Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2016, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
About Autodesk
Autodesk makes software for people who make things. If you've ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you've experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.
Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
© 2017 Autodesk, Inc. All rights reserved.
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Autodesk, Inc. |
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Condensed Consolidated Statements of Operations |
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(In millions, except per share data) |
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Three Months Ended January 31, |
Fiscal Year Ended January 31, |
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2017 |
2016 |
2017 |
2016 |
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(Unaudited) |
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Net revenue: |
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Subscription |
$ |
322.5 |
$ |
319.5 |
$ |
1,290.0 |
$ |
1,277.2 |
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License and other |
156.3 |
328.8 |
741.0 |
1,226.9 |
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Total net revenue |
478.8 |
648.3 |
2,031.0 |
2,504.1 |
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Cost of revenue: |
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Cost of subscription revenue |
38.2 |
39.4 |
151.3 |
156.1 |
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Cost of license and other revenue |
44.7 |
55.5 |
190.6 |
214.6 |
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Total cost of revenue |
82.9 |
94.9 |
341.9 |
370.7 |
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Gross profit |
395.9 |
553.4 |
1,689.1 |
2,133.4 |
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Operating expenses: |
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Marketing and sales |
283.6 |
277.4 |
1,022.5 |
1,015.5 |
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Research and development |
187.0 |
204.5 |
766.1 |
790.0 |
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General and administrative |
74.1 |
73.2 |
287.8 |
293.4 |
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Amortization of purchased intangibles |
9.3 |
8.0 |
31.8 |
33.2 |
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Restructuring charges and other facility exit costs, net |
9.0 |
— |
80.5 |
— |
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Total operating expenses |
563.0 |
563.1 |
2,188.7 |
2,132.1 |
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(Loss) income from operations |
(167.1) |
(9.7) |
(499.6) |
1.3 |
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Interest and other expense, net |
(1.1) |
(10.8) |
(24.2) |
(21.6) |
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Loss before income taxes |
(168.2) |
(20.5) |
(523.8) |
(20.3) |
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Provision for income taxes |
(2.3) |
(16.7) |
(55.4) |
(310.2) |
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Net loss |
$ |
(170.5) |
$ |
(37.2) |
$ |
(579.2) |
$ |
(330.5) |
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Basic net loss per share |
$ |
(0.77) |
$ |
(0.17) |
$ |
(2.60) |
$ |
(1.46) |
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Diluted net loss per share |
$ |
(0.77) |
$ |
(0.17) |
$ |
(2.60) |
$ |
(1.46) |
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Weighted average shares used in computing basic net loss per share |
221.1 |
224.7 |
222.7 |
226.0 |
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Weighted average shares used in computing diluted net loss per share |
221.1 |
224.7 |
222.7 |
226.0 |
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_____________________ |
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(1) As Autodesk elected to early adopt ASU 2016-09 in the second quarter of fiscal 2017, we are required to reflect any adjustments as of February 1, 2016, the beginning of the annual period that includes the interim period of adoption. As a result of recording forfeitures as they occur, our stock based compensation expense decreased by $5.3 million for the three months ended April 30, 2016. Incorporating these non-cash, GAAP only, revisions results in a GAAP net loss of $167.7 million, and a GAAP diluted net loss per share of $0.75 for the three months ended April 30, 2016, which is reflected in the results for the year ended ended January 31, 2017 above. |
