San Rafael, USA, 27 February 2007 – Autodesk, Inc. has reported record quarterly revenues of $497 million, an increase of 19 percent over the fourth quarter of fiscal 2006.
“We are pleased to finish another year of outstanding execution and revenue growth,” said Carl Bass, Autodesk president and CEO. “In fiscal 2007, we delivered revenues of $1.84 billion, nearly double the level of three years ago. Our fourth quarter growth was driven by strong performance from emerging economies, our subscription program and, most significantly, record revenues from our model-based 3D products. Looking to fiscal 2008, we expect Autodesk to continue to focus on delivering industry-leading 3D design software solutions that help our customers be more productive, improve quality and foster greater innovation.”
Autodesk’s performance was driven by robust increases in revenue from model-based 3D products, maintenance revenue from subscription, and revenue in the emerging economies. In addition, revenues from crossgrades — customers moving from one product to another — and new seats showed strong growth.
The Company’s model-based 3D products, Inventor, Revit and Civil 3D, continue to increase their market penetration. Combined revenues from these model-based design products increased 40 percent over the fourth quarter of fiscal 2006 to a record $121 million or 24 percent of total revenues in the quarter. In total, Autodesk shipped more than 47,000 commercial seats of 3D in the quarter including 23,000 seats of Revit, over 15,000 seats of Inventor and nearly 9,000 seats of Civil 3D.
Once again, emerging economies contributed robust growth in revenues. Revenues from the emerging economies in Asia Pacific, Eastern Europe, the Middle East and Latin America increased 44 percent over the fourth quarter of fiscal 2006 to $75 million and represented 15 percent of total revenues in the fourth quarter.
Maintenance revenues from subscription increased 53 percent compared to the fourth quarter of fiscal 2006 to $123 million or 25 percent of total revenues. Continued strength in subscription attach rates and renewal rates drove a $53 million sequential increase in deferred maintenance revenue from subscription. Total upgrade revenues increased slightly compared to the fourth quarter of fiscal 2006 driven by a 45 percent increase in crossgrade revenue.
Revenues from new seats increased by 15 percent compared to the fourth quarter of last year. Revenues from new seats of Revit and Civil 3D increased 95 percent and 26 percent, respectively, compared to the fourth quarter of fiscal 2006. Revenues from new seats of AutoCAD Mechanical and Inventor Professional increased by 68 percent and 62 percent, respectively, compared to the fourth quarter of last year. Revenues from new seats of flame increased by over 100 percent compared to the fourth quarter of fiscal 2006.