Autodesk
ADSK
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Autodesk : first-quarter loss narrows on a YOY basis

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05/19/2017 | 04:19 pm

Autodesk, Inc. (ADSK) saw its loss narrow to $129.60 million, or $0.59 a share for the quarter ended Apr. 30, 2017. In the previous year period, the company reported a loss of $167.70 million, or $0.75 a share. On the other hand, adjusted net loss for the quarter widened to $34.80 million, or $0.16 a share from a loss of $23 million or $0.10 a share, a year ago.

Revenue during the quarter dropped 5.12 percent to $485.70 million from $511.90 million in the previous year period. Gross margin for the quarter expanded 195 basis points over the previous year period to 83.90 percent. Operating margin for the quarter stood at negative 24.62 percent as compared to a negative 29.24 percent for the previous year period.

Operating loss for the quarter was $119.60 million, compared with an operating loss of $149.70 million in the previous year period.

However, the adjusted operating loss for the quarter stood at $39.50 million compared to operating loss of $27 million in prior year period.

"Broad-based strength across all subscription types and geographies led to another record quarter for total subscription additions and a fantastic start of the new fiscal year," said Amar Hanspal, Autodesk co-chief executive officer and chief product officer. "Customers continue to embrace the subscription model, and we`re expanding our market opportunity with continued momentum of our cloud-based offerings, such as BIM 360 and Fusion 360."

For the second-quarter 2018, Autodesk, Inc. projects revenue to be in the range of $488 million to $500 million. The company forecasts diluted loss per share to be in the range of $0.66 to $0.60. On an adjusted basis, the company forecasts diluted loss per share to be in the range of $0.18 to $0.14.

For financial year 2018, Autodesk, Inc. projects revenue to be in the range of $2,000 million to $2,050 million. The company forecasts diluted loss per share to be in the range of $2.61 to $2.35. The company forecasts diluted loss per share to be in the range of $0.73 to $0.56 on adjusted basis.

Operating cash flow drops significantly

Autodesk, Inc. has generated cash of $45.20 million from operating activities during the quarter, down 72.51 percent or $ 119.20 million, when compared with the last year period.

Cash flow from investing activities was $258.50 million for the quarter as against cash outgo of $230.20 million in the last year period.

The company has spent $178.80 million cash to carry out financing activities during the quarter as against cash outgo of $67.20 million in the last year period.

Cash and cash equivalents stood at $1,340.20 million as on Apr. 30, 2017, up 9.55 percent or $116.80 million from $1,223.40 million on Apr. 30, 2016.

(c) 2017 Fars News Agency. All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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