Mon, May 28, 2012, 5:24 AM EDT - U.S. Markets closed for Memorial Day

Autodesk reports 3Q profit gain of 35.8 percent

Autodesk 3rd-quarter profit rises 35.8 percent on strong sales growth

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SAN RAFAEL, Calif. (AP) -- Software maker Autodesk Inc. said its third-quarter net income rose 35.8 percent on strong revenue growth across its businesses.

The company earned $72.8 million, or 32 cents per share, for the quarter that ended Oct. 31. That was up from earnings of $53.6 million, or 23 cents per share, during the same period last year.

Revenue rose 15 percent to $548.6 million, from $476.7 million a year ago, with particularly strong growth in Asia Pacific, which posted revenue of $146 million, up 28 percent.

The company said it would have earned 44 cents per share if not for one-time items, up from 32 cents per share a year ago. Analysts surveyed by FactSet had been expecting a profit of 41 cents per share on revenue of $543.9 million.

The company projected fourth-quarter revenue of $575 million to $590 million, with earnings of 26 cents to 29 cents per share, or 42 cents to 45 cents per share excluding one-time items. Analysts were expecting a profit of 44 cents per share with revenue of $583 million.

Looking ahead to fiscal 2013, the company forecast revenue growth of at least 10 percent.

Autodesk shares had already risen 43 cents to close at $34.04 before the results were released. They rose another 76 cents, or 2.2 percent, to $34.80 in aftermarket trading.

 

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