Autodesk, Inc. Earnings Cheat Sheet: Exceeds Forecasts with Boost of Profit Rise

S&P 500 (NYSE:SPY) component Autodesk, Inc. (NASDAQ:ADSK) reported net income above Wall Street’s expectations for the second quarter. Autodesk, Inc. is a design software and services company, offering progressive business solutions to customers in the architecture, engineering and construction, manufacturing, and digital media and entertainment industries.

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Autodesk Earnings Cheat Sheet for the Second Quarter

Results: Net income for the technical and system software company rose to $71.2 million (30 cents per share) vs. $59.9 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 18.9% from the year earlier quarter.

Revenue: Rose 15.5% to $546.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: ADSK reported adjusted net income of 44 cents per share. By that measure, the company beat the mean estimate of 34 cents per share. Analysts were expecting revenue of $539.3 million.

Quoting Management: “We experienced strong demand across all geographies and business segments with growth led by our Asia Pacific region,” said Carl Bass, Autodesk president and CEO. “Our manufacturing business segment had its largest revenue quarter ever and continues to be our fastest growing segment. Our AEC business segment returned to strong growth in the second quarter as the building and construction industries continue to standardize on Building Information Modeling. And our newly launched design and creation suites are off to a terrific start, helping drive our overall revenue growth.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 14.2%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 15.7% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 87.8% and in the fourth quarter of the last fiscal year, the figure rose 23%.

Gross margin shrank 0.3 percentage point to 89.5%. The contraction appeared to be driven by increased costs, which rose 18.6% from the year earlier quarter while revenue rose 15.5%.

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 32 cents versus a mean estimate of net income of 31 cents per share.

Competitors to Watch: Parametric Technology (NASDAQ:PMTC), ANSYS, Inc. (NASDAQ:ANSS), Adobe Systems Incorporated (NASDAQ:ADBE), Cimatron Ltd. (NASDAQ:CIMT), Synopsys, Inc. (NASDAQ:SNPS), Mentor Graphics Corp. (NASDAQ:MENT), Oracle Corporation (NASDAQ:ORCL), Google Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)