8-K/AEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K/A Report, Financial Results (Aug 27, 2009)

Filed August 27, 2009For Securities:ADSK

Summary

This 8-K/A filing from Autodesk, Inc. provides an amendment related to their second quarter fiscal 2010 financial results, announced on August 13, 2009. The core of this filing is the furnishing of a press release and prepared remarks that detail the company's performance and outlook. Investors should note that the company presented both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. The non-GAAP measures are emphasized as a tool management uses for internal decision-making, budgeting, and comparing performance against historical results and competitors. These measures exclude specific items such as stock-based compensation, amortization of acquired intangibles, goodwill impairment, valuation allowances on deferred tax assets, and restructuring charges. While management believes these non-GAAP figures offer supplemental insights into earning potential, investors are cautioned that these are not prepared in accordance with GAAP and may differ from how other companies present their non-GAAP results. A thorough review of the provided GAAP financials alongside the non-GAAP information is recommended.

Key Highlights

  • 1Autodesk announced its second quarter fiscal 2010 financial results on August 13, 2009.
  • 2The filing includes a press release and prepared remarks detailing the financial performance for the period ended July 31, 2009.
  • 3The company provided both GAAP and non-GAAP financial results, offering investors multiple perspectives on performance.
  • 4Non-GAAP measures are presented to aid in assessing earning potential, comparing historical results, and for management's internal budgeting and decision-making.
  • 5Key exclusions from non-GAAP measures include stock-based compensation, amortization of purchased intangibles, goodwill impairment, valuation allowances on deferred tax assets, and restructuring charges.
  • 6Investors are advised to consider the limitations of non-GAAP measures and review them in conjunction with the company's GAAP financial statements.
  • 7The filing notes that the provided exhibits are furnished, not deemed 'filed' for specific sections of the Securities Exchange Act of 1934 unless expressly incorporated by reference.

Frequently Asked Questions

The primary purpose of this 8-K filing (specifically an amendment, 8-K/A) is to furnish Autodesk's press release and prepared remarks from August 13, 2009, which report the company's financial results for the second quarter of fiscal year 2010.

Autodesk provided non-GAAP financial measures to offer supplemental information to investors. Management uses these measures internally for budgeting, resource allocation, and to assess the company's earning potential and operational performance, believing they provide a more meaningful view by excluding certain non-cash or variable expenses like stock compensation and amortization of intangibles. These measures also facilitate comparisons with historical results and competitors.

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

Investors should be aware that non-GAAP financial measures are not prepared in accordance with GAAP and may differ from those used by other companies. They are intended to supplement, not replace, GAAP measures. Investors should review these non-GAAP figures in conjunction with Autodesk's official GAAP financial statements and understand the specific items that are excluded, as these excluded items can have a material impact on reported financial results.