Autodesk Updates Second Quarter Business Outlook and Introduces Long Term Business Model Target

SAN RAFAEL, Calif - Autodesk, Inc has updated its business outlook for the second quarter of fiscal 2011 and introduced its target long term business model.

Autodesk indicated that it is pleased with global demand levels, including EMEA. As a result, the company is raising the bottom end of its second quarter business outlook.

“While our near-term outlook is balanced by our cautious view of the pace of the global recovery, we continue to be optimistic about long term growth,” said Carl Bass, Autodesk president and CEO. “At our Investor Day event today we will discuss the reasons for our confidence in our target long-term business model.”

At today’s Investor Day event, key members of Autodesk’s senior management team will deliver presentations that provide insight into Autodesk’s current customer base; illustrate the company’s long-term opportunities for growth; provide perspectives on how technology trends will influence its markets; and outline how Autodesk intends to capitalize on various industry trends.

Second Quarter Fiscal 2011 Business Outlook

The following statements are forward-looking statements which are based on current expectations and which involve risks and uncertainties, some of which are set forth below.

Revenue is now expected to be between $445 million and $460 million. The previously provided guidance range for revenue was $435 million to $460 million.

On a GAAP basis, earnings per diluted share are now expected to be in the range of $0.14 and $0.17. Previously provided guidance for GAAP earnings per diluted share was $0.12 to $0.17. On a non-GAAP basis, earnings per diluted share are expected to be in the range of $0.25 and $0.28, excluding $0.06 related to stock-based compensation expense, $0.04 for amortization of acquisition related intangibles, and $0.01 related to restructuring charges. Previously provided guidance for non-GAAP earnings per diluted share was $0.23 to $0.28.

Second quarter outlook assumes an effective tax rate of 26 percent for our GAAP results and an effective tax rate of 27 percent for our non-GAAP results.

Long Term Business Model Targets

Based on its business strategy and expectations about the global economy, the company set a target long-term business model of 12-14 percent compound annual revenue growth and non-GAAP operating margin of at least 30 percent. Targeted attainment of the business model is approximately five years. Autodesk is not able to provide targets for GAAP operating margins at this time because of the difficulty of estimating excluded GAAP items that would affect our operating margin, including charges related to stock-based compensation expense and amortization of acquisition related intangibles.

Investor Day Webcast

Autodesk will host its annual Investor Day meeting today at 11:30 a.m. ET. The live audio broadcast with slides can be accessed at http://www.autodesk.com/investors. A webcast replay and podcast replay of the event will be available beginning later today on our website at http://www.autodesk.com/investors. This replay will be maintained on our website for at least twelve months.