8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 21, 2013)

Filed November 21, 2013For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on November 20, 2013, to report its third-quarter financial results for the period ending October 31, 2013. The filing primarily consists of furnished exhibits containing the company's press release and prepared remarks detailing these results. Investors should note that Autodesk, in addition to providing GAAP financial measures, also presents non-GAAP financial measures. These non-GAAP measures are used by management for internal decision-making and to evaluate performance, excluding items such as stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, and certain tax-related adjustments. The company emphasizes that these non-GAAP measures are intended to offer greater transparency into key metrics used by management and to facilitate comparisons across periods and with peer companies. They are presented to supplement, not replace, GAAP financial statements, and investors are encouraged to review the reconciliation between GAAP and non-GAAP figures provided in the accompanying materials. The core purpose of this 8-K is to furnish these financial results and explanations of their reporting methodologies to the public.

Key Highlights

  • 1Autodesk reported its financial results for the third quarter ended October 31, 2013, via a furnished press release and prepared remarks.
  • 2The company utilizes and provides non-GAAP financial measures to supplement its GAAP reporting, aiming for greater transparency and comparability.
  • 3Key exclusions in non-GAAP measures include stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments.
  • 4Autodesk uses these non-GAAP measures for internal budgeting, resource allocation, and performance evaluation.
  • 5The filing highlights that non-GAAP measures are intended to reflect the core business's operating results and earning potential.
  • 6Investors are advised that non-GAAP measures have limitations and should be considered alongside, not as a substitute for, GAAP financial measures.
  • 7The 8-K explicitly incorporates the press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) by reference for detailed financial information.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Autodesk's financial results for the third quarter ended October 31, 2013. It includes furnished exhibits (press release and prepared remarks) that detail these results and explain the company's use of non-GAAP financial measures.

Autodesk presents non-GAAP financial measures to provide investors with supplemental information that management uses for evaluating performance. These measures are intended to offer greater transparency into key metrics used in financial and operational decision-making, exclude certain expenses that may not be indicative of core business operations, and allow for better comparison across accounting periods and with peer companies.

Key items excluded from Autodesk's non-GAAP financial measures typically include stock-based compensation expenses, amortization of purchased intangibles, goodwill impairment, restructuring charges, and gains or losses on strategic investments. Specific tax-related adjustments are also often excluded.

No, Autodesk explicitly states that non-GAAP financial measures are not a substitute for, or should be considered in isolation from, the comparable GAAP financial measures. Investors are urged to review the reconciliation between GAAP and non-GAAP measures provided in the accompanying exhibits and to not rely on any single financial measure.