(1) Non-GAAP earnings per diluted share exclude $0.15 related to stock-based compensation expense and $0.07 for the amortization of acquisition related intangibles, net of tax.
Full Year Fiscal 2015
Autodesk is updating its guidance for full fiscal year 2015 as follows:
|FY15 Guidance Metrics||FY15 (ending January 31, 2015)|
|Billings growth||10 - 12%|
|Revenue growth||7 - 9%|
|GAAP operating margin||4 - 5%|
|Non-GAAP operating margin||15 - 16%|
|Net subscription additions||200,000 - 250,000|
The third quarter and full year fiscal 2015 outlook assume a projected annual effective tax rate of 29 percent and 26 percent for GAAP and non-GAAP results, respectively. These rates do not include one-time GAAP discrete items or the federal R&D tax credit that expired on December 31, 2013.
Earnings Conference Call and Webcast
Autodesk will host its second quarter conference call today at 5:00 p.m. ET. The live broadcast can be accessed at http://www.autodesk.com/investors. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesk's website simultaneously with this press release.
NOTE: The prepared remarks will not be read on the conference call. The conference call will include only brief remarks followed by questions and answers.
A replay of the broadcast will be available at 7:00 pm ET at http://www.autodesk.com/investors. This replay will be maintained on Autodesk's website for at least 12 months.
Safe Harbor Statement
This press release contains forward-looking statements that involve
risks and uncertainties, including statements in the paragraphs under
Business Outlook above, statements regarding the impacts of our
business model transition, and other statements regarding our
strategies, market and products positions, performance, and results.
There are a significant number of factors that could cause actual
results to differ materially from statements made in this press release,
including: general market, political, economic and business conditions;
failure to maintain our revenue growth and profitability; failure to
successfully manage transitions to new business models and markets,
including the introduction of additional ratable revenue streams and our
continuing efforts to attract customers to our cloud-based offerings and
expenses related to the transition of our business model; failure to
control our expenses; our performance in particular geographies,
including emerging economies; the ability of governments around the
world to meet their financial and debt obligations, and finance
infrastructure projects; weak or negative growth in the industries we
serve; slowing momentum in subscription billings or revenues; difficulty
in predicting revenue from new businesses and the potential impact on
our financial results from changes in our business models; difficulties
encountered in integrating new or acquired businesses and technologies;
the inability to identify and realize the anticipated benefits of
acquisitions; the financial and business condition of our reseller and
distribution channels; dependence on and the timing of large
transactions; fluctuation in foreign currency exchange rates; the
success of our foreign currency hedging program; failure to achieve
sufficient sell-through in our channels for new or existing products;
pricing pressure; unexpected fluctuations in our tax rate; the timing
and degree of expected investments in growth and efficiency
opportunities; changes in the timing of product releases and
retirements; and any unanticipated accounting charges.