8-K/AEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K/A Report, Financial Results (Aug 17, 2009)

Filed August 17, 2009For Securities:ADSK

Summary

This 8-K filing by Autodesk, Inc. (ADSK) on August 17, 2009, serves as an amendment to a previous filing, primarily furnishing the company's press release and prepared remarks detailing its second-quarter fiscal year 2010 financial results, released on August 13, 2009. Investors should note that the company is providing both GAAP and non-GAAP financial measures. The non-GAAP figures exclude items such as stock-based compensation, amortization of purchased intangibles, goodwill impairment, valuation allowances on deferred tax assets, and restructuring charges, which management utilizes for internal budgeting and to facilitate comparisons with peers. Autodesk's management believes these non-GAAP measures offer a more meaningful view of the company's earning potential by removing the impact of certain non-cash and variable expenses that may not reflect ongoing operational performance. Investors are advised to review these non-GAAP measures in conjunction with the company's official GAAP financial statements, as they are not prepared in accordance with generally accepted accounting principles and may differ from how other companies present their non-GAAP results. The filing highlights the company's focus on providing a comprehensive view of its financial performance, acknowledging the limitations of non-GAAP reporting.

Key Highlights

  • 1Autodesk is reporting its second-quarter fiscal year 2010 financial results via a furnished press release and prepared remarks.
  • 2The company is presenting both GAAP and non-GAAP financial results to investors.
  • 3Non-GAAP measures exclude stock-based compensation, amortization of purchased intangibles, goodwill impairment, valuation allowances on deferred tax assets, and restructuring charges.
  • 4Management uses non-GAAP measures for internal budgeting, resource allocation, and to assess earning potential.
  • 5Non-GAAP figures are intended to facilitate comparisons with historical results and competitor performance.
  • 6The filing explicitly states that non-GAAP measures are not prepared in accordance with GAAP and have limitations.
  • 7Investors are directed to review these non-GAAP measures alongside GAAP financial statements for a complete understanding.

Frequently Asked Questions

The primary purpose of this 8-K filing is to furnish Autodesk's press release and prepared remarks that report its financial results for the second quarter ended July 31, 2009. It provides investors with the official details of the company's performance during that period.

Autodesk provides non-GAAP financial measures to offer investors supplemental information that management believes provides a more meaningful view of the company's earning potential. These measures exclude certain expenses like stock-based compensation and amortization of intangibles, which are considered non-cash or variable, allowing for better assessment of ongoing operational performance and easier comparison with historical results and competitors.

Autodesk's non-GAAP financial measures exclude the impact of stock-based compensation (SFAS 123R), amortization of purchased intangibles and in-process R&D, goodwill impairment charges, the establishment of a valuation allowance on certain deferred tax assets, restructuring charges, and related income tax effects.

Autodesk acknowledges that non-GAAP financial measures are not prepared in accordance with GAAP, may differ from those used by other companies, and exclude items that could materially impact reported results. Therefore, they should not be considered in isolation or as a substitute for GAAP measures, but rather as a supplement to them.