8-KEarnings & ResultsRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Apr 24, 2008)

Filed April 24, 2008For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on April 24, 2008, primarily to announce updates to its earnings estimates for fiscal year 2009, including the first and second quarters. The company also reported on its stock repurchase activities from the first quarter of fiscal 2009. This filing is significant as it provides forward-looking guidance to investors, allowing them to assess the company's performance expectations and capital allocation strategies. The report highlights Autodesk's use of non-GAAP financial measures to supplement its GAAP reporting. These non-GAAP measures exclude stock-based compensation expenses (SFAS 123R) and the amortization of purchased intangibles and in-process research and development, which management uses for internal planning and to facilitate comparisons with competitors. Investors should carefully review these adjustments as they may materially impact reported results and are not prepared under standard GAAP.

Key Highlights

  • 1Autodesk provided updated earnings estimates for Q1 FY2009, Q2 FY2009, and the full fiscal year 2009.
  • 2The company reported on its stock repurchase activities conducted during the first quarter of fiscal 2009.
  • 3The filing incorporates a press release, which is furnished as Exhibit 99.1.
  • 4Autodesk utilizes non-GAAP financial measures, excluding stock-based compensation and amortization of intangibles/in-process R&D, for internal management and reporting.
  • 5Management believes these non-GAAP measures offer meaningful insights into earning potential and facilitate competitor comparisons.
  • 6The company acknowledges the limitations of non-GAAP measures and emphasizes their use in conjunction with GAAP reporting.

Frequently Asked Questions

Autodesk updated its earnings estimates for the first quarter, second quarter, and the full fiscal year 2009. The company also disclosed its stock repurchase activities during the first quarter of fiscal 2009.

Autodesk uses non-GAAP measures, which exclude stock-based compensation and amortization of purchased intangibles/in-process R&D, to supplement its GAAP reporting. Management uses these measures for internal budgeting, resource allocation, and to assess operating performance, believing they provide meaningful insights into earning potential and aid in comparing results to competitors.

Autodesk's non-GAAP financial measures exclude two main categories: (a) stock-based compensation expenses related to SFAS 123R and (b) amortization of purchased intangible assets and charges for in-process research and development, often related to acquisitions.

Investors should view Autodesk's non-GAAP financial measures as supplemental to, and not a substitute for, GAAP measures. These non-GAAP figures may differ from those used by other companies and exclude items that could materially impact reported results. It is crucial to review these measures in conjunction with the company's GAAP financial statements and disclosures.