Autodesk Inc. (ADSK) announced a restructuring plan to reduce its annual operating expenses. The company anticipates the restructuring will result in annual pre-tax cost savings of approximately $130 million annually starting in fiscal 2010.
As part of its restructuring plan, Autodesk plans to reduce its workforce by approximately 750 employees, representing approximately 10 percent of the company's global workforce. The company also plans to consolidate certain facilities.
As a result of this restructuring, the company anticipates taking a pre-tax charge in the range of $65 million to $75 million. Approximately $45 million to $50 million in pre-tax charges will be taken in the fourth quarter of fiscal 2009. Most of the remaining charge will be taken in the first quarter of fiscal 2010.
For the fourth quarter of fiscal 2009, the company lowered its net revenue outlook to the range of $475 million - $500 million, from the prior outlook of $525 million - $550 million.
GAAP loss for the fourth quarter is now expected to be in the range of $0.12 - $0.05 per share, compared to prior outlook of earnings of $0.13 - $0.19 per share.
Non-GAAP earnings per share are now expected to be in the range of $0.18 and $0.24 and exclude $0.15 to $0.16 related to restructuring charges, $0.07 related to stock-based compensation expense and $0.07 for acquisition related charges.
Earlier, the company had expected to post non-GAAP earnings of $0.28 to $0.34 per share for the fourth quarter.
Analysts polled by First Call/Thomson Financial expect the company to report earnings of $0.31 per share on revenues of $536.05 million for the fourth quarter. Analysts' estimates typically exclude special items.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.