CIMdata PLM Industry Summary Online Archive

6 April 2005

Financial News

Autodesk Raises Financial Guidance for Fiscal 2006

 

Autodesk, Inc. announced it is raising its financial guidance for the first quarter, second quarter and full year of fiscal 2006.

"Once again, our fiscal year is off to a very strong start," said Carol Bartz, Autodesk Chairman and CEO. "We are seeing increased global demand across all of our industries. In March, we launched the strongest portfolio of products in our 23 year history and customer response has been terrific. Our customers demand quick implementation, ease of use and fast return on investment and Autodesk is meeting those needs."

During its Investor Day event, Autodesk management will address key trends driving the strong growth, including robust new seat sales and increasing adoption of 3D. The company will also address the emerging lifecycle management opportunity.

"It is clear our strategy is working," said Bartz. "Our products provide customers the ability to create smarter and richer designs. Customer adoption of our 3D solutions is increasing. In addition, our lifecycle management solutions are reaching new segments of the market. Customer awareness of our solutions for managing and sharing design data quickly, easily and profitably is growing, presenting a significant future growth opportunity. I have never been more enthusiastic about Autodesk's opportunities."

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.

First Quarter Fiscal 2006

Net revenues for the first quarter of fiscal 2006 are currently expected to be in the range of $340 million to $350 million. Earnings per diluted share are currently expected to be in the range of $0.27 to $0.29.

Second Quarter Fiscal 2006

Net revenues for the second quarter of fiscal 2006 are currently expected to be in the range of $335 million to $345 million. Operating expenses are expected to rise in the second quarter due to increasing investments in growth initiatives. Earnings per diluted share are currently expected to be in the range of $0.21 to $0.23.

Full Year Fiscal 2006

For fiscal year 2006, net revenues are currently expected to be in the range of $1.425 billion to $1.475 billion. Earnings per diluted share are currently expected to be in the range of $1.10 to $1.15. Guidance for full year fiscal 2006 does not take into account the impact of employee stock compensation expensing which is expected to be required beginning in the fiscal third quarter of 2006.

All fiscal 2006 EPS guidance ranges are based upon the company's estimated 20 percent effective tax rate. The company believes that its effective tax rate will revert back to the historical effective rate of approximately 24 percent in fiscal 2007. Adoption of the new employee stock compensation expensing rules may impact the effective tax rate for the second half of fiscal 2006 and fiscal 2007.

The Investor Day event will be available live via webcast beginning at 8:30 a.m. EDT today at http://www.autodesk.com/investors . A replay of this webcast will be maintained on our website for at least twelve months.

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