8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 20, 2008)

Filed November 20, 2008For Securities:ADSK

Summary

Autodesk, Inc. filed this 8-K on November 20, 2008, to report its financial results for the third quarter of fiscal year 2009, which ended on October 31, 2008. The filing primarily includes a press release detailing these results. Notably, the company provided both GAAP and non-GAAP financial measures, offering insights into its performance while also acknowledging the limitations of non-GAAP reporting. The non-GAAP measures, used by management for internal decision-making and to facilitate comparisons with competitors, exclude items such as stock-based compensation, amortization of purchased intangibles, and certain tax-related expenses. Investors are directed to the press release for a comprehensive understanding of these figures and their reconciliation with GAAP. This report comes at a critical time, with global economic conditions likely impacting business spending. Investors will be keen to understand how Autodesk's performance in Q3 FY2009 reflects its resilience and outlook amidst these challenges. The detailed breakdown of excluded items in the non-GAAP calculations is important for investors to discern the true operational performance versus accounting adjustments. The filing also confirms the filing date and provides signature details of key executives.

Key Highlights

  • 1Autodesk reported its financial results for the third quarter of fiscal year 2009 (ended October 31, 2008) via an 8-K filing on November 20, 2008.
  • 2The filing incorporates by reference a press release (Exhibit 99.1) containing the detailed financial results.
  • 3Autodesk presented both GAAP and non-GAAP financial measures in its earnings release.
  • 4Non-GAAP measures exclude significant items such as stock-based compensation (SFAS 123R), amortization of purchased intangibles, and certain tax-related expenses.
  • 5Management uses non-GAAP measures for internal budgeting, resource allocation, and to facilitate comparisons with competitors.
  • 6The company cautioned that non-GAAP measures are not prepared in accordance with GAAP and have limitations, urging investors to review them in conjunction with GAAP measures.
  • 7The report confirms the incorporation of the press release as an exhibit, providing investors access to the Q3 FY2009 financial performance details.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Autodesk, Inc.'s financial results for the third quarter of fiscal year 2009, which concluded on October 31, 2008. It includes a press release that contains the detailed financial performance information.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) calculations. Autodesk uses non-GAAP measures, such as non-GAAP net earnings and EPS, to provide a clearer view of its operational performance by excluding costs like stock-based compensation and amortization of intangibles, which are considered non-cash or variable. Management uses these to make operating decisions, assess earning potential, and compare results with competitors.

Autodesk excludes several items from its non-GAAP financial measures, including: (a) the impact of stock-based compensation under SFAS 123R, (b) amortization of purchased intangibles and in-process R&D expenses from acquisitions, (c) payments to employees for tax issues related to stock option reviews, (d) investment impairment charges, and (e) the income tax effects related to the differences between GAAP and non-GAAP costs.

The detailed financial results are provided in the press release dated November 20, 2008, which is included as Exhibit 99.1 to this 8-K filing. Investors are encouraged to review this press release for a comprehensive understanding of the financial performance and the reconciliation between GAAP and non-GAAP figures.