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by Diane Himes, MA Editorial Staff Posted on Friday, May 18, 2007 4:55:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Revenue rises 17% year over year to $509 million; restatement of previous earnings still on hold pending advice from SEC due to past stock option-grant practices. |
| Keywords: | Autodesk, PLM, product lifecycle management, first quarter earnings, financial results, revenue, options investigation, 3D design, Inventor, Manufacturing Solutions, emerging markets, CAD, computer-aided design, Carl Bass |
PLM software giant Autodesk yesterday reported record revenue for the first quarter of fiscal 2008, ended April 30. Net revenue in the quarter was $509 million, a 17% increase over last year's comparable period. "Once again, we achieved strong quarterly results on most of our key business metrics, including 3D revenue, maintenance revenue from subscriptions, and revenue from emerging economies," said Autodesk President and CEO Carl Bass on a conference call with investors. Addressing the company's review of its past stock-option-granting practices — which has prevented Autodesk from publicly reporting net earnings or earnings-per-share results since the second quarter of fiscal 2007 — Bass said the company submitted certain financial statement information to the Securities and Exchange Commission on May 3, and is awaiting advice from the SEC before restating earnings for prior quarters or fiscal 2007. Company officials did not specify when investors could expect the restated results, only saying it would occur sometime "in the near future." [Click to continue] |
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