To supplement our consolidated financial statements presented on a GAAP basis, Autodesk provides investors with certain non-GAAP measures including non-GAAP net income, non-GAAP net income per share, non-GAAP cost of license and other revenues, non-GAAP gross margin, non-GAAP operating expenses, non- GAAP income from operations and non-GAAP provision for income taxes. These non-GAAP financial measures are adjusted to exclude certain costs, expenses, gains and losses, including stock based compensation expense, litigation expenses and amortization of purchased intangibles. We believe these exclusions are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future, as well as to facilitate comparisons with our historical operating results. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of Autodesk's underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside our core operating results. In addition, these non- GAAP financial measures are among the primary indicators management uses as a basis for our planning and forecasting of future periods.
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 generally accepted accounting principles in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.
Autodesk Fiscal Year 2007 QTR 1 QTR 2 QTR 3 QTR 4 YTD2007 Financial Statistics (in millions): Total net revenues $436.0 $436.0 License and other revenues $349.4 $349.4 Maintenance revenues $86.6 $86.6 GAAP Operating Expenses $326.8 $326.8 GAAP Operating Margin 14% 14% GAAP Net Income $48.5 $48.5 GAAP Diluted Net Income Per Share $0.20 $0.20 Non-GAAP Operating Expenses (1) (2) $287.7 $287.7 Non-GAAP Operating Margin (1) (3) 23% 23% Non-GAAP Net Income (1) (4) $80.0 $80.0 Non-GAAP Diluted Net Income Per Share (1) (5) $0.32 $0.32 Total Cash and Marketable Securities $385.8 $385.8 Days Sales Outstanding 58 58 Capital Expenditures $11.4 $11.4 Cash from Operations $90.2 $90.2 GAAP Depreciation and Amortization $12.5 $12.5 Revenue by Geography (in millions): Americas $170.2 $170.2 Europe $164.3 $164.3 Asia/Pacific $101.5 $101.5 Revenue by Division (in millions): Design Solutions Segment $386.7 $386.7 Platform Technology Division and other $207.3 $207.3 Manufacturing Solutions Division $75.0 $75.0 Building Solutions Division $53.2 $53.2 Infrastructure Solutions Division $51.2 $51.2 Media and Entertainment Segment $46.8 $46.8 Other Revenue Statistics: Upgrade Revenue (in millions) $75.2 $75.2 % of Revenue from AutoCAD, AutoCAD upgrades and AutoCAD LT 44% 44% % of Revenue from 3D design products 20% 20% % of revenue from emerging economies 12% 12% Deferred Maintenance Revenue (in millions): Deferred Maintenance Revenue Balance $252.4 $252.4 Favorable (Unfavorable) Impact of U.S. Dollar Translation Relative to Foreign Currencies Compared to Comparable Prior Year Period (in millions): Total Net Revenues $(19.3) $(19.3) Total Operating Expenses $ 3.7 $3.7 Net Income $(15.6) $(15.6) Operating Income (Loss) by Segment (in millions): Design Solutions $180.7 $180.7 Media and Entertainment $0.6 $0.6 Unallocated amounts $(122.0) $(122.0) Common Stock Statistics: Shares Outstanding 231,296,000 231,296,000 Fully Diluted Shares Outstanding 244,698,000 244,698,000 Shares Repurchased 1,700,000 1,700,000 Installed Base Statistics: Total AutoCAD-based Installed Base 3,928,400 3,928,400 Total Inventor Installed Base 577,700 577,700 Total Subscription Installed Base 989,800 989,800