Autodesk Fourth Quarter Earnings
Autodesk (NASDAQ: ADSK) on Wednesday afternoon released its fourth-quarter earnings and full fiscal year results, which ended as of January 31, 2014. Shares of the clouding company are currently up 2.30 per share or 4.20 percent in after hours trading to $57.02 per share. The stock was fairly constant throughout the day and only moved up 0.11 percent or $0.06 to a total of $54.72 per share.
Below are some key metrics for the clouding company for the full year and fourth quarter:
• Revenue was $587 million.
• GAAP adjusted earnings came out to be $0.23 per share and non-GAAP earnings came out to be $0.40 per share.
• Sales of its product Suites increased 15 percent to $216 million, as compared t the fourth quarter of last year.
• Compared to 2013 cash flow from operating activities increased a whopping 18 percent to $184 million.
Autodesk President and CEO Carl Bass had these things to say regarding the fourth quarter and the future of Autodesk:
"We closed our fiscal year with momentum marked by strong growth in suites and demand for our Architecture, Engineering and Construction (AEC) solutions, demand accelerated for our world leading portfolio of building information modeling (BIM) solutions. Our cloud-based BIM 360 tools had a terrific quarter as we continue to enable greater mobility and collaboration for our construction customers. Our cloud-based PLM 360 business also experienced continued momentum and had its best quarter to date."
For future guidance, Autodesk stated that it expects anywhere between three to five percent in revenue growth for 2015. It also sees new net subscription additions of 150,000 to 200,000, and sees net billings growth of five to eight percent.
As a side note, the company stated that these fourth quarter results excluded about $50 million in license revenue. These sales were not included because of the company's business model transition.
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