Autodesk Reiterates Third Quarter and Full Year Fiscal 2015 Business Outlook

Hosts Annual Investor Day

SAN FRANCISCO — (BUSINESS WIRE) — October 1, 2014 — Today, Autodesk, Inc. (NASDAQ: ADSK) reiterated its business outlook for its third quarter and full year fiscal 2015. The design and engineering software leader will also share plans for expanding its market opportunity and transitioning to a more recurring business model at its annual Investor Day, held in the Autodesk Gallery in San Francisco.

“We continue to be optimistic about our near-term opportunities and long term growth prospects,” said Carl Bass, Autodesk president and CEO. “More and more designers, engineers and creative artists are recognizing the value of Autodesk and subscribing to our maintenance, desktop, and cloud offerings. At our Investor Day event today we will discuss the reasons for our confidence in our transition to a subscription-based business model and how it supports the re-affirmation of our long-term strategy.”

At today’s event Investor Day event, Bass will be joined by other members of the Autodesk leadership team to discuss the demands and opportunities of the current market, business model transition, financial metrics, and the company’s corporate strategy.

Today Autodesk also announced the appointment of R. Scott Herren as senior vice president and chief financial officer, effective November 1, 2014 (see today’s related announcement).

Business Outlook

Autodesk reiterates its third quarter and full year fiscal 2015 business outlook. Autodesk's business outlook for the third quarter and full year fiscal 2015 assumes, among other things, the current economic environment and foreign exchange currency rate environment. A reconciliation between the GAAP and non-GAAP estimates for fiscal 2015 is provided below.

Q3 FY15 Guidance Metrics

Q3 FY15 (ending October 31, 2014)

Revenue (in millions) $590 - $605
EPS GAAP ($0.05) - $0.01
EPS Non-GAAP (1) $0.17 - $0.23

(1) Non-GAAP earnings per diluted share exclude $0.15 related to stock-based compensation expense and $0.07 for the amortization of acquisition related intangibles, net of tax.

FY15 Guidance Metrics FY15 (ending January 31, 2015)
Billings growth 10 - 12%
Revenue growth 7 - 9%
GAAP operating margin 4 - 5%
Non-GAAP operating margin 15 - 16%
Net subscription additions 200,000 - 250,000

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