8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 20, 2014)

Filed November 20, 2014For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on November 20, 2014, to report its financial results for the third quarter ended October 31, 2014. The filing primarily consists of a press release and prepared remarks, which are furnished as exhibits. These documents detail the company's financial performance and introduce Autodesk's use of non-GAAP financial measures to provide investors with supplemental insights into its operational performance. The company emphasizes that non-GAAP measures, such as non-GAAP net earnings and billings, are used internally for budgeting and performance evaluation. These measures exclude items like stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, and certain tax-related items. Autodesk believes these adjustments offer a clearer view of the core business's earning potential and aid in comparing results across periods and with peers, though investors are urged to consider these alongside GAAP measures.

Key Highlights

  • 1Autodesk reported its third-quarter financial results for the period ending October 31, 2014, via an 8-K filing.
  • 2The filing includes a press release and prepared remarks detailing the company's financial performance.
  • 3Autodesk utilizes non-GAAP financial measures to supplement its GAAP reporting.
  • 4Key non-GAAP metrics discussed include non-GAAP net earnings and billings.
  • 5The company explicitly lists several items excluded from its non-GAAP calculations, such as stock-based compensation and amortization of intangibles.
  • 6Autodesk believes non-GAAP measures provide greater transparency into management's decision-making and aid in evaluating core business performance.
  • 7Investors are advised to review reconciliations between GAAP and non-GAAP measures and not to rely solely on non-GAAP figures.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Autodesk's financial results for the third quarter ended October 31, 2014, and to furnish the accompanying press release and prepared remarks.

Autodesk presents non-GAAP financial measures to offer investors supplemental information about the company's operational performance and earning potential. They believe these measures exclude items that may not be indicative of the core business's ongoing results, facilitating better period-to-period comparisons and analysis against peers.

Autodesk excludes several items, including stock-based compensation expenses, amortization of developed technologies and purchased intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, establishment of valuation allowances on certain deferred tax assets, discrete tax items, and income tax effects on the difference between GAAP and non-GAAP costs.

Investors should use the non-GAAP information as supplemental data alongside the company's GAAP financial measures. Autodesk urges investors to review the reconciliation between GAAP and non-GAAP figures and not to rely solely on any single financial measure when evaluating the business.