8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Aug 22, 2013)

Filed August 22, 2013For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on August 22, 2013, to report its financial results for the second quarter ended July 31, 2013. The filing includes a press release and prepared remarks that detail the company's performance. A significant portion of the report is dedicated to explaining Autodesk's use of non-GAAP financial measures, which exclude items such as stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments. Management utilizes these non-GAAP measures to provide a clearer view of the company's core business operations and performance, believing they offer meaningful supplemental information for evaluating earning potential and making period-to-period comparisons. Autodesk emphasizes that these non-GAAP figures are presented alongside GAAP results and are intended to enhance transparency for investors and the analyst community, aiding in the assessment of the business's health and long-term performance.

Key Highlights

  • 1Autodesk reported its financial results for the second quarter ended July 31, 2013, via an 8-K filing on August 22, 2013.
  • 2The company furnished a press release and prepared remarks as exhibits to the 8-K.
  • 3The filing extensively details Autodesk's use of non-GAAP financial measures.
  • 4Non-GAAP measures are presented to offer insights into core business operating results and earning potential.
  • 5Key exclusions from GAAP for non-GAAP reporting include stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, and strategic investment gains/losses.
  • 6Autodesk believes these non-GAAP metrics enhance transparency and aid investors in comparing performance across periods and with peers.
  • 7The company advises investors to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financial statements.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Autodesk's financial results for the second quarter ended July 31, 2013. It includes a press release and prepared remarks that provide details on the company's performance for the period.

Autodesk uses non-GAAP financial measures to provide supplemental information that management believes offers greater transparency into the company's core business operations and earning potential. These measures exclude certain items that management deems not indicative of ongoing business results, such as stock-based compensation and amortization of purchased intangibles, allowing for better period-to-period comparisons and assessment of core business performance.

Key items excluded from Autodesk's non-GAAP financial measures include stock-based compensation expenses, amortization of purchased intangibles, goodwill impairment charges, restructuring charges (or benefits), gains or losses on strategic investments, and certain discrete tax items. The company also adjusts for the income tax effects related to these exclusions.

Autodesk advises investors to view its non-GAAP financial information as supplemental to, and not as a substitute for, its GAAP financial statements. Investors are encouraged to review the reconciliation provided by the company to understand how non-GAAP measures are derived from GAAP and to consider a comprehensive analysis of both GAAP and non-GAAP figures when evaluating the business.