8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 15, 2014)

Filed May 15, 2014For Securities:ADSK

Summary

Autodesk, Inc. filed an 8-K on May 15, 2014, to furnish its first quarter 2014 earnings release and prepared remarks. The filing primarily serves to inform investors about the company's financial results for the quarter ended April 30, 2014. A significant portion of the document details Autodesk's use of non-GAAP financial measures, explaining the rationale behind excluding items such as stock-based compensation, amortization of purchased intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, and certain tax-related items. Autodesk emphasizes that these non-GAAP measures are used internally for budgeting and performance evaluation and are provided to investors for greater transparency and to facilitate comparisons with peers. The company stresses that these non-GAAP figures should be considered alongside GAAP results and urges investors to review the provided reconciliations. The filing does not contain specific financial figures but refers to accompanying exhibits (Press Release and Prepared Remarks) for detailed results.

Key Highlights

  • 1Autodesk released its Q1 2014 financial results on May 15, 2014, via an 8-K filing.
  • 2The 8-K furnishes the company's press release and prepared remarks for the quarter ended April 30, 2014.
  • 3A significant focus of the filing is the explanation and justification of Autodesk's use of non-GAAP financial measures.
  • 4Key exclusions from non-GAAP measures include stock-based compensation, amortization of purchased intangibles, and restructuring charges.
  • 5The company states non-GAAP measures are used for internal decision-making and to provide investors with a clearer view of core business performance.
  • 6Autodesk advises investors to review reconciliations between GAAP and non-GAAP measures and not to rely solely on non-GAAP figures.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially furnish Autodesk's press release and prepared remarks detailing its financial results for the first quarter ended April 30, 2014. It serves as a public disclosure mechanism for this information.

Autodesk uses non-GAAP financial measures to supplement its GAAP results. The company believes these measures provide more meaningful insights into its core business operations and earning potential by excluding certain items like stock-based compensation, amortization of purchased intangibles, and restructuring charges, which can fluctuate or are non-cash in nature. This aids in internal decision-making, budgeting, and allows for better comparison with industry peers.

Autodesk typically excludes items such as stock-based compensation expenses, amortization of purchased intangibles, goodwill impairment charges, restructuring charges, gains or losses on strategic investments, and certain discrete tax items or tax effects. The company provides detailed explanations for each exclusion in the filing.

The actual financial results, including specific numbers for revenue, earnings, and other metrics, are not detailed within the 8-K text itself. Instead, they are contained in the furnished exhibits: Exhibit 99.1 (Press release dated May 15, 2014) and Exhibit 99.2 (Prepared remarks dated May 15, 2014).