8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 23, 2012)

Filed February 23, 2012For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 23, 2012, to report its financial results for the fourth quarter and fiscal year ended January 31, 2012. The filing primarily serves to furnish a press release and prepared remarks detailing these results. Investors should note that the company is presenting both GAAP and non-GAAP financial measures, with a significant portion of the filing dedicated to explaining the nature and rationale behind the non-GAAP adjustments. These adjustments exclude items such as stock-based compensation, amortization of purchased intangibles, restructuring charges, and discrete tax items, which management believes provide a more meaningful view of the company's earning potential and facilitate comparison with historical results and competitors.

Key Highlights

  • 1Autodesk reported financial results for the fourth quarter and full fiscal year 2012 via press release and prepared remarks furnished with the 8-K.
  • 2The company provided both GAAP and non-GAAP financial measures to investors.
  • 3A detailed explanation of the non-GAAP adjustments is provided, including stock-based compensation, amortization of purchased intangibles, restructuring charges, and discrete tax items.
  • 4Management uses non-GAAP measures for internal budgeting, resource allocation, and assessing operating expenses, believing they offer supplemental insight into earning potential.
  • 5The non-GAAP measures are intended to facilitate comparisons to historical results and competitor performance.
  • 6Autodesk emphasizes that non-GAAP measures are not a substitute for GAAP, have limitations, and should be viewed in conjunction with GAAP financial statements.
  • 7The filing includes exhibits of the press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) for detailed financial information.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report and provide access to Autodesk's financial results for the fourth quarter and the full fiscal year ended January 31, 2012, through accompanying press release and prepared remarks.

Autodesk presents non-GAAP financial measures because management believes these metrics, by excluding items like stock-based compensation, amortization of intangibles, and restructuring charges, offer a more meaningful view of the company's ongoing earning potential and facilitate comparisons to historical performance and industry peers.

The key items excluded are stock-based compensation expenses, amortization of purchased intangibles and technology, restructuring charges, discrete tax items, and the income tax effects on the difference between GAAP and non-GAAP costs and expenses.

No, investors should not rely solely on non-GAAP measures. Autodesk states that these measures have limitations, are not prepared in accordance with GAAP, and are meant to supplement, not replace, the directly comparable GAAP financial measures. Investors are encouraged to review both GAAP and non-GAAP information provided.