8-KRegulation FDExhibits & Filings

Autodesk, Inc. 8-K Report, Regulation FD Disclosure (Oct 2, 2013)

Filed October 2, 2013For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on October 2, 2013, to disclose its business outlook for the third and fourth quarters of fiscal year 2014. The primary purpose of this filing is to provide investors with forward-looking financial guidance. The company also detailed its use of non-GAAP financial measures, explaining the rationale behind excluding certain items like stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, valuation allowances on deferred tax assets, and discrete tax items. Autodesk utilizes these non-GAAP measures for internal decision-making and believes they offer greater transparency into the company's core business performance and operational results, allowing for better comparison to peer companies and historical trends. Investors should note that the press release itself, furnished as Exhibit 99.1, contains the specific financial outlook. While Autodesk emphasizes the utility of its non-GAAP metrics for assessing ongoing operational health and management's perspective, it strongly advises investors to consider these alongside GAAP measures and to review the provided reconciliations. This filing is crucial for understanding Autodesk's near-term financial expectations and the company's methodology for reporting its performance.

Key Highlights

  • 1Autodesk provided its business outlook for Q3 and Q4 of fiscal year 2014.
  • 2The company furnished a press release (Exhibit 99.1) containing this financial guidance.
  • 3Autodesk detailed its use of non-GAAP financial measures to supplement GAAP reporting.
  • 4Key exclusions from non-GAAP measures include stock-based compensation and amortization of purchased intangibles.
  • 5Other excluded items from non-GAAP calculations are goodwill impairment, restructuring charges, strategic investment gains/losses, and certain tax-related items.
  • 6Autodesk believes non-GAAP measures offer better insight into core business performance and facilitate comparisons.
  • 7The company stressed that non-GAAP measures are supplemental and investors should review GAAP measures and reconciliations.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose Autodesk's business outlook for the third and fourth quarters of fiscal year 2014. It also serves to explain the company's methodology for using and presenting non-GAAP financial measures to investors.

Autodesk typically excludes stock-based compensation expenses, amortization of purchased intangibles, goodwill impairment charges, restructuring charges, gains or losses on strategic investments, and certain discrete tax items and valuation allowances on deferred tax assets.

Autodesk uses non-GAAP financial measures to provide a more transparent view of its core business operations and performance. They are used internally for budgeting and evaluation, and the company believes they help investors understand results in a similar manner to management, allowing for better period-to-period comparisons and analysis against peer companies.

No, Autodesk strongly advises investors not to rely solely on non-GAAP financial measures. They are presented as supplemental information to GAAP measures. Investors should review the reconciliations provided by the company to understand the differences between GAAP and non-GAAP figures and consider both sets of measures when evaluating Autodesk's financial health.