Autodesk third-quarter revenues increase 14 percent

SAN RAFAEL -- Autodesk Inc. (NASDAQ:ADSK) reported third-quarter revenues of $477 million, an increase of 14 percent compared to the third quarter of fiscal 2010 and 1 percent compared to the second quarter of fiscal 2011.

The maker of design software for the manufacturing, architecture, building, construction, and media and entertainment industries, saw 23 percent and 22  percent growth respectively in its Asia Pacific and emerging global markets, respectively.

“We are pleased with our third-quarter results, which reflect the solid progress we have achieved over the past year in driving revenue growth and improving profitability," said Carl Bass, Autodesk president and chief executive officer. “We saw particular strength in our manufacturing business, which experienced strong demand on a global basis. We also delivered double digit year-over-year revenue growth in each of our geographies. Strong revenue coupled with tight cost controls led to a significant year-over-year improvement in profitability.”

The price of Autodesk's stock increased 98 cents a share from Wednesday to $36.26 at the close of trading Thursday, an increase of 2.78 percent.

The earnings announcement was released after the close of the session. In after-hours trading, the price was off 4.8 percent from the Thursday closing price to $34.52.

© The North Bay Business Journal  |  Terms of Service |  Privacy Policy |  Jobs With Us |  RSS |  Advertising |  Sonoma Media Investments
Switch to our Mobile View