8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Aug 12, 2010)

Filed August 12, 2010For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on August 12, 2010, to report its financial results for the second quarter ended July 31, 2010. The filing includes a press release and prepared remarks that provide details on the company's performance during the quarter. Notably, Autodesk utilizes and provides non-GAAP financial measures alongside GAAP results to offer investors a clearer view of its underlying operational performance and earning potential. These non-GAAP measures exclude several significant items, including stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, and certain tax-related items. The company explains that excluding these items helps management in budgeting, planning, and forecasting by presenting a more consistent view of operating expenses and earnings, facilitating comparisons with historical results and competitors. Investors are advised to review both GAAP and non-GAAP figures and understand the definitions and limitations of these alternative measures.

Key Highlights

  • 1Autodesk reported its financial results for the second quarter ended July 31, 2010, via an 8-K filing.
  • 2The filing includes a press release and prepared remarks detailing the company's Q2 performance.
  • 3Autodesk provides both GAAP and non-GAAP financial measures to investors.
  • 4Non-GAAP measures exclude items such as stock-based compensation and amortization of purchased intangibles.
  • 5The company's management uses non-GAAP measures for internal budgeting, resource allocation, and operational decision-making.
  • 6The use of non-GAAP measures aims to provide a better understanding of Autodesk's earning potential and facilitate historical and competitor comparisons.
  • 7Investors are encouraged to review the provided GAAP and non-GAAP measures in conjunction with each other and understand their limitations.

Frequently Asked Questions

This 8-K filing serves to report Autodesk's financial results for the second quarter ended July 31, 2010. It includes a press release and prepared remarks that contain detailed information about the company's financial performance during that period.

Autodesk uses non-GAAP financial measures, such as non-GAAP net earnings and earnings per share, to supplement its GAAP results. These measures exclude certain items like stock-based compensation, amortization of purchased intangibles, goodwill impairment, and restructuring charges. The company uses them because management believes they provide meaningful supplemental information about Autodesk's earning potential, facilitate comparisons with historical results and competitors, and aid in internal budgeting and operational decision-making by excluding volatile or non-cash items.

Autodesk excludes several items from its non-GAAP measures, including: (a) stock-based compensation expenses, (b) amortization of purchased intangibles and technology, (c) goodwill impairment, (d) restructuring charges, (e) establishment of a valuation allowance on certain net deferred tax assets, (f) discrete tax items, and (g) the income tax effects related to the differences between GAAP and non-GAAP costs.

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 have limitations because they exclude items that could materially impact reported results. Autodesk emphasizes that these non-GAAP measures should be viewed in conjunction with, and not as a substitute for, its GAAP financial measures. Investors are encouraged to review the explanations and definitions provided in the press release and prepared remarks.