8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 24, 2011)

Filed February 24, 2011For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 24, 2011, to report its financial results for the fourth quarter and full fiscal year ended January 31, 2011. The filing primarily references an accompanying press release and prepared remarks which contain the detailed financial information. Investors should note that the company provides both GAAP and non-GAAP financial measures. The company emphasizes its use of non-GAAP measures, which exclude items such as stock-based compensation, amortization of purchased intangibles, goodwill impairment, and restructuring charges. Autodesk's management believes these non-GAAP metrics offer a more meaningful view of the company's earning potential and facilitate comparisons with historical results and competitors, aiding in budgeting and forecasting. However, investors are cautioned that these non-GAAP measures are not prepared in accordance with GAAP and should be reviewed in conjunction with, not as a substitute for, the GAAP financial statements.

Key Highlights

  • 1Autodesk reported its Q4 and full fiscal year 2011 financial results on February 24, 2011.
  • 2The 8-K filing primarily incorporates by reference a press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) containing the detailed financial results.
  • 3The company provides both GAAP and non-GAAP financial reporting measures to investors.
  • 4Management utilizes non-GAAP financial measures to assess operational performance and for internal decision-making.
  • 5Key exclusions from non-GAAP measures include stock-based compensation, amortization of intangibles, goodwill impairment, and restructuring charges.
  • 6Autodesk states that non-GAAP measures help in assessing earning potential and comparing results to peers.
  • 7Investors are advised to consider non-GAAP measures alongside, and not as a replacement for, GAAP financial results.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Autodesk's financial results for the fourth quarter and the full fiscal year ended January 31, 2011. It includes references to the press release and prepared remarks where the detailed financial information is presented.

Autodesk uses non-GAAP financial measures, which exclude certain items like stock-based compensation, amortization of intangibles, goodwill impairment, and restructuring charges. Management uses these measures because they believe they provide a more meaningful view of the company's earning potential and help in assessing operational performance, budgeting, and forecasting, as well as facilitating comparisons with competitors.

The main difference is that non-GAAP measures exclude specific expenses that management considers to be non-operational, non-cash, or not reflective of ongoing results. These exclusions include stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, and certain tax adjustments. GAAP measures include all these items.

Investors should be aware that Autodesk provides both GAAP and non-GAAP financial results. While non-GAAP measures offer supplemental insights, they are not prepared in accordance with Generally Accepted Accounting Principles (GAAP) and may differ from measures used by other companies. It is crucial for investors to review these non-GAAP measures in conjunction with the company's official GAAP financial statements and consider the disclosures provided in the press release and prepared remarks.