Autodesk revenues fall, but company sees some stabilization
By Loralee Stevens, Business Journal Staff Reporter
SAN RAFAEL — Autodesk inc. (NASDAQ: ADSK) reported revenues dropped during the third quarter by 31 percent and overall profits by 72 percent compared to the same period last year. But president and CEO Carl Bass said the company “appears to be increasingly stable.”
The maker of design, engineering and entertainment software reported a profit of $29.5 million, down from $104.5 million a year earlier.
Mr. Bass cited sequential increases in areas such as commercial new set licenses, revenue from the Americas and Europe and from the company’s 3D applications.
Operating margins narrowed during the quarter, reflecting Autodesk’s recent worldwide restructuring efforts. Earlier this year the company eliminated 135 positions in San Rafael as part of a 10 percent overall workforce reduction.
Autodesk, which makes design software for the manufacturing, building and construction, and entertainment and media markets, employs about 1,200 in its San Rafael headquarters, 7,500 worldwide.
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