Autodesk Completes Stock Option Review

The company takes a charge of nearly $35 million.
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(ADSK) - Get Report

completed review of its stock option grant practices led it to take a pretax charge on Monday of $34.8 million, the company said Tuesday.

Shares of Autodesk were recently off 63 cents, or 1.4%, to $44.47.

The review covered the period January 1988 through August 2006. The largest impact of the restatement was for the year 2007, when its stock option expense increased by $7.3 million.

San Rafael, Calif.-based Autodesk also reported EPS of 34 cents for the first fiscal quarter, which ended April 30. EPS, excluding items, was 44 cents, as expected by analysts polled by Thomson First Call.

The company had previously reported revenue for the quarter at $509 million, a 17% increase year over year.

Autodesk reiterated its second-quarter guidance for revenue of $520 million to $530 million, with EPS excluding items between 41 cents and 43 cents. Analysts had projected EPS of 43 cents on revenue of $503.6 million.

Autodesk's full-year guidance projects revenue of $2.12 billion to $2.15 billion and EPS, excluding items, of $1.82 to $1.89. Analysts had projected 2008 revenue of $2.14 billion and EPS of $1.89.