Autodesk Beats Estimates

Autodesk (ADSK Quote - Cramer on ADSK - Stock Picks) exceeded Wall Street expectations for its fourth-quarter earnings and raised its guidance on Tuesday, prompting investors to bid up the stock in after-hours trading.

The computer-aided design software firm reported net income of $83 million, or 33 cents a share. Excluding $8 million in expenses related to its acquisition of Alias and other items, net income for the quarter was $91 million, or 37 cents a share. Analysts polled by Thomson First Call predicted the company would make 35 cents a share.

A year ago, the company earned $65.8 million, or 26 cents a share.

Fourth-quarter sales totaled $417 million, beating consensus estimates of $414 million and marking a 17% increase over the $356 million from the same quarter last year.

The stock rose 3.61 %, or $1.36, to $39.01 in recent after-hours trading on Instinet. It was the fourth most-traded stock after the market closed.

"Autodesk had an excellent finish to another outstanding year," Carol Bartz, Autodesk chairman and CEO said in a statement. "Customer demand for our products continues to be very strong. Through solid execution we significantly increased revenues and profitability for the third year in a row."

For the current quarter (Autodesk's first quarter of fiscal 2007), the company predicted between $425 million and $435 million, above the $419 million estimated by Thomson First Call analysts. Earnings per share will be between 30 and 32 cents, the company said, in line with analysts' expectations of 32 cents a share.

For the second quarter, the company expects to collect between $440 million and $450 million in revenue, above analysts' predictions of $432 million. Autodesk's estimates of 34 to 36 cents a share for that quarter are consistent with analyst expectations of 35 cents a share.

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