UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
August 23, 2004
Date of Report (date of earliest event reported)
Autodesk, Inc.
(Exact name of Registrant as specified in its charter)
| Delaware | 000-14338 | 94-2819853 | ||
| (State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (I.R.S. Employer Identification Number) |
111 McInnis Parkway
San Rafael, California 94903
(Address of principal executive offices)
(415) 507-5000
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Item 2.02. Results of Operations and Financial Condition
On August 19, 2004, Autodesk, Inc. issued a press release reporting its results for the three months and six months ended July 31, 2004 which included Autodesk’s Condensed Consolidated Statements of Cash Flows for the six months ended July 31, 2004 and July 31, 2003. Within the cash flow statements, the amounts related to business combinations were inadvertently reported under the caption “Capital and other expenditures” and amounts related to capital and other expenditures were inadvertently reported under the caption “Business combinations.” This inadvertent transposition did not affect the total cash used in or provided by investing activities nor total cash generated during the period, or other items on the financial statements. Corrected Condensed Consolidated Statements of Cash Flows are attached as Exhibit 99.1.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits
| (c) | Exhibits |
| Exhibit No. |
Description | |
| 99.1 | Condensed Consolidated Statements of Cash Flows for the six months ended July 31, 2004 and July 31, 2003 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AUTODESK, INC. | ||
| By: |
/s/ ALFRED J. CASTINO | |
| Alfred J. Castino Senior Vice President and Chief Financial Officer | ||
Date: August 24, 2004
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Condensed Consolidated Statements of Cash Flows for the six months ended July 31, 2004 and July 31, 2003 |
Exhibit 99.1
Autodesk, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
| Six Months Ended July 31, |
||||||||
| 2004 |
2003 |
|||||||
| (Unaudited) | ||||||||
| Operating Activities |
||||||||
| Net income |
$ | 81,670 | $ | 40,110 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||
| Depreciation and amortization |
25,372 | 24,129 | ||||||
| Stock compensation expense |
377 | 1,013 | ||||||
| Net loss on fixed asset disposals |
282 | — | ||||||
| Write-downs of cost method investments |
— | 26 | ||||||
| Tax benefits from employee stock plans |
24,414 | — | ||||||
| Restructuring related charges, net |
5,648 | — | ||||||
| Changes in operating assets and liabilities |
884 | (17,707 | ) | |||||
| Net cash provided by operating activities |
138,647 | 47,571 | ||||||
| Investing Activities |
||||||||
| Net sales and maturities of available-for-sale marketable securities |
20,165 | 30,839 | ||||||
| Capital and other expenditures |
(15,775 | ) | (13,865 | ) | ||||
| Business combinations, net of cash acquired |
(11,750 | ) | (5,150 | ) | ||||
| Other investing activities |
(1,490 | ) | 1,448 | |||||
| Net cash (used in) provided by investing activities |
(8,850 | ) | 13,272 | |||||
| Financing activities |
||||||||
| Proceeds from issuance of common stock, net of issuance costs |
160,879 | 21,467 | ||||||
| Repurchase of common stock |
(216,410 | ) | (45,671 | ) | ||||
| Dividends paid |
(6,741 | ) | (6,680 | ) | ||||
| Net cash used in financing activities |
(62,272 | ) | (30,884 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents |
(3,803 | ) | 3,088 | |||||
| Net increase in cash and cash equivalents |
63,722 | 33,047 | ||||||
| Cash and cash equivalents at beginning of year |
282,249 | 186,377 | ||||||
| Cash and cash equivalents at end of period |
$ | 345,971 | $ | 219,424 | ||||
| Supplemental cash flow information: |
||||||||
| Net cash paid (received) during the period for income taxes |
$ | 7,365 | $ | (573 | ) | |||