8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 16, 2013)

Filed May 16, 2013For Securities:ADSK

Summary

This 8-K filing from Autodesk, Inc. on May 16, 2013, primarily serves to furnish the company's first-quarter 2013 earnings press release and prepared remarks. These documents report on the financial results for the quarter ended April 30, 2013. A key focus of the filing is the detailed explanation of Autodesk's use of non-GAAP financial measures, which management utilizes for internal decision-making and to provide a clearer view of operational performance. Investors should note that Autodesk supplements its GAAP results with non-GAAP metrics that exclude items such as stock-based compensation, amortization of acquired intangibles, restructuring charges, gains/losses on investments, and discrete tax items. The company believes these non-GAAP measures offer meaningful insights into earning potential and facilitate comparisons with peers. However, it's crucial for investors to understand the limitations of these non-GAAP measures and to review them in conjunction with the company's official GAAP financial statements.

Key Highlights

  • 1Autodesk reported financial results for its first quarter ended April 30, 2013, via a furnished press release and prepared remarks.
  • 2The company utilizes non-GAAP financial measures to supplement its GAAP reporting.
  • 3Key exclusions from non-GAAP measures include stock-based compensation expenses, amortization of purchased intangibles, restructuring charges, and gains/losses on strategic investments.
  • 4Management believes non-GAAP measures provide a more meaningful view of operational performance and aid in budgeting and forecasting.
  • 5The non-GAAP measures are intended to facilitate comparisons with historical results and those of competitors.
  • 6Autodesk emphasizes that non-GAAP measures have limitations and should be considered alongside GAAP results.
  • 7The filing includes exhibits containing the press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2).

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report and furnish Autodesk's press release and prepared remarks detailing its financial results for the first quarter ended April 30, 2013. It also provides a detailed explanation of the non-GAAP financial measures the company uses.

Autodesk uses non-GAAP financial measures because management believes they offer a more meaningful view of the company's earning potential by excluding certain non-operational or variable expenses such as stock-based compensation, amortization of acquired intangibles, restructuring charges, and investment gains/losses. These measures are also used internally for budgeting and resource allocation and to facilitate comparisons with competitors.

Autodesk excludes several key items from its GAAP results to arrive at non-GAAP figures. These include: stock-based compensation expenses, amortization of purchased intangibles and technology, restructuring charges, gains and losses on strategic investments, discrete tax items, and the income tax effects related to these excluded items.

The filing acknowledges that non-GAAP measures are not prepared in accordance with GAAP and may differ from those used by other companies. They also exclude items that could materially impact reported financial results. Investors are cautioned to review these non-GAAP measures in conjunction with, and not as a substitute for, the company's GAAP financial statements.