Schnitger Corporation

Some aspects of Autodesk’s business show improvement in Q2

Autodesk today announced results for its July quarter that were in-line expectations but still depressing. Total revenue for the quarter was $415 million, down 3% sequentially and down 33% from the second quarter of fiscal 2009.

CEO Carl Bass said that these results “continue to reflect a challenging global business environment… The current business environment and general business visibility remain
challenging, [h]owever, we are encouraged by sequential revenue growth we posted in several areas and are beginning to see some positive indicators in our business."

Taking various slices:
• Autodesk’s model-based 3D design solutions generated revenue of $124 million, a decrease of 25% from the second quarter of fiscal 2009 and a 2% sequential increase.
• AEC revenue as down 2% sequentially to $125 million, although down 29% from a year ago.
• Manufacturing division revenue was up 4% sequentially to $98 million, down 25% from last year
• revenue from 2D products (including vertical solutions) was down 38% from a year ago and down 6% sequentially to $194 million.
• revenue from the Americas decreased 21% from a year ago and 2% sequentially to $159 million.
• EMEA revenue was $157 million, a decrease of 41% from the second quarter of fiscal 2009 and 6% percent sequentially.
• revenue from the Asia Pacific region was $99 million, down 34% year over year but up 3% sequentially.
• revenue from emerging economies was $63 million, a decrease of 45% compared to the second quarter of fiscal 2009, but a 6% sequential increase as reported.

Autodesk also gave guidance for Q3 of revenue in the range of $400 million to $420 million which would be a decline of about 32%. Perhaps since its forecast does not show a strengthening in customer demand, Autodesk also made a point in its press release of calling out the fact that July it has more than $1 billion in cash and investments with no debt.

Lots more to come — but I’m on vacation, so right now it’s off to do something non-PLM.

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