Autodesk First Quarter Results Driven by Strong Subscription Additions

Revenue from our Architecture, Engineering and Construction (AEC) business segment was $219 million, a decrease of 8 percent compared to the first quarter last year. Revenue from our Manufacturing business segment was $158 million, a decrease of 14 percent compared to the first quarter last year. Revenue from our Platform Solutions and Emerging Business (PSEB) segment was $100 million, a decrease of 46 percent compared to the first quarter last year. Revenue from our Media and Entertainment (M&E) business segment was $35 million, a decrease of 12 percent compared to the first quarter last year.

Business Outlook

The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties some of which are set forth below under "Safe Harbor." Autodesk's business outlook for the second quarter and full year fiscal 2017 assumes, among other things, a continuation of the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2017 GAAP and non-GAAP estimates is provided below or in the tables following this press release.

Second Quarter Fiscal 2017

Q2 FY17 Guidance Metrics  

Q2 FY17 (ending July 31, 2016)

Revenue (in millions) $500 - $520
EPS GAAP ($0.73) - ($0.63)
EPS non-GAAP (1) ($0.18) - ($0.11)

_______________

(1) Non-GAAP earnings per diluted share exclude $0.26 related to stock-based compensation expense, between $0.12 and $0.09 related to GAAP-only tax charges, $0.09 related to restructuring charges and other facility exit costs, and $0.08 for the amortization of acquisition related intangibles.

Full Year Fiscal 2017

FY17 Guidance Metrics   FY17 (ending January 31, 2017)
Revenue (in millions) (1) $1,950 - $2,050
GAAP spend growth (cost of revenue plus operating expenses) 3% - 4%
Non-GAAP spend growth (cost of revenue plus operating expenses) (2) (1%) - flat
EPS GAAP ($3.25) - ($2.87)
EPS non-GAAP (3) ($0.95) - ($0.70)
Net subscription additions 475,000 - 525,000

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