Autodesk Beats on EPS But GAAP Results Lag
Nov 16th 2012 9:01AM
Updated Nov 16th 2012 9:06AM
Autodesk (NAS: ADSK) reported earnings on Nov. 15. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Oct. 31 (Q3), Autodesk missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share contracted significantly.
Gross margins increased, operating margins contracted, net margins dropped.
Autodesk recorded revenue of $548.0 million. The 17 analysts polled by S&P Capital IQ predicted revenue of $559.9 million on the same basis. GAAP reported sales were 0.1% lower than the prior-year quarter's $548.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.47. The 19 earnings estimates compiled by S&P Capital IQ forecast $0.43 per share. GAAP EPS of $0.13 for Q3 were 59% lower than the prior-year quarter's $0.32 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 89.4%, 30 basis points better than the prior-year quarter. Operating margin was 12.7%, 370 basis points worse than the prior-year quarter. Net margin was 5.3%, 800 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $604.2 million. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $2.32 billion. The average EPS estimate is $1.92.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 758 members out of 818 rating the stock outperform, and 60 members rating it underperform. Among 237 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 229 give Autodesk a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Autodesk is hold, with an average price target of $34.78.
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The article Autodesk Beats on EPS But GAAP Results Lag originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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