8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 17, 2009)

Filed November 17, 2009For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on November 17, 2009, to report its third-quarter fiscal year 2010 financial results. The filing highlights the company's increased profitability for the quarter, a key positive indicator for investors, especially within the economic climate of 2009. The report also details Autodesk's use of non-GAAP financial measures, which exclude items such as stock-based compensation, amortization of intangibles, goodwill impairment, and restructuring charges. Management emphasizes that these non-GAAP figures are used internally to assess earning potential and facilitate comparisons, providing a clearer view of operational performance that management believes is more indicative of ongoing business trends. Investors are advised to consider these non-GAAP measures alongside GAAP results for a comprehensive understanding.

Key Highlights

  • 1Autodesk reported increased profitability for the third quarter of fiscal year 2010.
  • 2The company's Q3 FY2010 results were detailed in a press release and prepared remarks furnished with the filing.
  • 3The report elaborates on Autodesk's use of non-GAAP financial measures, including non-GAAP net earnings and diluted EPS.
  • 4Excluded items from non-GAAP measures include stock-based compensation, amortization of purchased intangibles, goodwill impairment, valuation allowances on deferred tax assets, and restructuring charges.
  • 5Management uses non-GAAP measures to assess earning potential, operational performance, and for budgeting and resource allocation.
  • 6The filing clarifies that non-GAAP measures are supplemental and should be viewed in conjunction with GAAP financial measures.
  • 7Specific financial details and forward-looking guidance would be found within the referenced press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2).

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Autodesk's financial results for the third quarter ended October 31, 2009, and to provide context on how the company uses non-GAAP financial measures.

The most significant takeaway is Autodesk's reported increase in profitability for the third quarter of fiscal year 2010. The filing also introduces non-GAAP financial metrics that management uses to provide a view of operational performance, excluding certain non-cash expenses and charges.

Autodesk uses non-GAAP financial measures, such as non-GAAP net earnings and EPS, to provide a more meaningful view of its earning potential and to facilitate comparisons with historical results and competitors. They exclude items like stock-based compensation, amortization of purchased intangibles, goodwill impairment, valuation allowances on deferred tax assets, and restructuring charges, which management views as either non-cash or not reflective of ongoing operating results.

The non-GAAP figures are intended to supplement, not replace, GAAP financial measures. While management believes they offer valuable insights into operational performance, investors should review them alongside the GAAP results, as they exclude items that can materially impact reported financial results. The filing acknowledges limitations of non-GAAP measures and advises investors to view them in conjunction with GAAP measures.