Autodesk, Inc. reported financial results for the fourth quarter and full fiscal year ended January 31, 2015. The strong increase in billings and subscriptions and record cash flow from operating activities reflect continued progress on the company’s ongoing business model transition.
Fourth Quarter Fiscal 2015
- Total billings increased 13 percent, compared to the fourth quarter last year as reported, and 20 percent on a constant currency basis.
- Deferred revenue increased 28 percent to a record $1.16 billion, compared to $901 million in the fourth quarter last year.
- Total subscriptions, including maintenance, desktop (rental), and cloud subscriptions, increased by approximately 100,000 from the third quarter of fiscal 2015, including approximately 17,000 subscriptions related to the recent acquisition of Shotgun. This is the first quarter that Shotgun subscriptions have been included in the subscription count.
- Revenue was $665 million, an increase of 13 percent compared to the fourth quarter last year as reported, and 15 percent on a constant currency basis. Revenue contribution from the recent acquisition of Delcam was approximately $20 million.
- GAAP operating margin was 2 percent, compared to 9 percent in the fourth quarter last year.
- Non-GAAP operating margin was 13 percent, compared to 20 percent in the fourth 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 $0.23 in the fourth quarter last year.
- Non-GAAP diluted earnings per share were $0.25, compared to $0.40 in the fourth quarter last year.
- Cash flow from operating activities was a record $257 million, compared to $184 million in the fourth quarter last year.
"Our strong fourth quarter results capped off a terrific year for Autodesk," said Carl Bass, Autodesk president and CEO. "Strength in our core Architecture, Engineering and Construction (AEC) and Manufacturing business segments led to over-performance on nearly all metrics, including billings, revenue, deferred revenue, subscription additions, and cash flow. Fiscal 2015 was the first year of our business model transition to more cloud and term-based subscription offerings and we are pleased with our early progress. Our subscription offerings provide our customers with greater flexibility and create a new and better experience. Over the course of the next two years we expect to transition the vast majority of our business to these subscription offerings."
To view an unabridged version of this press release, visit: http://news.autodesk.com/press-release/corporate-sustainability/autodesk-reports-strong-fourth-quarter-results
