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 year ended January 31, 2014 and Form 10-Q for the quarter ended April 30, 2014, which are on file with the U.S. Securities and Exchange Commission. Autodesk does not assume 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 helps people imagine, design and create a better world. Everyone--from design professionals, engineers and architects to digital artists, students and hobbyists--uses Autodesk software to unlock their creativity and solve important challenges. For more information visit autodesk.com or follow @autodesk.
Autodesk is a registered trademark 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 services 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.
© 2014 Autodesk, Inc. All rights reserved.
| Autodesk, Inc. | ||||||||||||||||
| Condensed Consolidated Statements of Operations | ||||||||||||||||
| (In millions, except per share data) | ||||||||||||||||
| Three Months Ended July 31 | Six Months Ended July 31 | |||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||
| (Unaudited) | ||||||||||||||||
| Net revenue: | ||||||||||||||||
| License and other | $ | 350.4 | $ | 313.2 | $ | 666.6 | $ | 636.7 | ||||||||
| Subscription | 286.7 | 248.5 | 563.0 | 495.4 | ||||||||||||
| Total net revenue | 637.1 | 561.7 | 1,229.6 | 1,132.1 | ||||||||||||
| Cost of revenue: | ||||||||||||||||
| Cost of license and other revenue | 53.4 | 42.8 | 102.7 | 87.2 | ||||||||||||
| Cost of subscription revenue | 34.5 | 25.0 | 63.9 | 48.1 | ||||||||||||
| Total cost of revenue | 87.9 | 67.8 | 166.6 | 135.3 | ||||||||||||
| Gross profit | 549.2 | 493.9 | 1,063.0 | 996.8 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Marketing and sales | 237.6 | 198.1 | 463.0 | 406.9 | ||||||||||||
| Research and development | 179.3 | 148.9 | 349.8 | 299.7 | ||||||||||||
| General and administrative (1) | 71.5 | 52.3 | 134.0 | 103.0 | ||||||||||||
| Amortization of purchased intangibles (1) | 10.1 | 9.3 | 21.0 | 20.1 | ||||||||||||
| Restructuring charges, net | 0.8 | 1.7 | 3.1 | 2.1 | ||||||||||||
| Total operating expenses | 499.3 | 410.3 | 970.9 | 831.8 | ||||||||||||
| Income from operations | 49.9 | 83.6 | 92.1 | 165.0 | ||||||||||||
| Interest and other (expense) income, net | (7.0 | ) | (1.8 | ) | (13.6 | ) | (10.6 | ) | ||||||||
| Income before income taxes | 42.9 | 81.8 | 78.5 | 154.4 | ||||||||||||
| Provision for income taxes | (11.6 | ) | (20.1 | ) | (18.9 | ) | (37.1 | ) | ||||||||
| Net income | $ | 31.3 | $ | 61.7 | $ | 59.6 | $ | 117.3 | ||||||||
| Basic net income per share | $ | 0.14 | $ | 0.28 | $ | 0.26 | $ | 0.52 | ||||||||
| Diluted net income per share | $ | 0.13 | $ | 0.27 | $ | 0.26 | $ | 0.51 | ||||||||
| Weighted average shares used in computing basic net income per share | 227.3 | 223.1 | 227.1 | 223.6 | ||||||||||||
| Weighted average shares used in computing diluted net income per share | 232.4 | 228.3 | 232.4 | 229.3 | ||||||||||||
