Autodesk, Inc. (NASDAQ:ADSK) today reported financial results for the third quarter of fiscal 2014.
Third Quarter Fiscal 2014
- Revenue was $555 million, an increase of 1 percent, compared to the third quarter of fiscal 2013 as reported, and increased 4 percent on a constant currency basis.
- GAAP operating margin was 12 percent, compared to 6 percent in the third quarter of fiscal 2013.
- Non-GAAP operating margin was 22 percent, compared with 27 percent in the third quarter of fiscal 2013. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables.
- GAAP diluted earnings per share were $0.25, compared to $0.13 in the third quarter of fiscal 2013.
- Non-GAAP diluted earnings per share were $0.41, compared to $0.47 in the third quarter of fiscal 2013.
- Deferred revenue increased 7 percent to $766 million, compared to the third quarter of fiscal 2013.
- Cash flow from operating activities was $91 million, compared to $157 million in the third quarter of fiscal 2013.
“Our third quarter was marked by strong growth in suites and solid execution across Architecture, Engineering and Construction (AEC) and Manufacturing,” said Carl Bass, Autodesk president and CEO. “Continued global adoption of building information modeling (BIM) drove double-digit growth within our AEC business. Our Manufacturing segment benefited from greater demand for our design and digital manufacturing tools, as well as continued momentum within the automotive industry. We continue to see steady adoption of our new cloud and mobile-based services, which complement our Design and Creation suites.”
Third Quarter Operational OverviewRevenue in the Americas decreased 1 percent to $208 million compared to the third quarter last year as reported, and was flat on a constant currency basis. EMEA revenue increased 4 percent to $204 million compared to the third quarter last year as reported, and increased 5 percent on a constant currency basis. Revenue in Asia Pacific was flat at $143 million compared to the third quarter last year as reported, and increased 7 percent on a constant currency basis. Revenue from emerging economies increased 6 percent to $84 million compared to the third quarter last year as reported and on a constant currency basis. Revenue from emerging economies represented 15 percent of total revenue in the third quarter.
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