Design software maker Autodesk Inc. (ADSK) is scheduled to release its third-quarter results after the market closes Tuesday, with analysts forecasting earnings of $0.23 per share on revenues of $415.24 million. In the year-ago period, the company earned $0.56 per share, on a non-GAAP basis, and reported revenues of $607 million.
The San Rafael, California-based company projects third-quarter GAAP earnings per share in the range of $0.04 - $0.09 and non-GAAP earnings per share of $0.18 - $0.23, on revenues of $400 million - $420 million.
For fiscal 2009, Autodesk, famous for its AutoCAD software, now expects nearly $300 million in pre-tax cost savings versus prior year.
In the second quarter, the San Rafael, California-based company reported net income of $10.5 million or $0.05 per share, lower than the previous year's net income of $89.8 million or $0.39 per share. Quarterly revenues fell 33% to $414.9 million from $619.5 million in the same quarter of prior year.
Among Autodesk's rivals, Parametric Technology Corp. (PMTC) posted significantly lower profit for the fourth quarter, totaling $16.00 million or $0.13 per share, compared to $36.50 million or $0.32 per share in the year-ago period, hit by a slew of charges as well as lower revenues. Quarterly revenues declined to $246.34 million from $299.55 million in the previous year.
For the first quarter, Parametric Technology expects to report results in range of loss $0.02 - earnings $0.04 per share, with revenues between $230 million and $240 million. The company anticipates adjusted earnings of $0.12 - $0.18 per share for the quarter. For the fiscal year 2010, the company projects earnings of $0.43 per share, on revenue of $980 million. On an adjusted basis, earnings are expected to be $0.96 per share.
Another peer, Ansys Inc. (ANSS) posted higher profit for the third quarter, totaling $30.5 million or $0.33 per share, compared to $25.8 million or $0.29 per share a year ago, aided by higher revenue and lower operating expenses. Total revenue increased to $128.2 million from $122.2 million in the third quarter of 2008.
For the fourth quarter of 2009, Ansys projects GAAP earnings of $0.34 - $0.38 per share and non-GAAP earnings of $0.47 - $0.49 per share. GAAP revenue is estimated to be in the range of $135.8 million - $141.8 million, and non-GAAP revenue between $136 million and $142 million.
Ansys revised its full-year forecast, now expecting GAAP earnings of $1.20 - $1.24 per share and non-GAAP earnings of $1.72 - $1.74 per share. GAAP revenue is currently estimated to be in the range of $502.3 million - $508.3 million, and non-GAAP revenue between $510.4 million and $516.4 million. Earlier, the company had expected GAAP earnings of $1.13 - $1.26 per share, non-GAAP earnings of $1.66 - $1.76 per share. GAAP and non-GAAP revenues were earlier estimated in the range of $501.9 million - $519.9 million and $510 million - $528 million, respectively.
Autodesk shares, which have been trading between $11.70 and $27.97 in the past 52 weeks, closed Monday's trading session at $27.44. In the pre-market session, the stock is trading at $26.21, down $1.23 or 4.48%.
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