8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (Nov 29, 2016)

Filed November 29, 2016For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on November 29, 2016, to report its third-quarter financial results for the period ended October 31, 2016. The filing primarily serves to furnish the press release and prepared remarks containing these results. A significant focus of the disclosure is Autodesk's use of non-GAAP financial measures, which the company employs alongside GAAP figures to provide investors with a clearer view of its operational performance and earning potential. Autodesk emphasizes that its non-GAAP measures exclude items such as stock-based compensation, amortization of acquired intangibles, goodwill impairment, restructuring charges, gains/losses on strategic investments, and certain tax-related adjustments. The company argues these exclusions offer greater transparency into management's decision-making and allow for better comparison with peers and across periods, aiding investors in evaluating the core business's health and long-term prospects. Investors are strongly advised to review the reconciliation between GAAP and non-GAAP measures provided within the referenced exhibits.

Key Highlights

  • 1Autodesk reported its third-quarter financial results for the period ending October 31, 2016, via press release and prepared remarks furnished with the 8-K.
  • 2The company provided details on its use of non-GAAP financial measures, including non-GAAP net earnings and billings, to supplement GAAP reporting.
  • 3Autodesk explained that non-GAAP measures exclude significant items like stock-based compensation, amortization of intangibles, goodwill impairment, and restructuring charges.
  • 4These exclusions are intended to provide investors with a view of core business operating results and facilitate comparisons across periods and with industry peers.
  • 5The filing explicitly states that the furnished exhibits (press release and prepared remarks) are not considered 'filed' for purposes of Section 18 of the Exchange Act.
  • 6Autodesk stressed the importance of reviewing reconciliations between GAAP and non-GAAP financial measures to fully understand the company's financial performance.
  • 7The report includes furnished exhibits (99.1: Press Release, 99.2: Prepared Remarks) containing the detailed financial results and management commentary.

Frequently Asked Questions

The primary purpose of this 8-K filing is to furnish Autodesk's press release and prepared remarks related to its third-quarter financial results for the period ended October 31, 2016. It officially makes these documents available to the public through the SEC.

Autodesk provides non-GAAP financial measures to offer investors supplemental information that management uses internally for decision-making, budgeting, and performance evaluation. These measures exclude certain items believed to be less indicative of core business operations, such as stock-based compensation, amortization of intangibles, and restructuring charges, allowing for potentially clearer comparisons of operational performance across periods and against competitors.

No, the press release and prepared remarks furnished with this 8-K are explicitly stated as being 'furnished' and not 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934. This means they are not subject to the same level of liability as formally filed documents.

Investors are strongly encouraged to review the reconciliation provided by Autodesk between its non-GAAP financial measures and the comparable GAAP measures. The company emphasizes that non-GAAP measures are supplementary and should not be considered in isolation or as a substitute for GAAP results, urging investors to analyze both to gain a comprehensive understanding of the business.