Design software maker Autodesk, Inc. (ADSK) Thursday reported a 30 percent decline in earnings from last year, hurt by lower revenue and weaker margins.
The company's quarterly earnings per share, excluding items, came in below analysts' expectations as did its quarterly revenue.
At the same time, the company forecast second quarter revenue and earnings below analysts' current consensus estimates, and lowered its revenue outlook for the current fiscal year.
"A mixed global economy weighed heavily on our first quarter results," said Carl Bass, Autodesk president and CEO. "There were positive areas in the quarter but overall, a weak April led to a disappointing finish to the quarter."
Autodesk shares currently losing 6.36% in after hours trading after closing the day's regular trading session at $39.78, up 35 cents. The shares trade in a 52-week range of $27.70 to $41.42.
First quarter revenue from the Americas fell 3% to $202 million, while revenue from EMEA decreased 4% to $216 million and revenue from Asia Pacific slipped 3% to $152 million. Revenue from emerging economies dropped 8% from last year to $75 million and represented 13% of total revenue in the first quarter.
Revenue from the company's Platform Solutions and Emerging Business segment fell 6% from a year earlier, while revenue from its Architecture, Engineering and Construction business segment rose 4% from last year. Revenue from the company's Media and Entertainment business segment fell 8% from a year ago, while revenue from its manufacturing business segment declined 4% from a year last year.
First quarter revenue from the company's flagship products fell 9% year-over-year, while revenue from Suites increased 8%.
For the first quarter ended April 30, 2013, the company reported net income of $55.6 million or $0.24 per share, compared to $78.9 million or $0.34 per share for the year-ago quarter.
Excluding items, adjusted net income for the first quarter rose to $96.3 million or $0.42 per share from $109.1 million or $0.47 per share in the prior year quarter.
On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.45 per share for the first quarter. Analysts' estimates typically exclude special items.
Gross margin for the quarter narrowed to 88.2% from 90.0% a year earlier, while adjusted gross margin shrank to 90.3% from 91.9% last year.
Operating margin for the quarter narrowed to 14% from 16% a year ago, while adjusted operating margin shrank to 24% from 25% last year.
Revenue for the first quarter fell 3% to $570.4 million from $588.6 million in the same quarter last year. Seventeen analysts had a consensus revenue estimate of $583.40 million for the first quarter.
The company's deferred revenue at the end of the first quarter was a record $851 million, an increase of 17% from a year earlier.
Looking forward to the second quarter, the company forecast revenue of $550 million to $570 million, earnings of $0.21 to $0.26 per share and adjusted earnings of $0.39 to $0.44 per share. Analysts currently expect the company to earn $0.51 per share on revenue of $597.53 million for the second quarter.
The company also said it now expects fiscal 2014 net revenue to increase about 3% from the fiscal 2013 level, compared to its prior expectations of about 6% growth. Analysts currently expect the company's fiscal year 2014 revenue to grow 5.90%.
Mark Hawkins, Autodesk executive vice president and CFO, said, "Our performance in the first quarter and a global economy that continues to be uneven, have led us to reconsider our fiscal year 2014 outlook."
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.