 35 $ 93
 
Deferred Maintenance Revenue Balance 648 672 634 634
 
Revenue by Geography:
Americas $ 208 $ 199 $ 209 $ 616
Europe, Middle East and Africa $ 224 $ 210 $ 196 $ 630
Asia Pacific $ 157 $ 161 $ 142 $ 460
% of Total Rev from Emerging Economies 14 % 15 % 15 % 15 %
 
Revenue by Segment (c):
Platform Solutions and Emerging Business $ 229 $ 217 $ 205 $ 650
Architecture, Engineering and Construction $ 163 $ 162 $ 163 $ 489
Manufacturing $ 146 $ 141 $ 132 $ 419
Media and Entertainment $ 51 $ 49 $ 48 $ 148
 
Other Revenue Statistics (c):
% of Total Rev from Flagship 58 % 56 % 55 % 56 %
% of Total Rev from Suites 28 % 29 % 30 % 29 %
% of Total Rev from New and Adjacent 14 % 14 % 15 % 15 %
% of Total Rev from AutoCAD and AutoCAD LT 35 % 34 % 33 % 34 %
Upgrade and Crossgrade Revenue $ 50 $ 34 $ 32 $ 116
 

Favorable (Unfavorable) Impact of U.S. Dollar Translation Relative to Foreign
Currencies Compared to Comparable Prior Year Period:

FX Impact on Total Net Revenue $ 14 $ (1 ) $ (10 ) $ 2
FX Impact on Cost of Revenue and Total Operating Expenses $ (2 ) $ 6 $ 7 $ 12
FX Impact on Operating Income $ 12 $ 5 $ (3 ) $ 14
 
Gross Margin by Segment (c):
Platform Solutions and Emerging Business $ 216 $ 203 $ 191 $ 610
Architecture, Engineering and Construction $ 149 $ 147 $ 150 $ 446
Manufacturing $ 134 $ 130 $ 122 $ 387
Media and Entertainment $ 42 $ 39 $ 38 $ 119
Unallocated amounts $ (11 ) $ (11 ) $ (11 ) $ (33 )
 
Common Stock Statistics:
Common Shares Outstanding 229.7 226.7 224.5 224.5
Fully Diluted Weighted Average Shares Outstanding 234.1 232.1 230.5 232.0
Shares Repurchased 2.5 3.4 4.0 9.9
 

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