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Autodesk CFO Resigns; Co Guides Q2 Below Street Views

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Autodesk Inc. (NASDAQ: ADSK) share proved volatile after hours Monday when it said second-quarter profits will fall well below Wall Street expectations.

The business software company also told investors its chief financial officer will resign to take a similar position at Salesforce.com Inc. (NYSE: CRM).

Autodesk said fiscal second-quarter results will be "at or above the previously issued business outlook." The company had guided GAAP earnings for the quarter in the 0.05 to $0.10 per share range on revenue of $595 million to $610 million. Non-GAAP EPS are expected to be between $0.25 and $0.30.

Analysts expected earnings of 28 cents a share on sales of $602.4 million.

For fiscal 2015 Autodesk predicted revenue growth of four percent to six percent and growth of three percent to five percent in net operating margin.

Autodesk CFO Mark Hawkins will join Salesforce as CFO effective August 1. Hawkins had served as Autodesk CFO since 2009.

In trading after hours, Autodesk changed hands recently at $56.25, down 0.23 percent. Salesforce closed Monday up 1.22 percent at $58.08 and was unchanged after hours.

Posted-In: Mark HawkinsNews Guidance Management

 

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