Autodesk reports third Quarter results

Autodesk reports third Quarter results

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Autodesk the design software and digital content company, has announced financial results for its third quarter ended October 31, 2002. For the third quarter of fiscal year 2003, Autodesk reported net revenues of $188.7 million, compared to $216.4 million in the third quarter of fiscal year 2002.

On a pro forma basis, as defined below, third quarter net income was $5.8 million or $0.05 per diluted share compared to $20.8 million or $0.19 per diluted share for the same quarter a year ago.

“This is perhaps the toughest technology buying environment we’ve seen, yet we are still making money and generating cash, we have no debt, and we are financially very healthy,” said Carol Bartz, Autodesk chairman and CEO. “Customers are turning to Autodesk for cost savings and productivity improvements. In challenging times like these, customers look to a few key strategic technology partners for a quick ROI and Autodesk is clearly one of those partners.”

Third quarter net loss was $3.9 million or $0.03 per diluted share compared to net income for the same quarter a year ago of $21.5 million or $0.19 per diluted share.