Autodesk Q3 Results Top Estimates

(RTTNews) - Autodesk, Inc. (ADSK) reported net income for the third quarter of $57.6 million or $0.25 per share, compared to $29.4 million or $0..13 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $94.3 million or $0.41 per share, compared to $109.0 million or $0.47 per share in the prior year quarter.

Revenue for the third quarter grew 1% to $555.2 million from $548.0 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per share on revenue of $547.50 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecast revenue of $560 million to $580 million, earnings of $0.09 to $0.16 per share and adjusted earnings of $0.29 to $0.36 per share. Analysts currently expect the company to earn $0.35 per share on revenue of $574.83 million for the fourth quarter.

For the full fiscal year 2014, the company now forecasts revenue of $2.247 billion to $2.267 billion, earnings of $0.84 to $0.90 per share and adjusted earnings of $1.55 to $1.61 per share. Analysts currently expect the company to earn $1.61 per share on revenue of $2.25 billion for the fiscal year 2014.