8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Feb 25, 2016)

Filed February 25, 2016For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on February 25, 2016, to report its financial results for the fourth quarter and fiscal year ended January 31, 2016. The filing includes a press release and prepared remarks detailing these results. A significant focus of the report is Autodesk's use and reconciliation of non-GAAP financial measures. The company emphasizes that these non-GAAP metrics, which exclude items such as stock-based compensation, amortization of intangibles, goodwill impairment, and restructuring charges, are used internally for budgeting and performance evaluation. Autodesk believes these measures provide a more transparent view of its core business operations and are utilized by institutional investors and analysts to assess the company's financial health and compare performance across periods and peers.

Key Highlights

  • 1Autodesk reported its financial results for Q4 and FY2016, ending January 31, 2016.
  • 2The 8-K filing includes a press release (Exhibit 99.1) and prepared remarks (Exhibit 99.2) discussing the financial outcomes.
  • 3The company extensively uses and explains its non-GAAP financial measures, which are presented alongside GAAP results.
  • 4Non-GAAP measures are utilized internally for budgeting, resource allocation, and performance evaluation.
  • 5Key exclusions from GAAP to arrive at non-GAAP figures include stock-based compensation, amortization of developed technologies and intangibles, goodwill impairment, and restructuring charges.
  • 6Autodesk believes non-GAAP measures offer greater transparency into its core business operations and are valuable for investor analysis and peer comparison.
  • 7The filing explicitly states that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP measures, urging investors to review reconciliations.

Frequently Asked Questions

This 8-K filing serves to report Autodesk's financial results for the fourth quarter and full fiscal year ended January 31, 2016. It includes a press release and prepared remarks that provide details on the company's financial performance.

Autodesk uses non-GAAP financial measures to supplement its GAAP results. The company believes these measures provide a more meaningful view of its core business operations and earning potential by excluding certain non-cash or irregular items like stock-based compensation, amortization of intangibles, and restructuring charges. This approach is intended to enhance transparency for management, investors, and analysts.

Autodesk excludes several items from its non-GAAP measures, including stock-based compensation expenses, amortization of developed technologies and purchased intangibles, goodwill impairment charges, restructuring charges (benefits), net, gains or losses on strategic investments, establishment of valuation allowances on certain net deferred tax assets, discrete tax items, and the income tax effects related to the differences between GAAP and non-GAAP costs.

Investors are advised to view non-GAAP measures as supplemental information and not as a replacement for GAAP results. Autodesk encourages investors to review the provided reconciliations between GAAP and non-GAAP figures to fully understand the differences and the company's financial performance from both perspectives. The non-GAAP measures are intended to aid in understanding management's view of the business and for comparison with peers.