Autodesk announced record revenues of $538 million in the third quarter

Autodesk, the world's leader in 2D and 3D design software for manufacturing, construction, media, and entertainment, announced record revenues of $538 million achieved in the third quarter of fiscal year 2008, an increase of 18% compared to the same period of the previous year. Net income for the third quarter was $85 million (based on GAAP standards) and $117 million (based on non-GAAP standards).

“Just like in the previous quarter, we achieved another record turnover in this quarter,” says Carl Bass, President and CEO of Autodesk. “Our success is stable because Autodesk solutions enable our customers to deal with long-term trends such as globalization, the need for new and better infrastructure, and the gradual development of the Building Information Modeling (BIM) method into a new approach to design. These trends will continue to motivate customers to quickly adopt our pioneering solutions.”
    Autodesk's results for the third quarter of the fiscal year were most influenced by a strong increase in revenues in the segment of 3D modeling and 2D vertical design tools, a significant rise in emerging markets, and revenues from new licenses.
    The strengthening positions of Autodesk in all key industrial areas are also confirmed by David Palas, director of Autodesk's Prague office: “The engine of our excellent results in the Czech Republic and Slovakia is primarily the engineering 3D system Autodesk Inventor and the entire product portfolio for design in architecture and construction. The turnover from Inventor sales in the first three quarters of this year increased by 45% year-on-year, and revenues from AutoCAD Architecture and Revit sales for the same period increased by 29% year-on-year. In the area of geographic information systems, we concluded several significant contracts for the deployment of the enterprise-wide GIS solution Topobase. The implementation of these projects will gradually begin in the last quarter of the year. In the Geospatial area, we recorded a year-on-year turnover increase of an impressive 38%.”
    The design tools segment grew globally by 20% compared to the same period of the previous fiscal year, reaching $467 million. Combined revenues of the company in the area of 3D modeling products, such as Inventor, Revit, Civil 3D, and also the products of the newly acquired company NavisWorks, increased by 32% from the previous period to $130 million, constituting 24% of total revenues. Overall, Autodesk sold 21,400 commercial licenses of the Revit product, 13,400 licenses of Inventor, and 8,200 licenses of Civil 3D. Revenues from sector-specific 2D products increased by 22% compared to the third fiscal quarter of 2007.
    The robust growth in total revenues was significantly contributed to by emerging economies. Revenues from the Asia/Pacific, Eastern Europe, Middle East, and Latin America regions increased by 31% to $92 million, accounting for 17% of total revenues.
    Revenues from new licenses increased by 20% compared to the same quarter last year. Sales of new licenses for the Revit, AutoCAD Architecture, and AutoCAD Mechanical products were particularly strong, growing by 49%, 44%, and 39%, respectively, compared to the same period last year.
    Combined revenues from upgrades and maintenance increased by 15% to $186 million. Revenues in the area of software maintenance for customers rose by 29% from the previous period to $143 million, representing a 26% share of total revenues. Total upgrade revenues decreased by 16% compared to the same quarter last year, as expected. More detailed information about the financial results and future developments can be found here>.

One of the key events in the past quarter for Autodesk was co-organizing the exhibition Envision Change subtitled "The Ice Melts: A Burning Issue" in Brussels.

Autodesk is the world leader in 2D and 3D design software for manufacturing, construction, media, and entertainment. Since the introduction of the AutoCAD application in 1982, Autodesk has developed the widest portfolio of cutting-edge digital prototyping solutions that help customers practically test ideas before implementation. Fortune 1000 companies use Autodesk tools to visualize, simulate, and analyze the real functioning of their designs even in the early stages of development, helping them save time and money, increase quality, and foster innovation. For more information about Autodesk, visit www.autodesk.com or www.autodesk.cz.

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