Autodesk results beat forecast

PALO ALTO: Helped by strong sales, computer-aided design software maker

Autodesk Inc. on Thursday posted fourth-quarter pro forma earnings that beat

Wall Street forecasts. Autodesk shares, which closed 1/16 higher at $33-1/8 in

regular Nasdaq trade, rose more than $2 in after-hours trade on Island. The

stock hit a 52-week high of $56-1/16 in March.

The San Rafael, Calif.-based maker of AutoCAD and other design and drafting

software and multimedia tools, reported pro forma net income of 57 cents a

share, or $32 million, compared with analysts' consensus forecast for earnings

of 52 cents a share, according to First Call/Thomson Financial.

Revenues rose to $243 million from $226.7 million a year ago, when the

company had fourth-quarter pro forma net income of 48 cents per share, or $29

million. "The fourth quarter and the year shows solid execution across the

company," Autodesk chairman and chief executive Carol Bartz said.

"It was a break-through year on several fronts," Bartz said,

referring to the company's Internet strategy, sales of custom-built industry

software products and the expansion of its network of businesses. The company's

fourth-quarter results reflect a change in the way the company books its

revenue.

Autodesk said it now expects first quarter net revenue to be in the range of

$240 million and $250 million. For 2002, it expects sales to be between $1.025

billion and $1.065 billion, compared with analysts' current forecast for sales

of $1.01 billion in 2002.

(C) Reuters Limited 2001.