8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 26, 2014)

Filed February 26, 2014For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 26, 2014, to report its financial results for the fourth quarter and full fiscal year ended January 31, 2014. The filing primarily furnished a press release and prepared remarks detailing these results, which are incorporated by reference. A significant portion of the filing is dedicated to explaining Autodesk's use of non-GAAP financial measures, outlining specific adjustments made to GAAP figures, such as excluding stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments. Autodesk emphasizes that these non-GAAP measures are used internally for budgeting, resource allocation, and performance evaluation, and are provided to investors to offer greater transparency into key metrics management uses. The company believes these non-GAAP metrics allow for better comparisons across periods and with peers, providing insights into the core business's earning potential and long-term performance. Investors are advised to consider these non-GAAP figures alongside the comparable GAAP measures and review the provided reconciliations.

Key Highlights

  • 1Autodesk reported its Q4 and full fiscal year 2014 financial results on February 26, 2014.
  • 2The 8-K filing includes furnished press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) with detailed financial information.
  • 3The company extensively explains its use of non-GAAP financial measures, providing justification for their utility to management and investors.
  • 4Key exclusions from GAAP to arrive at non-GAAP figures include stock-based compensation, amortization of purchased intangibles, goodwill impairment, and restructuring charges.
  • 5Autodesk uses non-GAAP measures to assess core business performance, aid in budgeting, and facilitate comparisons across periods and with industry peers.
  • 6Investors are encouraged to review the reconciliations between GAAP and non-GAAP measures provided in the furnished documents.
  • 7The filing explicitly states that the furnished exhibits are not deemed 'filed' for Section 18 purposes unless specifically referenced in a filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Autodesk's financial results for the fourth quarter and the full fiscal year ended January 31, 2014, through furnished press release and prepared remarks.

Autodesk uses non-GAAP financial measures to supplement its GAAP results. The company believes these measures offer a clearer view of its core business performance by excluding items like stock-based compensation, amortization of intangibles, and restructuring charges. These non-GAAP figures are used internally for decision-making and are provided to investors for better period-to-period comparisons and benchmarking against peers.

Key items excluded from GAAP to derive non-GAAP measures include stock-based compensation expenses, amortization of purchased intangible assets, goodwill impairment charges, restructuring charges, gains or losses on strategic investments, and certain discrete tax items and their effects.

The press release and prepared remarks furnished with this 8-K are generally not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, nor are they automatically incorporated by reference into other filings, unless Autodesk specifically states so in a particular filing.