California, USA, 18 May 2006 : Autodesk, Inc. announced financial results for its first fiscal quarter ended April 30, 2006. For the first quarter, Autodesk reported record net revenues of $436 million, a 23 percent increase over $355 million reported in the first quarter of the prior year. On a constant currency basis, revenues increased 28 percent.
First quarter net income was $49 million, or $0.20 per diluted share on a GAAP basis and $80 million, or $0.32 per diluted share on a non-GAAP basis. Current quarter non-GAAP net income excludes stock based compensation expenses, litigation expenses and amortization of purchased intangibles. Net income in the first quarter of the prior year was $76 million, or $0.31 per diluted share on a GAAP basis, and $75 million, or $0.30 per diluted share on a non-GAAP basis.
Revenue from new seats, including the company’s 2007 family of products, increased by 19 percent compared to the first quarter of last year. Revenue from new seats was driven by strong growth in 3D and vertical products. Revenue from new seats of 3D increased 50 percent over last year. Revenue from new seats of Autodesk Building Systems, the AutoCAD-based solution for mechanical, electrical and plumbing engineers, increased more than 130% over the first quarter of last year. Revenue from new seats and emerging businesses continues to represent approximately two-thirds of total revenues.