8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 17, 2007)

Filed May 17, 2007For Securities:ADSK

Summary

This 8-K filing by Autodesk, Inc. on May 17, 2007, primarily announces its financial results for the three months ended April 30, 2007, via a furnished press release (Exhibit 99.1). The press release details record revenues of $509 million for the period, signaling strong top-line performance. Investors should note the company's use of non-GAAP financial measures, which exclude items such as stock-based compensation, amortization of purchased intangibles, and certain stock option-related tax reimbursements. Autodesk's management utilizes these non-GAAP measures, including future non-GAAP operating margins, for internal decision-making, budgeting, and resource allocation, believing they offer a meaningful view of operational potential and facilitate comparisons with competitors. The filing explicitly outlines the rationale for excluding these specific items, emphasizing their non-cash or non-recurring nature. Investors are encouraged to review the accompanying press release for a comprehensive understanding, particularly for the detailed reconciliation between GAAP and non-GAAP figures.

Key Highlights

  • 1Autodesk reported record revenues of $509 million for the three months ended April 30, 2007.
  • 2The company is furnishing a press release (Exhibit 99.1) containing its financial results for the period.
  • 3Autodesk utilizes non-GAAP financial measures to supplement its GAAP reporting.
  • 4Key exclusions in non-GAAP measures include stock-based compensation (SFAS 123R), amortization of purchased intangibles, and certain stock option review-related employee tax reimbursements.
  • 5Management uses non-GAAP measures for internal budgeting, resource allocation, and operational assessment.
  • 6The non-GAAP measures are presented to facilitate comparisons with industry competitors.
  • 7The filing emphasizes that non-GAAP measures are supplemental and should be viewed alongside GAAP results.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and provide financial results for Autodesk, Inc. for the first quarter of fiscal year 2008 (ended April 30, 2007), as detailed in the press release furnished as Exhibit 99.1.

The key financial takeaway highlighted is Autodesk's achievement of record revenues totaling $509 million for the three months ended April 30, 2007. The filing also indicates the use of non-GAAP financial measures.

Autodesk provides non-GAAP financial measures to offer investors a clearer view of its operational potential and to facilitate comparisons with competitors. Management uses these measures, which exclude items like stock-based compensation, amortization of intangibles, and certain stock option-related tax reimbursements, for internal budgeting and operational decision-making.

The non-GAAP financial measures exclude: (a) stock-based compensation expenses related to SFAS 123R, (b) amortization of purchased intangible assets and in-process research and development expenses (often related to acquisitions like Alias), and (c) certain payments to employees for tax issues arising from Autodesk's voluntary stock option review.