Autodesk this morning issued a terse press release saying that preliminary results show
that revenue will be in the range of $604 million to $607 million — far below the earlier
forecast of $630 million.
The press release contains the following from Carl Bass, CEO: "The sharp downturn of the
global economy is substantially impacting our business. Demand for our products fell
dramatically in October in all geographies as the financial crisis worsened. With many of our
customers and partners unable to secure credit, projects are being delayed and our
business is being impacted. While our currency hedge will provide a net benefit to our third
quarter, the considerable strengthening of the U.S. dollar and our unusually low ending level
of backlog will likely create a significant headwind for the next few quarters."
That doesn’t give many hints. Autodesk competes in so many technology areas, that it’s
possible the hit was taken in financing-heavy areas such as building design, or in
discretionary technologies like digital media. But presuming that the hit was felt in
manufacturing, it’ll be interesting what MSC Software reports in a few hours — let’s see what
they have to say about the economy at the higher-end.
But before then, take time to VOTE. It’s not hard and it’s a sure way to make yourself heard.