Autodesk, Inc. reported financial results for the third quarter of fiscal 2015.
Third Quarter Fiscal 2015
- Total billings increased 25 percent, compared to the third quarter last year.
- Revenue was $618 million, an increase of 11 percent, compared to the third quarter last year as reported, and increased 12 percent on a constant currency basis. Revenue contribution from the recent acquisition of Delcam was approximately $14 million.
- Total maintenance, desktop (rental), and cloud subscriptions increased by approximately 121,000 from the second quarter of fiscal 2015, including approximately 25,000 subscriptions related to Delcam. This is the first quarter that Delcam subscriptions have been included in the subscription count.
- GAAP operating margin was 2 percent, compared to 12 percent in the third quarter last year.
- Non-GAAP operating margin was 13 percent, compared to 22 percent in the third quarter last year. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables.
- GAAP diluted earnings per share were $0.05, compared to $0.25 in the third quarter last year.
- Non-GAAP diluted earnings per share were $0.25, compared to $0.41 in the third quarter last year.
- Deferred revenue was a record $1 billion, an increase of 31 percent, compared to the third quarter last year.
- Cash flow from operating activities was $136 million, an increase of 50 percent, compared to the third quarter last year.
"Strong billings and revenue growth was driven by strength in several areas including suites, our Architecture, Engineering and Construction (AEC) and Manufacturing business segments, large deal activity, and double-digit growth in all three of our major geographies on a constant currency basis," said Carl Bass, Autodesk president and CEO. "We continue to make meaningful progress in our transition to a more recurring, subscription-based business, adding approximately 121,000 subscriptions and more flexible enterprise license agreements. As a result, deferred revenue increased significantly to a record $1 billion. These strong results have led us to raise our outlook for billings and revenue for fiscal 2015 for the third time this year."
To view an unabridged version of this press release, visit: http://news.autodesk.com/press-release/corporate-sustainability/autodesk-reports-strong-third-quarter-results
