Autodesk Splinters on Costs

The design software company increases revenue, but profit slips from a year ago.
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(ADSK) - Get Report

beat first-quarter earnings estimates by a penny after the bell Thursday, and revenue sailed past analysts' expectations.

The company earned $48.5 million, or 20 cents a share, roughly a 36% slide from $76.1 million or 31 cents a share in the same quarter last year.

Excluding stock-based compensation and other expenses, Autodesk earned $80 million, or 32 cents a share. A year ago, that figure was $74.9 million, or 30 cents a share.

On that basis, the company beat analysts' EPS estimates of 31 cents.

In their quarterly estimates, Thomson First Call analysts polled excluded 8 cents related to stock-based compensation charges and amortization of acquisition-related intangibles.

The computer-aided design software company posted revenue of $436 million, rising from $355.1 million in the same quarter last year. Analysts were looking for sales of $431.1 million.

"Autodesk had an excellent quarter," Autodesk CEO Carl Bass said in a statement. "We drove strong growth across our portfolio of businesses ... and continued the rapid integration of Alias into Autodesk, and in March, we launched our 2007 family of products, including more than 25 new releases."

Autodesk raised both full-year and current-quarter guidance, forecasting second-quarter GAAP EPS between 26 cents and 28 cents and non-GAAP EPS between 34 cents and 36 cents.

Revenue is expected to tally between $440 million and $450 million.

Those figures are consistent with consensus predictions of 35 cents a share on sales of $446.6 million.

For the full year, Autodesk said its revenue would range from $1.81 billion to $1.85 billion; net income is estimated between $1.07 and $1.15. Excluding items, the company forecast earnings in the range of $1.45 to $1.53.

On that basis, analysts expect Autodesk to earn $1.46 a share on sales of $1.81 billion.

After hours, shares of the computer-aided design software company recently rose 10 cents to $38.11.

During the regular session of trading, Autodesk was down by a quarter, or 0.7%, to $38.01.