8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 27, 2007)

Filed February 27, 2007For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 27, 2007, to report its financial results for the fourth quarter and full fiscal year ended January 31, 2007. The filing highlights record revenues for the period, a key indicator of the company's growth trajectory. Investors should note the company's detailed explanation and use of non-GAAP financial measures, which management employs for internal budgeting and to provide a clearer view of operational potential by excluding items such as stock-based compensation, amortization of purchased intangibles, and certain tax-related payments stemming from their stock option review. The press release, incorporated by reference, provides further details on these results and the specific methodologies behind the non-GAAP adjustments. The company emphasizes that these non-GAAP measures are supplemental to GAAP results and are intended to facilitate comparisons with competitors' guidance. Investors are encouraged to review both GAAP and non-GAAP figures to gain a comprehensive understanding of Autodesk's financial performance and operational health.

Key Highlights

  • 1Autodesk reported record revenues of $497 million for the fourth quarter and fiscal year ended January 31, 2007.
  • 2The 8-K filing includes selected financial results for the fourth quarter and full fiscal year.
  • 3The company utilizes non-GAAP financial measures, including future non-GAAP operating margins, for internal decision-making and investor communication.
  • 4Key exclusions from non-GAAP measures include stock-based compensation (SFAS 123R), amortization of purchased intangibles, and certain tax reimbursements related to stock option reviews.
  • 5Management believes non-GAAP measures offer a meaningful supplemental view of operational potential and aid in comparing performance with competitors.
  • 6The filing incorporates by reference a press release dated February 27, 2007, which contains detailed financial information and explanations of non-GAAP measures.
  • 7The company acknowledges the limitations of non-GAAP measures and advises investors to consider them alongside GAAP financial statements.

Frequently Asked Questions

The primary financial result highlighted in this 8-K is Autodesk's record revenue of $497 million for the three months and fiscal year ended January 31, 2007. The filing, which incorporates a press release, provides selected financial results for this period.

Autodesk uses non-GAAP financial measures, such as non-GAAP operating margins, to provide investors with supplemental information that management believes offers a meaningful view of the company's operational potential. These measures are used internally for budgeting and resource allocation and help facilitate comparisons with competitors' guidance. They exclude certain items that management deems non-operational or non-recurring.

Autodesk excludes three main categories of expenses from its non-GAAP measures: (a) stock-based compensation expenses related to SFAS 123R, (b) amortization of purchased intangibles and in-process research and development expenses (often related to acquisitions like Alias), and (c) certain payments to employees for tax issues arising from the company's voluntary stock option review. These are generally considered non-cash or non-recurring items.

Investors should view Autodesk's non-GAAP financial measures as supplemental information to their GAAP financial statements. The company itself states that these measures are not prepared in accordance with GAAP and may differ from those used by other companies. They should be reviewed in conjunction with, and not as a substitute for, GAAP results to get a comprehensive understanding of the company's financial performance.