California, USA, 17 August 2006: Autodesk, Inc. reported record quarterly revenues of $450 million, an increase of 21% over the second quarter of last year.
“We are very pleased with the progress we made in the business this quarter,” said Carl Bass, Autodesk President and CEO. “Customer demand was robust and our operational execution, including expense management, was strong. Our products provide innovation and productivity that translate into real competitive advantage which our customers need in every economic environment.”
Autodesk’s performance was driven by strong increases in revenue from new seats, subscriptions and emerging economies as well as increasing penetration of its 3D products. In addition, the Media and Entertainment segment showed substantial improvement compared to the first quarter of fiscal 2007.
Revenue from new seats increased by 24 percent compared to the second quarter of last year. Revenue from new seats of 3D model-based design products increased 41 percent over last year, on particularly strong sales of the Revit family of products. Revenue from new seats of AutoCAD and AutoCAD LT increased by 23 percent compared to the second quarter of last year. Revenue from new seats and emerging businesses continues to represent approximately two-thirds of total revenues.
Subscription revenue increased 65 percent compared to the second quarter of last year to $104 million or 23 percent of revenue. Strong subscription attach rates and renewal rates drove a $12 million sequential increase in deferred subscription revenue. Upgrade revenues declined as expected. Combined subscription and upgrade revenues increased 14 percent compared to the second quarter of last year and continue to represent approximately one- third of total revenues.
The company’s 3D products, Inventor, Revit and Civil 3D continue to increase their market penetration. Combined revenues from the company’s 3D model-based design products increased approximately 37 percent over the second quarter of last year to $91 million or 20 percent of total revenue. In total, more than 32,000 commercial seats of 3D were shipped in the quarter. The Revit family of products led 3D growth again this quarter. Revit revenue increased 96 percent compared to the second quarter of fiscal 2006. Autodesk shipped more than 15,000 commercial seats of Revit in the quarter.
Once again, emerging economies contributed robust revenue growth. Revenue from the emerging economies in Asia Pacific, Eastern Europe, Latin America and the Middle East increased 32 percent over last year and represented 13 percent of total revenue in the second quarter.
Revenue from the Media and Entertainment segment increased 30 percent over the second quarter of fiscal 2006. Advanced Systems revenues were approximately flat over the second quarter of fiscal 2006 and increased by 40 percent sequentially on strong adoption of the new Linux-based offerings. Animation revenues increased by nearly 100 percent over the second quarter of last year and by 12 percent sequentially. As planned, the remaining Alias integration activities were substantially completed during the quarter, and new versions of both 3ds Max and Maya were announced during the quarter.