Autodesk(ADSK Quote) on Tuesday increased fourth-quarter revenue by 19% from a year ago, attributable to robust business of model-based 3D products and in emerging markets.
But as a result of the company's completed voluntary review of its stock option grant practices and related accounting issues, Autodesk expects to restate previously issued financial statements for fiscal years 2003 through 2006 to correct errors.
The San Rafael, Calif.-based design-software maker said that because it has not yet filed its second- and third-quarter fiscal 2007 financial statements, many adjustments have been made to those financial results.
The adjustment to the first quarter of 2007 will be recorded in the second quarter due to its insignificance, the company said. ...
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