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Autodesk Up and On Auto Pilot

Autodesk (ADSK) just reported record quarter revenues of $457 million, just under the $457.25 million consensus estimate. It is not providing EPS because of the ongoing options review. ADSK closed up 1% at $27.00 in normal trading, but shares are…

By Douglas A. McIntyre
Published November 17, 2006, 7:21am ET · 2 min read

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Autodesk (ADSK) just reported record quarter revenues of $457 million, just under the $457.25 million consensus estimate. It is not providing EPS because of the ongoing options review. ADSK closed up 1% at $27.00 in normal trading, but shares are up 6.4% to $39.35 in after-hours trading. The subscription revenues seem to be the game winner as the guidance seems in-line (although guidance may be conservative because of legal ramifications). ADSK 52-week trading range is $29.56 to $47.25.There was a huge bright spot in what may be considered a slight beat with in-line guidance. Its subscription (recurring) revenues have now grown to $111 million, about 24% of revenues, and up 50% from last year. That is an impressive feat and has been one of the growth drivers to the company.Total backlog was $352 million as of October 31, 2006, including $333 million of deferred revenues. Deferred subscription revenues increased $12 million sequentially to $275 million and there was $19 million of unshipped product orders at quarter end. Its DSO (days sales outstanding, or days to get paid!) also fell 1 day to 51 days.There is also guidance (compared to street estimates) where available. Next quarter guidance: Net revenues for the fourth quarter of fiscal 2007 are expected to be between $490 million and $500 million ($495M estimate); following quarter guidance: Net revenues for the first quarter of fiscal 2008 are expected to be approximately flat with the fourth quarter of fiscal 2007. Fiscal 2007 guidance: For fiscal year 2007, net revenues are expected to be between $1.832 billion and $1.842 billion ($1.84B estimate). Fiscal 2008 guidance: For fiscal year 2008, net revenues are expected to be between $2.075 billion and $2.125 billion ($2.10 Billion estimates).Jon C. OggNovember 16, 2006

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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