Design software purveyor Autodesk swung to a loss in its fiscal first quarter, as sales plummeted 29% on continued weak demand for the company’s 2D and 3D design products.
The first three months of fiscal 2010 leading up to April 30, 2009, proved to be a familiar recipe for Autodesk, as license sales slowed markedly and well-received maintenance offerings prevented an even larger top-line decline. The 29% sales drop brought revenue to $425.8 million, from $598.8 million in the prior-year first quarter. Of that total, maintenance sales contributed $182.2 million — a 9% jump — while the bottom dropped out on “license and other” sales, which nose-dived 44% to $243.6 million.
The bottom line followed suit, as the company reported a loss of $19.4 million, compared with income of $119.9 million in the first three months of fiscal 2009. That translated into a loss per diluted share of $0.14, compared with income per share of $0.41 a year earlier.
“From our point of view, the global markets are still in decline,” said CEO Carl Bass on a conference call with investors Thursday. Though the level of recession has moderated, he said, the company has seen no indications of an imminent recovery.