8-KEarnings & ResultsExhibits & Filings

Autodesk, Inc. 8-K Report, Financial Results (May 18, 2017)

Filed May 18, 2017For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) filed an 8-K on May 18, 2017, to furnish its first-quarter 2017 earnings press release and prepared remarks. These documents provide the company's financial results for the quarter ended April 30, 2017, and outline the non-GAAP financial measures Autodesk uses to supplement its GAAP reporting. The company emphasizes that these non-GAAP measures are utilized internally for budgeting, resource allocation, and performance evaluation, aiming to offer greater transparency into key metrics used by management. Investors are encouraged to review the non-GAAP information alongside the GAAP results, as the company details various exclusions such as stock-based compensation, amortization of intangibles, CEO transition costs, goodwill impairment, restructuring charges, gains/losses on strategic investments, valuation allowances on deferred tax assets, and discrete tax items. Autodesk stresses that these non-GAAP measures are not a substitute for GAAP but provide a more comparable view of core business operations and earning potential for investors and analysts.

Key Highlights

  • 1Autodesk furnished its Q1 2017 earnings press release and prepared remarks on May 18, 2017.
  • 2The filing details the company's financial results for the first quarter ended April 30, 2017.
  • 3Autodesk utilizes and explains its use of non-GAAP financial measures to supplement GAAP reporting.
  • 4Key non-GAAP adjustments include stock-based compensation, amortization of intangibles, CEO transition costs, and restructuring charges.
  • 5The company believes non-GAAP measures enhance transparency and comparability for investors.
  • 6Investors are advised to consider non-GAAP measures alongside GAAP results and review reconciliations.
  • 7The filing also includes information on goodwill impairment and strategic investment gains/losses as potential non-GAAP adjustments.

Frequently Asked Questions

The primary purpose of this 8-K filing is to furnish Autodesk's press release and prepared remarks announcing its financial results for the first quarter ended April 30, 2017. It also serves to inform investors about the company's use of non-GAAP financial measures and the specific items excluded from these measures.

Autodesk presents non-GAAP financial measures to provide investors with a clearer view of its core business performance and earning potential. These measures exclude items that management believes are not indicative of ongoing operating results, such as stock-based compensation, amortization of intangibles, and restructuring charges, thereby aiding in period-over-period comparisons and understanding management's decision-making.

Autodesk excludes several items from its non-GAAP measures, including stock-based compensation expenses, amortization of developed technologies and purchased intangibles, CEO transition costs, goodwill impairment charges, restructuring charges, losses/gains on strategic investments, establishment of valuation allowances on deferred tax assets, and discrete tax items.

Autodesk strongly advises investors to review its non-GAAP financial measures in conjunction with its GAAP financial results. They emphasize that non-GAAP measures are not a substitute for GAAP but are intended to offer supplemental information for a better understanding of the company's performance. Investors should also refer to the reconciliations provided in the company's filings.