Plans to Discontinue Cash Dividend
In addition, the company announced that it will discontinue its $0.03 per share quarterly dividend. The company believes that shareholder interests will be better served by eliminating the payment. Autodesk's dividend currently yields 0.2 percent. Dividend payments will cease after the payment in March 2005.
"Autodesk performance has been outstanding," said Carol Bartz, Autodesk chairman and CEO. "We believe we have opportunities to continue to drive revenues with growth initiatives, including continued migration to our 3D products and increasing adoption of our lifecycle management solutions. The stock split recognizes our strong performance and our confidence in the future."
Safe Harbor Statement
This press release contains forward-looking statements regarding our future opportunities, performance and growth initiatives that involve risks and uncertainties. Factors that could cause actual results to differ materially include the following: general market and business conditions, failure to achieve sufficient sell-through in our channels for new or existing products, failure of key new applications to achieve anticipated levels of customer acceptance, pricing pressure, failure to achieve anticipated cost reductions, delays in the release of new products and services, failure to achieve continued success in technology advancements, changes in accounting rules, particularly related to stock option expensing, changes in foreign currency rates, failure to successfully integrate new or acquired businesses, financial and business condition of our reseller and distribution channels, renegotiation or termination of royalty or intellectual property arrangements, failure to achieve continued migration from our 2D products to our 3D products, and failure to grow lifecycle management or collaboration products.
Further information on potential factors that could affect the financial results of Autodesk are included in the company's report on Form 10-K for the year ended January 31, 2004, and Form 10-Q for the quarter ended July 31, 2004, which are on file with the Securities and Exchange Commission.
Autodesk, Inc. is wholly focused on ensuring that great ideas are turned into reality. With six million users, Autodesk is the world's leading software and services company for the building, manufacturing, infrastructure, digital media, and wireless data services fields. Autodesk's solutions help customers create, manage, and share their data and digital assets more effectively. As a result, customers turn ideas into competitive advantage by becoming more productive, streamlining project efficiency, and maximizing profits.
Founded in 1982, Autodesk is headquartered in San Rafael, California. For additional information about Autodesk, please visit http://www.autodesk.com/.
CONTACT: Investors: Sue Pirri, Email Contact, 415-507-6467 John Clancy, Email Contact, 415-507-6373 Press: Kathleen O'Boyle, Email Contact, 415-507-6465 Nicole Pack, Email Contact, 415-507-6282
CONTACT: investors, Sue Pirri, +1-415-507-6467, or
Email Contact, or John Clancy, +1-415-507-6373,
Email Contact, or media, Kathleen O'Boyle, +1-415-507-6465, or
Email Contact, Nicole Pack, +1-415-507-6282, or
Email Contact, all of Autodesk
Web site: http://www.autodesk.com/