Autodesk Reports Fourth Quarter And Full Year Fiscal 2009 Financial Results
[ Back ]   [ More News ]   [ Home ]
Autodesk Reports Fourth Quarter And Full Year Fiscal 2009 Financial Results

SAN RAFAEL, Calif., Feb. 26 /PRNewswire/ -- SAN RAFAEL, Calif., Feb. 26 /PRNewswire-FirstCall/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported revenue of $490 million for the fourth quarter of fiscal 2009, a decrease of 18 percent over the fourth quarter of fiscal 2008. GAAP diluted loss per share in the fourth quarter was $0.47, compared to earnings of $0.40 per diluted share in the fourth quarter last year. Non-GAAP diluted earnings per share in the fourth quarter were $0.31, compared to $0.52 per diluted share in the fourth quarter last year. Non-GAAP diluted earnings per share exclude a pre-tax impairment charge of $0.56 related primarily to a reduction in the carrying of goodwill in the company's Media and Entertainment business segment, $0.18 for restructuring charges, $0.08 related to stock-based compensation expense, $0.11 for the amortization of acquisition related intangibles and in-process research and development, and the offsetting tax impact of $0.15 related to these items.

For fiscal 2009, revenue was a record $2.315 billion, an increase of 7 percent compared to fiscal 2008. Fiscal 2009 net income was $184 million, or $0.80 per diluted share, on a GAAP basis and $448 million, or $1.95 per diluted share, on a non-GAAP basis. A reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

"We have much to be proud of in fiscal 2009, including achieving record annual revenue results, expanding our market presence into new territories, and adding several new and exciting technologies to our portfolio of world-class products," said Carl Bass, Autodesk president and CEO. "While the global economic conditions in the first and second half of fiscal 2009 were very divergent, we are taking actions to reduce our cost structure to better fit the realities of today's economic conditions. Our strong market position and best-in-class products give us confidence that Autodesk will emerge from this downturn better positioned and more operationally efficient."

Operational Overview

Combined revenue from Autodesk's model-based 3D design solutions decreased 1 percent over the fourth quarter of fiscal 2008 to $144 million and comprised 29 percent of total revenue for the quarter. Autodesk shipped approximately 30,000 new commercial seats of its model-based 3D design products including approximately 6,100 seats of 3D manufacturing products, and 24,000 seats of its 3D Architecture Engineering and Construction products.

EMEA revenue was $219 million, a decrease of 16 percent as reported over the fourth quarter of fiscal 2008, and a decrease of 8 percent on a constant currency basis. Revenue in Asia Pacific was $99 million, a decrease of 25 percent as reported year-over-year, and a 28 percent decrease on a constant currency basis. Revenue in the Americas decreased 17 percent to $172 million compared to the fourth quarter of fiscal 2008. Revenue from emerging economies decreased 31 percent, compared to the fourth quarter of fiscal 2008 to $80 million and represented 16 percent of total revenue.

Business Outlook

The following statements are forward-looking statements which are based on current expectations and which involve risks and uncertainties some of which are set forth below. Given the uncertainty of the current markets, Autodesk is only providing guidance for its fiscal first quarter of 2010 at this time.

First Quarter Fiscal 2010

Net revenue for the first quarter of fiscal 2010 is expected to be in the range of $400 million and $440 million. GAAP loss per diluted share is expected to be in the range of $0.20 and $0.08. Non-GAAP earnings per diluted share are expected to be in the range of $0.00 and $0.12 and excludes $0.07 related to restructuring charges, $0.08 related to stock-based compensation expense and $0.05 for the amortization of acquisition related intangibles. The GAAP EPS range assumes a tax rate of 31% and the non-GAAP EPS range assumes a tax rate of 27%.

In addition, operating cash flow for the first quarter is expected to be negative as a result of lower revenues combined with cash outlays in the quarter for payments of the annual employee incentive plan and payments relating to the restructuring plan.

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 anticipated market trends and other statements regarding our expected investments, strategies, performance and results. Other factors that could cause actual results to differ materially include the following: general market and business conditions, our performance in particular geographies, including emerging economies, the financial and business condition of our reseller and distribution channels, fluctuation in foreign currency exchange rates, failure to achieve planned cost reductions and productivity increases, difficulties encountered in integrating new or acquired businesses and technologies, the inability to identify and realize the anticipated benefits of acquisitions, unexpected fluctuations in our tax rate, the timing and degree of expected investments in growth opportunities, slowing momentum in maintenance revenues, failure to achieve sufficient sell-through in our channels for new or existing products, pricing pressure, failure to achieve continued migration from 2D products to 3D products, changes in the timing of product releases and retirements, failure of key new applications to achieve anticipated levels of customer acceptance, failure to achieve continued success in technology advancements, interruptions or terminations in the business of Autodesk consultants, and unanticipated impact of accounting for technology acquisitions.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk reports on Form 10-K for the year ended January 31, 2008 and our Forms 10-Q for the quarters ended April 30, 2008, July 31, 2008, and October 31, 2008, which are on file with the Securities and Exchange Commission. Autodesk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Earnings Conference Call and Webcast

Autodesk will host its fourth quarter conference call today at 5:00 p.m. EST. The live broadcast can be accessed at http:// www.autodesk.com/investors. A replay of the broadcast will be available at 7:00 pm EST at http:// www.autodesk.com/investors. This replay will be maintained on our website for at least twelve months.

About Autodesk

Autodesk, Inc. is a world leader in 2D and 3D design software for the manufacturing, construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art Digital Prototyping solutions to help customers experience their ideas before they are built. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit www.autodesk.com.

Autodesk and AutoCAD, are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

(C) 2009 Autodesk, Inc. All rights reserved.

    Investors: David Gennarelli, david.gennarelli@autodesk.com, 415-507-6033

    Press:     Pam Pollace, pam.pollace@autodesk.com, 415-547-2441
               Colleen Rubart, colleen.rubart@autodesk.com, 415-547-2368

    Autodesk, Inc.
    Consolidated Statements of Operations
    (In millions, except per share data)

                                       Three Months Ended  Fiscal Year Ended
                                             January 31,        January 31,
                                            ------------      --=-----------
                                            2009    2008      2009      2008
                                            ----    ----      ----      ----
                                            (Unaudited)        (Unaudited)
    Net revenue:
       License and other                   $310.0  $446.0  $1,603.4  $1,618.6

       Maintenance                          179.8   153.0     711.8     553.3
                                            -----   -----     -----     -----

          Total net revenue                 489.8   599.0   2,315.2   2,171.9
                                            -----   -----   -------   -------

    Cost of license and other revenue        46.0    48.7     210.2     199.1

    Cost of maintenance revenue               2.5     2.2       8.9       8.6
                                              ---     ---       ---       ---

       Total cost of revenue                 48.5    50.9     219.1     207.7

       Gross margin                         441.3   548.1   2,096.1   1,964.2

    Operating Expenses:

       Marketing and sales                  218.0   243.8     900.7     847.7

       Research and development             138.7   134.3     576.1     490.5

       General and administrative            49.3    45.9     205.7     180.4

       Impairment of goodwill and
        intangibles                         128.9       -     128.9         -

       Restructuring                         40.2       -      40.2         -
                                             ----     ---      ----       ---

          Total operating expenses          575.1   424.0   1,851.6   1,518.6
                                            -----   -----   -------   -------

    Income (loss) from operations          (133.8)  124.1     244.5     445.6

    Interest and other income (expense),
     net                                     (1.8)    6.8       8.0      24.4
                                             ----     ---       ---      ----

    Income (loss) before income taxes      (135.6)  130.9     252.5     470.0

    Income tax (provision) benefit           30.3   (34.4)    (68.9)   (113.8)
                                             ----   -----     -----    ------

    Net income (loss)                     $(105.3)  $96.5    $183.6    $356.2
                                          =======   =====    ======    ======

    Basic net income (loss) per share      $(0.47)  $0.42     $0.81     $1.55
                                           ======   =====     =====     =====

    Diluted net income (loss) per share    $(0.47)  $0.40     $0.80     $1.47
                                           ======   =====     =====     =====

    Shares used in computing basic
        net income (loss) per share         226.3   230.2     225.5     230.3
                                            =====   =====     =====     =====

    Shares used in computing diluted
        net income (loss) per share         226.3   239.4     230.1     242.0
                                            =====   =====     =====     =====



    Autodesk, Inc.
    Condensed Consolidated Balance Sheets
    (In millions)

                                                      January 31,  January 31,
                                                           2009         2008
                                                           ----         ----
                                                      (Unaudited)
    ASSETS:

    Current assets:
      Cash and cash equivalents                            $917.6       $917.9
      Marketable securities                                  63.5         31.4
      Accounts receivable, net                              316.5        386.5
      Deferred income taxes                                  31.1         98.1
      Prepaid expenses and other current assets              59.3         47.9
                                                             ----         ----
    Total current assets                                  1,388.0      1,481.8
                                                          -------      -------

    Marketable securities                                     7.6          8.4
    Computer equipment, software, furniture and
     leasehold improvements, net                            120.6         80.2
    Purchased technologies, net                             113.3         64.4
    Goodwill                                                542.5        443.4
    Deferred income taxes, net                              125.7         54.6
    Other assets                                            123.0         79.4
                                                            -----         ----
                                                         $2,420.7     $2,212.2
                                                         ========     ========


    LIABILITIES AND STOCKHOLDERS' EQUITY:

    Current liabilities:
      Accounts payable                                      $62.4        $79.3
      Accrued compensation                                  124.3        146.2
      Accrued income taxes                                   16.7         14.4
      Deferred revenue                                      438.8        400.7
      Borrowings under line of credit                        52.1            -
      Other accrued liabilities                             105.8         89.7
                                                            -----         ----
    Total current liabilities                               800.1        730.3
                                                            -----        -----

    Deferred revenue                                        113.3        105.4
    Long term income taxes payable                          116.9         86.5
    Long term deferred income taxes                          22.7          3.3
    Other liabilities                                        57.0         56.2

    Commitments and contingencies

    Stockholders' equity:
      Preferred stock                                           -            -
      Common stock and additional paid-in capital         1,080.4        998.3
      Accumulated other comprehensive income (loss)         (11.2)        13.8
      Retained earnings                                     241.5        218.4
                                                            -----        -----
    Total stockholders' equity                            1,310.7      1,230.5
                                                          -------      -------
                                                         $2,420.7     $2,212.2
                                                         ========     ========



    Autodesk, Inc.
    Condensed Consolidated Statements of Cash Flows
    (In millions)
                                                           Fiscal Year Ended
                                                              January 31,
                                                            ---------------
                                                            2009       2008
                                                            ----       ----
                                                              (Unaudited)
    Operating Activities
      Net income                                           $183.6     $356.2
      Adjustments to reconcile net income to net cash
       provided by operating activities:
           Depreciation and amortization                     91.8       61.3
           Stock-based compensation expense                  89.5       99.3
           Charge for acquired in-process
            research and development                         26.9        5.5
           Impairment of goodwill and intangibles           128.9          -
           Restructuring related charges, net                38.9          -
           Changes in operating assets and liabilities,
            net of business combinations                     34.2      186.2
                                                             ----      -----
    Net cash provided by operating activities               593.9      708.5
                                                            -----      -----

    Investing Activities
      Purchases of marketable securities                   (118.6)    (727.0)
      Sales of marketable securities                         83.4      799.1
      Business combinations, net of cash acquired          (364.5)    (114.5)
      Capital and other expenditures                        (78.4)     (43.3)
                                                            -----      -----
    Net cash used in investing activities                  (478.1)     (85.7)
                                                           ------      -----

    Financing activities
      Proceeds from borrowings on line of credit            912.4          -
      Repayments of borrowings on line of credit           (860.3)         -
      Proceeds from issuance of common stock,
       net of issuance costs                                 90.1      187.3
      Repurchases of common stock                          (256.6)    (563.0)
                                                           ------     ------
    Net cash used in financing activities                  (114.4)    (375.7)
                                                           ------     ------

    Effect of exchange rate changes on cash and cash
     equivalents                                             (1.7)       4.9
                                                             ----        ---

    Net increase (decrease) in cash and cash equivalents     (0.3)     252.0
    Cash and cash equivalents at beginning of fiscal year   917.9      665.9
                                                            -----      -----
    Cash and cash equivalents at end of period             $917.6     $917.9
                                                           ======     ======



    Autodesk, Inc.
    Reconciliation of GAAP financial measures to non-GAAP financial measures
    (In millions, except per share data)

    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 revenue, non-GAAP gross margin, non-GAAP
    operating expenses, non-GAAP income from operations, non-GAAP interest
    and other income, net 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,
    employee tax reimbursements related to our stock option review,
    in-process research and development expenses, restructuring expenses,
    amortization of purchased intangibles, asset impairment and related
    income tax expenses.  See our reconciliation of GAAP financial measures
    to non-GAAP financial measures herein.  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.

    The following table shows Autodesk's non-GAAP results reconciled to GAAP
    results included in this release.

                                      Three Months Ended   Fiscal Year Ended
                                           January 31,        January 31,
                                          ------------      --------------
                                          2009    2008      2009      2008
                                          ----    ----      ----      ----
                                           (Unaudited)        (Unaudited)

    GAAP cost of license and other
     revenue                              $46.0   $48.7    $210.2    $199.1
    SFAS 123R stock-based compensation
     expense                               (0.5)   (1.2)     (3.6)     (5.0)
    Amortization of developed technology   (7.9)   (3.4)    (23.2)    (10.7)
    Employee tax reimbursements
     related to stock option review           -    (0.1)        -      (1.2)
                                            ---    ----       ---      ----
    Non-GAAP cost of license and other
     revenue                              $37.6   $44.0    $183.4    $182.2
                                          =====   =====    ======    ======

    GAAP gross margin                    $441.3  $548.1  $2,096.1  $1,964.2
    SFAS 123R stock-based compensation
     expense                                0.5     1.2       3.6       5.0
    Amortization of developed technology    7.9     3.4      23.2      10.7
    Employee tax reimbursements
     related to stock option review           -     0.1         -       1.2
                                            ---     ---       ---       ---
    Non-GAAP gross margin                $449.7  $552.8  $2,122.9  $1,981.1
                                         ======  ======  ========  ========

    GAAP marketing and sales             $218.0  $243.8    $900.7    $847.7
    SFAS 123R stock-based compensation
     expense                               (8.6)  (11.8)    (39.2)    (43.1)
    Employee tax reimbursements
     related to stock option review           -    (0.6)        -      (5.4)
                                            ---    ----       ---      ----
    Non-GAAP marketing and sales         $209.4  $231.4    $861.5    $799.2
                                         ======  ======    ======    ======

    GAAP research and development        $138.7  $134.3    $576.1    $490.5
    SFAS 123R stock-based compensation
     expense                               (6.0)   (8.5)    (29.3)    (32.4)
    In-process research and development    (8.9)   (1.9)    (26.9)     (5.5)
    Employee tax reimbursements
     related to stock option review           -    (0.8)        -      (5.2)
                                            ---    ----       ---      ----
    Non-GAAP research and development    $123.8  $123.1    $519.9    $447.4
                                         ======  ======    ======    ======

    GAAP general and administrative       $49.3   $45.9    $205.7    $180.4
    SFAS 123R stock-based compensation
     expense                               (3.6)   (4.7)    (17.5)    (18.8)
    Amortization of customer
     relationships and trademarks          (6.9)   (3.2)    (23.4)     (9.4)
    Employee tax reimbursements
     related to stock option review           -    (0.3)        -      (2.0)
                                            ---    ----       ---      ----
    Non-GAAP general and administrative   $38.8   $37.7    $164.8    $150.2
                                          =====   =====    ======    ======

    GAAP Impairment of goodwill and
     intangibles                         $128.9      $-    $128.9        $-
    Impairment of goodwill and
     intangibles                         (128.9)      -    (128.9)        -
                                         ------       -    ------         -
    Non-GAAP Impairment of goodwill
     and intangibles                         $-      $-        $-        $-
                                            ===     ===       ===       ===

    GAAP Restructuring                    $40.2      $-     $40.2        $-
    Restructuring                         (40.2)      -     (40.2)        -
                                          -----       -     -----         -
    Non-GAAP Restructuring                   $-      $-        $-        $-
                                            ===     ===       ===       ===

    GAAP operating expenses              $575.1  $424.0  $1,851.6  $1,518.6
    SFAS 123R stock-based compensation
     expense                              (18.2)  (25.0)    (86.0)    (94.3)
    Employee tax reimbursements
     related to stock option review           -    (1.7)        -     (12.6)
    Amortization of customer
     relationships and trademarks          (6.9)   (3.2)    (23.4)     (9.4)
    In-process research and development    (8.9)   (1.9)    (26.9)     (5.5)
    Impairment of goodwill and
     intangibles                         (128.9)      -    (128.9)        -
    Restructuring                         (40.2)      -     (40.2)        -
                                          -----     ---     -----       ---
    Non-GAAP operating expenses          $372.0  $392.2  $1,546.2  $1,396.8
                                         ======  ======  ========  ========

    GAAP income (loss) from operations  $(133.8) $124.1    $244.5    $445.6
    SFAS 123R stock-based compensation
     expense                               18.7    26.2      89.6      99.3
    Employee tax reimbursements
     related to stock option review           -     1.8         -      13.8
    Amortization of developed technology    7.9     3.4      23.2      10.7
    Amortization of customer
     relationships and trademarks           6.9     3.2      23.4       9.4
    In-process research and development     8.9     1.9      26.9       5.5
    Impairment of goodwill and
     intangibles                          128.9       -     128.9         -
    Restructuring                          40.2       -      40.2         -
                                           ----     ---      ----       ---
    Non-GAAP income from operations       $77.7  $160.6    $576.7    $584.3
                                          =====  ======    ======    ======

    GAAP interest and other income
     (expense), net                       $(1.8)   $6.8      $8.0     $24.4
    Investment impairment                     -       -         -       4.0
                                            ---     ---       ---       ---
    Non-GAAP interest and other income
     (expense), net                       $(1.8)   $6.8      $8.0     $28.4
                                          =====    ====      ====     =====

    GAAP income tax (provision) benefit   $30.3  $(34.4)   $(68.9)  $(113.8)
    Income tax effect on difference
     between GAAP and non-GAAP total
     costs and expenses at a normalized
     rate                                 (35.9)   (8.8)    (68.0)    (42.4)
                                          -----    ----     -----     -----
    Non-GAAP income tax provision         $(5.6) $(43.2)  $(136.9)  $(156.2)
                                          =====  ======   =======   =======

    GAAP net income (loss)              $(105.3)  $96.5    $183.6    $356.2
    SFAS 123R stock-based compensation
     expense                               18.7    26.2      89.6      99.3
    Employee tax reimbursements
     related to stock option review           -     1.8         -      13.8
    Investment impairment                     -       -         -       4.0
    Amortization of developed technology    7.9     3.4      23.2      10.7
    In-process research and development     8.9     1.9      26.9       5.5
    Amortization of customer
     relationships and trademarks           6.9     3.2      23.4       9.4
    Impairment of goodwill and
     intangibles                          128.9       -     128.9         -
    Restructuring                          40.2       -      40.2         -
    Income tax effect on difference
     between GAAP and non-GAAP total
     costs and expenses at a normalized
     rate                                 (35.9)   (8.8)    (68.0)    (42.4)
                                          -----    ----     -----     -----
    Non-GAAP net income                   $70.3  $124.2    $447.8    $456.5
                                          =====  ======    ======    ======

    GAAP diluted net income (loss)
     per share                           $(0.47)  $0.40     $0.80     $1.47
    SFAS 123R stock-based compensation
     expense                               0.08    0.11      0.39      0.41
    Employee tax reimbursements
     related to stock option review           -    0.01         -      0.06
    Investment impairment                     -       -         -      0.02
    Amortization of developed technology   0.04    0.01      0.10      0.04
    In-process research and development    0.04    0.01      0.12      0.02
    Amortization of customer
     relationships and trademarks          0.03    0.02      0.10      0.04
    Impairment of goodwill and
     intangibles                           0.56       -      0.56         -
    Restructuring                          0.18       -      0.18         -
    Income tax effect on difference
     between GAAP and non-GAAP total
     costs and expenses at a normalized
     rate                                 (0.15)  (0.04)    (0.30)    (0.18)
                                          -----   -----     -----     -----
    Non-GAAP diluted net income per share $0.31   $0.52     $1.95     $1.88
                                          =====   =====     =====     =====

    GAAP diluted shares used in
     per share calculation                226.3   239.4     230.1     242.0
    Impact of SFAS 123R on diluted shares  (0.2)    1.0      (0.4)      1.2
    Shares included in non-GAAP net
     income per share, but excluded
     from GAAP net loss per share as
     they would have been anti-dilutive     3.0       -         -         -
                                           ----     ---      ----       ---
    Non-GAAP diluted shares used in
     per share calculation                229.1   240.4     229.7     243.2
                                          =====   =====     =====     =====



                       Other Supplemental Financial Information (1)
    Fiscal Year
     2009           QTR 1        QTR 2        QTR 3        QTR 4     YTD 2009


    Financial
     Statistics
     (in millions,
     except per
     share data):
    Total net
     revenue         $599         $620         $607         $490       $2,315
        License
         and other
         revenue     $432         $440         $421         $310       $1,603
        Maintenance
         revenue     $167         $180         $186         $180         $712

    Gross Margin -
     GAAP             90%          90%          91%          90%          91%
    Gross Margin -
     Non-GAAP         91%          91%          93%          92%          92%

    GAAP Operating
     Expenses        $421         $441         $415         $575       $1,852
    GAAP Operating
     Margin           20%          19%          23%         -27%          11%
    GAAP Net
     Income (Loss)    $95          $90         $104        $(105)        $184
    GAAP Diluted
     Net Income
     (Loss) Per
     Share          $0.41        $0.39        $0.45       $(0.47)       $0.80

    Non-GAAP
     Operating
     Expenses
     (2)(3)          $394         $396         $385         $372       $1,546
    Non-GAAP
     Operating
     Margin
     (2)(4)           25%          28%          29%          16%          25%
    Non-GAAP
     Net Income
     (2)(5)          $117         $131         $130          $70         $448
    Non-GAAP
     Diluted Net
     Income
     Per Share
     (2)(6)         $0.50        $0.56        $0.56        $0.31        $1.95

    Total Cash and
     Marketable
     Securities      $950         $970         $941         $989         $989
    Days Sales
     Outstanding       51           48           44           59           59
    Capital
     Expenditures     $14          $26          $19          $19          $78
    Cash from
     Operations      $185         $215         $107          $86         $594
    GAAP Depreciation
     and Amortization $17          $22          $25          $27          $92

    Deferred
     Maintenance
     Revenue Balance $474         $488         $433         $475         $475

    Revenue by
     Geography (in
     millions):
    Americas         $191         $203         $216         $172         $782
    Europe           $259         $267         $258         $219       $1,003
    Asia/Pacific     $149         $150         $133          $99         $530

    Revenue by
     Segment (in
     millions):
    Platform
     Solutions and
     Emerging
     Business and
     Other           $278         $270         $269         $201       $1,018
    Architecture,
     Engineering and
     Construction    $129         $144         $134         $118         $525
    Manufacturing
     Solutions       $119         $131         $124         $114         $488
    Media and
     Entertainment    $67          $69          $73          $53         $262
    Other              $6           $6           $7           $4          $22

    Other Revenue
     Statistics:
    % of Total Rev
     from AutoCAD
     and AutoCAD LT   41%          35%          35%          32%          36%
    % of Total Rev
     from 3D design
     products         24%          26%          27%          29%          27%
    % of Total Rev
     from Emerging
     Economies        17%          18%          19%          16%          18%
    Upgrade Revenue
     (in millions)    $61          $58          $41          $34         $194

    Favorable
     (Unfavorable)
     Impact of U.S.
     Dollar
     Translation
     Relative to
     Foreign
     Currencies
     Compared to
     Comparable
     Prior Year
     Period (in
     millions):
    FX Impact
     on Total
     Net Revenue      $41          $42          $18         $(19)         $82
    FX Impact on
     Total Operating
     Expenses        $(14)        $(11)         $(3)         $17         $(11)
    FX Impact on
     Total Net
     Income (Loss)    $27          $31          $15          $(2)         $71

    Gross Margin by
     Segment (in
     millions):
    Platform
     Solutions and
     Emerging
     Business and
     Other           $263         $255         $257         $190         $965
    Architecture,
     Engineering and
     Construction    $119         $133         $126         $109         $487
    Manufacturing
     Solutions       $110         $122         $117         $107         $456
    Media and
     Entertainment    $50          $52          $57          $41         $200
    Unallocated
     amounts          $(1)         $(2)         $(3)         $(6)        $(12)

    Common Stock
     Statistics:
    GAAP Shares
     Out-
     standing 223,616,000  224,528,000  226,248,000  226,354,000  226,354,000
    GAAP Fully
     Diluted
     Weighted
     Average
     Shares
     Out-
     standing 232,607,000  231,078,000  230,364,000  226,299,000  230,068,000
    Shares
     Repurch-
     ased       8,001,000            -            -            -    8,001,000

    Installed
     Base
     Statistics:
    Total
     AutoCAD-
     based
     Installed
     Base       4,377,000    4,431,000    4,491,000    4,551,000    4,551,000
    Stand-alone
     AutoCAD                                                        2,980,000
    AutoCAD
     Mechanical                                                       266,000
    AutoCAD
     Map 3D                                                           281,000
    AutoCAD
     Architecture                                                     577,000
    AutoCAD LT
     Installed
     Base                                                           3,949,000
    Total Inventor
     Installed
     Base         794,000      817,000      841,000      869,000      869,000
    Total
     Maintenance
     Installed
     Base       1,587,000    1,644,000    1,696,000    1,704,000    1,704,000


    (1) Totals may not agree with the sum of the components due to rounding.
    (2) 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 revenue, non-GAAP gross margin, non-GAAP
     operating expenses, non-GAAP income from operations, non-GAAP interest
     and other income, net 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,
     employee tax reimbursements related to our stock option review,
     in-process research and development expenses, restructuring expenses,
     amortization of purchased intangibles, investment impairment and
     related income tax expenses.  See our reconciliation of GAAP financial
     measures to non-GAAP financial measures herein.  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.




    Fiscal Year 2009               QTR 1  QTR 2  QTR 3   QTR 4  YTD 2009

    (3) GAAP Operating Expenses     $421   $441   $415    $575    $1,852
         Stock-based compensation
          expense                    (24)   (22)   (21)    (18)      (87)
         Amortization of customer
          relationships and
          trademarks                  (3)    (6)    (7)     (7)      (24)
         In-process research
          and development              -    (17)    (1)     (9)      (27)
         Restructuring                 -      -      -     (40)      (40)
         Impairment of goodwill
          and intangibles              -      -      -    (129)     (129)
                                     ---    ---    ---    ----      ----
         Non-GAAP Operating
          Expenses                  $394   $396   $385    $372    $1,546

    (4) GAAP Operating Margin         20%    19%    23%    -27%       11%
         Stock-based compensation
          expense                      4%     4%     4%      4%        4%
         Amortization of
          developed technology         1%     1%     1%      2%        1%
         Amortization of customer
          relationships and
          trademarks                   1%     1%     1%      1%        1%
         In-process research
          and development              0%     3%     0%      2%        1%
         Restructuring                 0%     0%     0%      8%        2%
         Impairment of goodwill
          and intangibles              0%     0%     0%     26%        6%
                                     ---    ---    ---     ---       ---
         Non-GAAP Operating Margin    25%    28%    29%     16%       25%

    (5) GAAP Net Income (Loss)       $95    $90   $104   $(105)     $184
         Stock-based compensation
          expense                     25     23    $23      19        90
         Amortization of
          developed technology         4      5     $6       8        23
         Amortization of customer
          relationships and
          trademarks                   3      6     $7       7        24
         In-process research
          and development              -     17     $1       9        27
         Impairment of goodwill
          and intangibles              -      -      -     129       129
         Restructuring                 -      -      -      40        40
         Income tax effect on
          difference between GAAP
          and non-GAAP total costs
          and expenses at a
          normalized rate             (9)   (11)   (12)    (36)      (68)
                                     ---    ---    ---     ---       ---
         Non-GAAP Net Income        $117   $131   $130     $70      $448

    (6) GAAP Diluted Net
         Income (Loss) Per Share   $0.41  $0.39  $0.45  $(0.47)    $0.80
         Stock-based compensation
          expense                   0.11   0.10   0.10    0.08      0.39
         Amortization of
          developed technology      0.01   0.02   0.03    0.04      0.10
         Amortization of customer
          relationships and
          trademarks                0.01   0.03   0.03    0.03      0.10
         In-process research
          and development              -   0.07      -    0.04      0.12
         Impairment of goodwill
          and intangibles              -      -      -    0.56      0.56
         Restructuring                 -      -      -    0.18      0.18
         Income tax effect on
          difference between GAAP
          and non-GAAP total costs
          and expenses at a
          normalized rate          (0.04) (0.05) (0.05)  (0.15)    (0.30)
                                   -----  -----  -----   -----     -----
         Non-GAAP Diluted Net
          Income Per Share         $0.50  $0.56  $0.56   $0.31     $1.95

Web site: http://www.autodesk.com/