CIMdata PLM Industry Summary Online Archive

4 June 2007

Financial News

Autodesk Files Fiscal 2007 Financial Statements

Autodesk, Inc . announced that, following the completion of its voluntary review of the Company's stock option grant practices and related accounting issues, it has filed its fiscal 2007 financial statements with the Securities and Exchange Commission. The review covered the period from January 1988 through August 2006 and resulted in aggregate pre-tax, non-cash charges of $34.8 million over the entire period. On a GAAP basis, diluted earnings per share for fiscal 2007 were $1.19, and restated diluted earnings per share for fiscal years 2006, 2005, 2004 and 2003 were $1.35, $0.90, $0.50 and $0.12, respectively.

Diluted earnings per share for the quarter ended April 30, 2007 were $0.34. Non-GAAP diluted earnings per share were $0.44. Non-GAAP diluted earnings per share exclude stock-based compensation expenses as required by SFAS 123R of $0.05 per share, amortization of acquisition related intangibles of $0.01 per share, and reimbursement to employees for tax issues arising from the voluntary stock option review of $0.04.

In addition, the company reiterated the guidance it gave on its financial results press release dated May 17, 2007.

Business Outlook

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.

Second Quarter Fiscal 2008

Net revenues for the second quarter of fiscal 2008 are expected to be in the range of $520 million to $530 million. GAAP earnings per diluted share are expected to be between $0.27 and $0.29. Non-GAAP earnings per diluted share are expected to be between $0.41 and $0.43 and exclude $0.09 related to stock based compensation expenses as required by SFAS 123R, $0.01 for the amortization of acquisition related intangibles, and reimbursement to employees for tax issues arising from the voluntary stock option review of $0.04.

Third Quarter Fiscal 2008

Net revenues for the third quarter of fiscal 2008 are expected to be in the range of $520 million to $530 million. GAAP earnings per diluted share are expected to be between $0.33 and $0.35. Non-GAAP earnings per diluted share are expected to be between $0.43 and $0.45 and exclude $0.09 related to stock based compensation expenses as required by SFAS 123R, and $0.01 for the amortization of acquisition related intangibles.

Full Year Fiscal 2008

For fiscal year 2008, net revenues are expected to be between $2.115 billion and $2.150 billion. GAAP earnings per diluted share are expected to be between $1.40 and $1.47. Non-GAAP earnings per diluted share are expected to be between $1.82 and $1.89. Non-GAAP earnings per diluted share exclude $0.30 related to stock based compensation expenses as required by SFAS 123R, $0.04 for the amortization of acquisition related intangibles, and reimbursement to employees for tax issues arising from the voluntary stock option review of $0.08.

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