Autodesk Q4 Adj. Profit Declines, Yet Tops View; Issues Q1 Outlook - Quick Facts

(RTTNews) - Autodesk, Inc. (ADSK) reported net income for the fourth quarter of $53.9 million or $0.23 per share, compared to $74.5 million or $0.32 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest fourth quarter was $93.2 million or $0.40 per share, compared to $120.8 million or $0.53 per share in the prior year quarter. On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.34 per share. Analysts' estimates typically exclude special items.

Revenue for the third quarter grew 15% to $586.6 million from $606.9 million in the same quarter last year, while sixteen analysts expected revenue of $572.84 million for the fourth quarter.

Looking forward to the first quarter, the company forecast earnings of $0.01 to $0.04 per share, adjusted earnings of $0.19 to $0.22 per share and revenue of $560 million to $575 million. Analysts currently expect the company to earn $0.35 per share on revenue of $550.52 million for the first quarter.

For the full fiscal year 2014, the company now forecasts revenue growth of 3a5 to 5%.