Autodesk, Inc. today reported financial results for the first quarter of fiscal 2015.
First Quarter Fiscal 2015
- Total billings increased 10 percent, compared to the first quarter of fiscal 2014.
- Total subscriptions increased by over 89,000, compared to the fourth quarter of fiscal 2014.
- Revenue was $593 million, an increase of 4 percent, compared to the first quarter of fiscal 2014 as reported, and increased 5 percent on a constant currency basis. Revenue contribution from the recent acquisition of Delcam was immaterial to first quarter results.
- GAAP operating margin was 7 percent, compared to 14 percent in the first quarter of fiscal 2014.
- Non-GAAP operating margin was 17 percent, compared with 24 percent in the first quarter of fiscal 2014. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables.
- GAAP diluted earnings per share were $0.12, compared to $0.24 in the first quarter of fiscal 2014.
- Non-GAAP diluted earnings per share were $0.32, compared to $0.42 in the first quarter of fiscal 2014.
- Deferred revenue increased 13 percent to a record $964 million, compared to the first quarter of fiscal 2014.
- Cash flow from operating activities was $219 million, compared to $224 million in the first quarter of fiscal 2014.
"Our year is off to an encouraging start. We had solid first quarter results and made meaningful progress on our business model transition with the addition of over 89,000 subscriptions,” said Carl Bass, Autodesk president and CEO. "Continued strength in our suites and Architecture, Engineering and Construction (AEC) business segment, strong demand in Asia Pacific (APAC), and solid performance in our Manufacturing business drove financial results above our expectations.
“While we experienced strong growth in our cloud and desktop subscriptions (rental)," Bass continued, "strong growth in maintenance subscriptions was the primary driver behind the increase in total subscriptions, as expected. Late in the first quarter we launched AutoCAD LT as a desktop subscription on a global basis and were pleased with the initial response. We look forward to building on these early successes and transitioning Autodesk to an even more profitable and recurring, subscription-based model over the next four years.”
To view an unabridged version of this press release, visit: http://news.autodesk.com/press-release/corporate-sustainability/autodesk-reports-strong-first-quarter-results
