Holds Meeting with Autodesk Management Investor Event
SAN RAFAEL, Calif.--(BUSINESS WIRE)--Jun. 19, 2012--
Autodesk,
Inc. (NASDAQ:ADSK) today reaffirmed its business outlook for the
second quarter and full year fiscal 2013, initially provided on May 17,
2012.
Autodesk reaffirmed its business outlook in conjunction with today's
Meeting with Autodesk Management investor event.
“With just over a month left in the second quarter, we are confident in
our business outlook,” said Carl
Bass, Autodesk president and CEO. “At our investor event today we
will discuss our market opportunities and the reasons for our confidence
in our target long-term business model.”
At today’s event, Bass will join Mark Hawkins, Autodesk executive vice
president and CFO, Andrew Anagnost, senior vice president, Industry
Strategy & Marketing, and Steve Blum, senior vice president, Worldwide
Sales and Services to discuss the company’s strategy for growth with the
investment community.
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. Autodesk’s business
outlook for the second quarter and full year fiscal 2013 assumes a
continuation of the current economic environment and foreign exchange
currency rate environment.
Second Quarter Fiscal 2013
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2Q FY13 Guidance Metrics
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2Q FY13 (ending July 31, 2012)
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Revenue (in millions)
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$580 to $600
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EPS - GAAP
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$0.29 to $0.34
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EPS - Non-GAAP
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$0.46 to $0.51
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Non-GAAP earnings per diluted share exclude $0.12 related to stock-based
compensation expense and $0.05 for the amortization of acquisition
related intangibles, net of tax.
Full Year Fiscal 2013
Net revenue for fiscal 2013 is expected to increase by at least 10
percent compared to fiscal 2012. Autodesk anticipates fiscal 2013 GAAP
operating margin to increase by approximately 120 basis points and
non-GAAP operating margin to increase by approximately 200 basis points
compared to fiscal 2012.
Reconciliation between the GAAP and non-GAAP operating margin outlook
for fiscal 2013.
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Fiscal 2013
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GAAP operating margin basis point improvement over prior year
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120
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Stock-based compensation expense
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120
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Amortization of acquisition related intangibles
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-40
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Non-GAAP operating margin basis point improvement over prior year
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200
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Both second quarter fiscal 2013 and full year fiscal 2013 outlooks
assume an annual effective tax rate of approximately 26 percent for both
GAAP and non-GAAP results. This rate does not include the federal R&D
tax credit benefit, which expired on December 31, 2011, or one-time
discrete items. The assumed effective tax rate will be adjusted if or
when there is a renewal of the tax credit.
Investor Meeting Webcast
Autodesk will host its Meeting with Autodesk Management today at 9:00
a.m. ET. The live audio broadcast with slides can be accessed at http://www.autodesk.com/investors.
A webcast replay and podcast replay of the event will be available
beginning later today on our website at http://www.autodesk.com/investors.
This replay will be maintained on our website for at least twelve months.
Safe Harbor Statement
This press release contains forward-looking statements that involve
risks and uncertainties, including statements regarding our confidence
in our second quarter business outlook, statements in the paragraphs
under “Business Outlook” above, and other statements regarding our
expected strategies, market and products positions, performance, and
results. There are a significant number of factors that could cause
actual results to differ materially from statements made in this press
release, including: general market, political, economic and business
conditions, failure to maintain our revenue growth and profitability,
our performance in particular geographies, including emerging economies,
failure to successfully incorporate sales of licenses of products suites
into our overall sales strategy, failure to successfully expand adoption
of our products, failure to maintain cost reductions and productivity
increases or otherwise control our expenses, slowing momentum in
maintenance billings or revenues, difficulties encountered in
integrating new or acquired businesses and technologies, the inability
to identify and realize the anticipated benefits of acquisitions, the
financial and business condition of our reseller and distribution
channels, fluctuation in foreign currency exchange rates, the success of
our foreign currency hedging program, failure to achieve sufficient
sell-through in our channels for new or existing products, pricing
pressure, unexpected fluctuations in our tax rate, the timing and degree
of expected investments in growth and efficiency opportunities, 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,
interruptions or terminations in the business of Autodesk consultants,
the expense and impact of legal or regulatory proceedings, and any
unanticipated accounting charges.
Further information on potential factors that could affect the financial
results of Autodesk are included in Autodesk’s report on Form 10-K for
the year ended January 31, 2012, and Form 10-Q for the quarter ended
April 30, 2012, which are on file with the U.S. 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.
About Autodesk
Autodesk, Inc., is a leader in 3D
design, engineering and entertainment software. Customers across the
manufacturing, architecture, building, construction, and media and
entertainment industries – including the last 17 Academy Award winners
for Best Visual Effects – use Autodesk software to design, visualize,
and simulate their ideas. Since its introduction of AutoCAD software in
1982, Autodesk continues to develop the broadest portfolio of
state-of-the-art software for global markets. For additional information
about Autodesk, visit www.autodesk.com.
Autodesk and AutoCAD are registered trademarks or trademarks of
Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA
and/or other countries. Academy Award is a registered trademark of the
Academy of Motion Picture Arts and Sciences. All other brand names,
product names, or trademarks belong to their respective holders.
Autodesk reserves the right to alter product and service offerings, and
specifications and pricing at any time without notice, and is not
responsible for typographical or graphical errors that may appear in
this document.
© 2012 Autodesk, Inc. All rights reserved.
Source: Autodesk, Inc.
Autodesk, Inc.
David Gennarelli, 415-507-6033 (Investors)
david.gennarelli@autodesk.com
Greg
Eden, 415-547-2135 (Press)
greg.eden@autodesk.com
