Public Company Information:
NASDAQ:
ADSK
SAN RAFAEL, Calif.–(BUSINESS WIRE)–Autodesk, Inc. (NASDAQ: ADSK) recently shared its financial performance for the first quarter of fiscal 2016.
First Quarter Fiscal 2016 Highlights:
- Total billings grew by 3% compared to the previous year and 8% on a constant currency basis.
- Deferred revenue rose to $1.15 billion, up from $964 million in the same period last year.
- The company added approximately 95,000 subscriptions during the quarter.
- Revenue reached $647 million, marking a 9% increase from the previous year and 13% growth on a constant currency basis.
- GAAP operating margin was 3%, down from 7% in the first quarter of the prior year.
- Non-GAAP operating margin stood at 15%, slightly lower than 17% in the previous year.
- GAAP diluted earnings per share were $0.08, compared to $0.12 in the same quarter last year.
- Non-GAAP diluted earnings per share were $0.30, down from $0.32 in the previous year.
- Cash flow from operating activities amounted to $87 million, a decrease from $219 million in the first quarter of the previous year.
Carl Bass, Autodesk President and CEO, noted, "We had a solid start to the year with good progress on our business model transition. We added 95,000 subscriptions during the quarter, with about half coming from new subscription types. Over the next two years, we expect to transition most of our offerings to subscription models, which provide customers with greater flexibility and an improved user experience."
Operational Overview:
- Revenue in the Americas increased by 19% to $244 million.
- EMEA revenue rose by 9% to $245 million, or 15% on a constant currency basis.
- APAC revenue decreased by 3% to $157 million, but increased by 2% on a constant currency basis.
- Emerging economies contributed $93 million in revenue, a 17% increase compared to the same period last year.
Business Outlook:
Autodesk has adjusted its outlook for the full fiscal year due to economic uncertainties and foreign exchange challenges. For the second quarter of fiscal 2016, the company expects revenue between $600 million and $620 million, with GAAP EPS ranging from ($0.10) to ($0.05), and non-GAAP EPS between $0.14 and $0.19.
For the full fiscal year 2016, Autodesk anticipates billings growth of 2% to 4%, revenue growth of 2% to 4%, and non-GAAP operating margin between 12% and 14%. The company also projects net subscription additions of 375,000 to 425,000.
Earnings Conference Call and Webcast:
Autodesk will host a conference call today at 5:00 p.m. ET, accessible via their website. A replay of the call will be available for 12 months.
Safe Harbor Statement:
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed here. For more information, please refer to Autodesk's Annual Report on Form 10-K for the year ended January 31, 2015.
About Autodesk:
Autodesk helps people imagine, design, and create a better world. Everyone from design professionals to students uses Autodesk software to unlock creativity and solve important challenges. For more information, visit autodesk.com or follow @autodesk.
Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, specifications, and pricing without notice and is not responsible for typographical or graphical errors that may appear in this document.
© 2015 Autodesk, Inc. All rights reserved.
Financial Statements:
Autodesk provided detailed financial statements, including condensed consolidated statements of operations, balance sheets, and cash flows, along with reconciliations of GAAP to non-GAAP measures.
Supplemental Financial Information:
Additional data includes metrics such as total net revenue, gross margins, operating expenses, and other key financial indicators. This information provides insight into the company's performance across different segments and geographies.
Other Notes:
The financial statistics include details on revenue by geography and segment, as well as common stock statistics and subscription data. These figures are crucial for understanding the company's market position and financial health.
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