Autodesk is reporting Q3 revenues of $417 million, down 31% from a year earlier, and flat with the previous quarter. The killer? Falling sales of AutoCAD and LT, down 39% from a year ago -- hence the $500 rebates on purchasing the basic CAD packages.
Ceo Carl Bass is cautious:
The company expects FY10 revenues of around $1.7 billion. In after hours trading, the share price fell 10% (at time of writing).
Source.
Ceo Carl Bass is cautious:
While there are several data points in our business that are encouraging and represent positive indicators for our business, the health of the global economic environment remains mixed and the continued job losses in our core markets represent ongoing challenges to a swift recovery in our business.”
The company expects FY10 revenues of around $1.7 billion. In after hours trading, the share price fell 10% (at time of writing).
Source.
Autodesk made some significant acquisitions over the past couple of years burning through a lot of cash - $300 million to purchase Moldflow, $42 million for Robobat, $34 million for Algor.. All of those are analysis packages, not CAD applications. I think these products were a poor fit with ADSK's expertise and dealer channel, and in the case of Moldflow, extremely costly. It would be interesting to see the revenues from each of those companies' product lines both pre and post acquisition by ADSK, but I doubt ADSK would break down the numbers in a way to make that kind of info easy to find.
Manufacturing and architectural are two of ADSK's core markets and both have been in a steep downtrend. I would have thought that the revenue downturn would have been more spread across the board of ADSK products
Posted by: Mook | Nov 20, 2009 at 08:48 AM