Friday, August 14. 2009

Autodesk Beats the Street; Q2 Profit Down 88%

Reuters look at the cup half full: "...Autodesk posted a profit of 24 cents per share, compared with 56 cents per share a year ago, and ahead of analysts' consensus forecast of 19 cents according to Reuters Estimates."

The reasons given by the company for the drop in profits: lower sales and margins as well as restructuring charges.

The numbers look like this per Dow Jones: "For the quarter ended July 31, Autodesk reported a profit of $10.5 million, or 5 cents a share, down from $89.8 million, or 39 cents a share, a year earlier. Excluding items such as restructuring and stock-compensation costs, earnings fell to 24 cents from 56 cents.

Revenue dropped 33% to $414.9 million."

Autodesk's Geospatial group has been virtually silent since the launch of AutoCAD 2010 via a webcast earlier this year (Directions Media coverage.

- Dow Jones
- Reuters
- Earnings call transcript - press release