8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Aug 27, 2015)

Filed August 27, 2015For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on August 27, 2015, primarily to furnish a press release and prepared remarks detailing their financial results for the second quarter ended July 31, 2015. The filing emphasizes the company's use of non-GAAP financial measures, such as non-GAAP net earnings and billings, to provide investors with a clearer view of their core business performance and operational decision-making. These non-GAAP measures exclude items like stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, and gains/losses on strategic investments, which management believes are not indicative of ongoing operational results. Investors are encouraged to consider these non-GAAP metrics alongside GAAP results, as Autodesk uses them internally for budgeting, performance evaluation, and incentive compensation. The company explicitly states that these non-GAAP measures are supplementary and not a substitute for GAAP reporting, urging a review of the reconciliation provided to fully understand the business's financial health and operating performance across periods and in comparison to peers.

Key Highlights

  • 1Autodesk reported its second quarter fiscal year 2016 financial results, furnished via press release and prepared remarks.
  • 2The company detailed its use of non-GAAP financial measures, including non-GAAP net earnings, diluted EPS, and billings, for internal decision-making and investor analysis.
  • 3Key exclusions from non-GAAP measures include stock-based compensation, amortization of intangibles, goodwill impairment, restructuring charges, and strategic investment gains/losses.
  • 4Autodesk utilizes non-GAAP metrics to assess core business performance, aid in budgeting, planning, and forecasting.
  • 5The filing emphasizes that non-GAAP measures are intended to supplement, not replace, GAAP financial statements.
  • 6Investors are advised to review the reconciliation between GAAP and non-GAAP figures provided by the company.
  • 7The provided exhibits (Press Release and Prepared Remarks) are furnished, not filed, under Section 18 of the Exchange Act unless expressly incorporated into other filings.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish Autodesk's press release and prepared remarks containing their financial results for the second quarter ended July 31, 2015, and to explain their use of non-GAAP financial measures.

Autodesk uses non-GAAP financial measures to provide investors with a more transparent view of key metrics used by management in financial and operational decision-making. They believe these measures offer meaningful supplemental information about earning potential and core business performance by excluding certain expenses and charges that may not be indicative of ongoing operations.

Autodesk commonly excludes expenses such as stock-based compensation, amortization of developed technologies and purchased intangibles, goodwill impairment, restructuring charges, gains or losses on strategic investments, and certain discrete tax items and their effects.

Investors should view non-GAAP financial information as supplementary to, and not a substitute for, the company's GAAP financial statements. It is crucial to review the reconciliation provided by Autodesk between GAAP and non-GAAP measures to fully understand the financial performance and operational health of the business.