Autodesk Revenues Fall in Q1; SARS Cited for Stifling Sales Activities in Asia/Pacific
By: Joe Francica
Editor-in-Chief and Vice Publisher, Directions Magazine
| (May 22, 2003) |
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Autodesk today reported revenues of $210.8 Million, down from $229 Million
one year ago. Expenses were $167 Million; and income was $7.5 Million, down
from $17.6 Million in Q1 2002. Head count for the company is reported to
be 3550. In the Infrastructure Division, revenues were down 14% as customers
held off purchasing software because new releases of products did not ship
until two weeks before the quarter ended. Infrastructure posted key wins
in the local government sector in Seattle, New York City, and Los Angeles.
At Pacific Gas & Electric, the company renewed a subscription for 1200
seats of Autodesk Map and 900 seats of Raster Design for a total sale of
$500,000.
Severe Acute Respiratory Syndrome (SARS) was cited for curtailing sales activities in the Asia-Pacific region where sales calls had to be halted altogether in Beijing. The effect on Q2 sales could be about $7 million for the broader Asia/Pacific region.
Annual revenue guidance is pegged at $.50 per share and totals for the year between $875 Million to $900 Million. Although revenues were down, Carol Bartz, CEO, stated emphatically that, "It is way, way too early to give up on this year."
See entire Q1 results with the Autodesk press release HERE.
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