Software
SAN FRANCISCO - Engineering-software developer AutodeskADSK beat revenue estimates for the fourth quarter Tuesday, but lowered earnings guidance for the year ahead. The stock was down $4, or 10.2%, to $35.10 in after-hours trading. The San Rafael, Calif., company said it grew its top line 20%, to $599.1 million, from $497.4 million in rvenue in the same period of last year. Analysts were expecting revenue of $581.5 million, according to Thomson Financial. Net income was $96.5 million, or 40 cents a share, flat with last year's comparable bottom line of $96.4 million, or 40 cents a share. Excluding items, EPS was 52 cents. Analysts were looking for 54 cents a share. Fourth-quarter performance was driven by growth in international markets and continued customer migration to 3D design solutions, offset by slower-than-expected growth in the Americas, the company said. For the first quarter, Autodesk lowered its estimate for EPS excluding items to a range of 46 cents to 48 cents, from previous guidance for 50 cents to 52 cents. The company reaffirmed first-quarter revenue guidance of $575 million to $585 million. Analysts were expecting EPS of 52 cents and a top line of $582.7 million. For the full year, the company lowered its EPS outlook to a range of $2.15 to $2.25, excluding items, from previous guidance of $2.20 to $2.26. Autodesk reaffirmed guidance for revenue of $2.43 billion to $2.48 billion. Analysts were expecting revenue of $2.46 billion and EPS, less items, of $2.24.
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