10-KPeriod: FY2012

Autodesk, Inc. Annual Report, Year Ended Jan 31, 2012

Filed March 15, 2012For Securities:ADSK

Summary

Autodesk's 2012 10-K filing reveals a company demonstrating solid revenue growth and improving profitability, driven by increases across its product segments and geographic regions. The company saw a notable 14% increase in net revenue, reaching $2.22 billion, with strong performance in both license and maintenance revenue. This growth was supported by strategic acquisitions and continued investment in product development, particularly in its 'suites' offerings which saw a significant 31% revenue increase. Management expressed optimism for future growth, projecting a 10% revenue increase for fiscal year 2013 and an improvement in operating margins. The company's strategy emphasizes leading the industry's transition to cloud, mobile, and social computing while continuing to strengthen its core desktop software business. Autodesk's financial health appears robust, with ample cash reserves and a consistent focus on returning value to shareholders through its stock repurchase program. However, the company acknowledges risks related to global economic uncertainty, intense competition, and the need for continuous innovation in the rapidly evolving technology landscape.

Financial Highlights

50 data points
Beta

Revenue

$2.22B

89.7% Gross Margin

Net Income

$285.30M

12.9% Net Margin

EPS (Diluted)

$1.22

Total Assets

$3.23B

Cash & Equivalents

$1.16B

Free Cash Flow

$573.50M

Financial Statements
Beta
Revenue$2.22B
Cost of Revenue$229.10M
Gross Profit$1.99B
R&D Expenses$566.50M
Operating Expenses$1.63B
Operating Income$355.60M
Net Income$285.30M
EPS (Basic)$1.25
EPS (Diluted)$1.22
Shares Outstanding (Basic)227.70M
Shares Outstanding (Diluted)233.30M

Key Highlights

  • 1Net revenue increased by 14% to $2.22 billion in fiscal year 2012.
  • 2Income from operations grew by 31% year-over-year, indicating improved profitability.
  • 3Revenue from 'Suites' products increased by a substantial 31%, highlighting a successful product strategy.
  • 4The company continues to expand its international presence, with emerging economies showing strong growth.
  • 5Autodesk completed several strategic acquisitions during the year to bolster its product portfolio and technology offerings.
  • 6The company repurchased 9.7 million shares of its common stock in fiscal year 2012.
  • 7Strong cash generation from operations and a healthy cash balance provide financial flexibility.

Frequently Asked Questions

Autodesk demonstrated strong financial performance in fiscal year 2012, with net revenue increasing by 14% to $2.22 billion. Income from operations also saw a significant rise of 31%, indicating improved profitability. This growth was broad-based across product segments and geographic regions.

Revenue growth was driven by increases in both new seat licenses and maintenance revenue. The 'Suites' product line, in particular, showed robust growth of 31%. Autodesk anticipates continued growth in fiscal year 2013, projecting a 10% increase in net revenue and further improvement in operating margins.

Autodesk's strategy focuses on leading the industry's transition towards cloud, mobile, and social computing while continuing to invest in and grow its core desktop software business. The company is also actively pursuing strategic acquisitions to enhance its technology portfolio and expand its market reach.

Autodesk actively repurchases its common stock. In fiscal year 2012, the company repurchased approximately 9.7 million shares. This program helps offset dilution from employee stock plans and returns excess cash to stockholders. The company does not currently pay dividends and anticipates continuing this policy for the foreseeable future.