Autodesk Announces Executive Change
“I want to thank Mark for the many contributions he has made to
Autodesk,” said
“It has been a pleasure working for Carl and with everybody at
Autodesk,” said Hawkins. “I am proud to have been part of the
Business Outlook
The following are forward-looking statements based on current
expectations and assumptions, and involve risks and uncertainties some
of which are set forth below.
Second Quarter Fiscal 2015
Q2 FY15 Guidance Metrics | Q2 FY15 (ending July 31, 2014) | |||
Revenue (in millions) | $595-$610 | |||
EPS GAAP | $0.05-$0.10 | |||
EPS Non-GAAP (1) |
$0.25-$0.30 |
(1) Non-GAAP earnings per diluted share exclude
Full Year Fiscal 2015
FY15 Guidance Metrics | FY15 (ending January 31, 2015) | |||
Billings growth | 7-9% | |||
Revenue growth | 4-6% | |||
GAAP operating margin | 3-5% | |||
Non-GAAP operating margin | 14-16% | |||
Net subscription additions | 150,000-200,000 |
Reconciliation for Guidance: | |||||||||
The following is a reconciliation of anticipated fiscal 2015 GAAP and non-GAAP operating margins: | |||||||||
Fiscal 2015 | |||||||||
GAAP operating margin | 3 | % | 5 | % | |||||
Stock-based compensation expense | 7 | % | 7 | % | |||||
Amortization of purchased intangibles | 4 | % | 4 | % | |||||
Restructuring charges | — | % | — | % | |||||
Non-GAAP operating margin | 14 | % | 16 | % |
The second quarter and full year fiscal 2015 outlook assume projected
annual effective tax rates of 25 percent and 25.5 percent for GAAP and
non-GAAP results, respectively. These rates do not include one-time
discrete items or the federal R&D tax credit that expired on
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements in the paragraphs under “Business Outlook” above, statements regarding the status of our transition to a subscription-based business model, and other statements regarding our 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; failure to successfully manage transitions to new business models and markets, including the introduction of additional ratable revenue streams and our continuing efforts to attract customers to our cloud-based offerings and expenses related to the transition of our business model; failure to maintain cost reductions and productivity increases or otherwise control our expenses; our performance in particular geographies, including emerging economies; the ability of governments around the world to meet their financial and debt obligations, and finance infrastructure projects; weak or negative growth in the industries we serve; slowing momentum in subscription billings or revenues; difficulty in predicting revenue from new businesses and the potential impact on our financial results from changes in our business models; 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; dependence on and the timing of large transactions; 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; and any unanticipated accounting charges.
Further information on potential factors that could affect the financial
results of
Use of Non-GAAP Financial Measures
To supplement our consolidated financial statements presented on a GAAP
basis,
There are limitations in using non-GAAP financial measures because the
non-GAAP financial measures are not prepared in accordance with
generally accepted accounting principles and may be different from
non-GAAP financial measures used by other companies. The non-GAAP
financial measures are limited in value because they exclude certain
items that may have a material impact upon our reported financial
results. The presentation of this additional information is not meant to
be considered in isolation or as a substitute for the directly
comparable financial measures prepared in accordance with GAAP in
About
© 2014
Source:
Autodesk, Inc.
Media Contact:
Noah Cole, +1-415-580-3535
noah.cole@autodesk.com
Investors
Contact:
David Gennarelli, +1-415-507-6033
david.gennarelli@autodesk.com