Autodesk 3Q Net Income Climbs as Costs Fall


NEWS: Design software company Autodesk said Thursday its net income nearly doubled in the third quarter as restructuring charges fell.

DETAILS: Autodesk Inc. reported greater subscription revenue and lower license revenue. A year ago, it took $36.7 million in net restructuring charges during the third quarter. That total fell to $4.4 million in the latest period.

The company makes design software used by engineers, architects and digital artists, among others.

NUMBERS: Autodesk said its net income grew to $57.6 million, or 25 cents per share, from $29.4 million, or 13 cents per share. The company said it earned 41 cents per share excluding one-time items, down from 47 cents per share a year ago. Revenue rose 1 percent, to $555.2 million from $548 million.

FactSet says analysts expected net income of 39 cents per share and $547.7 million in revenue.

FUTURE: The San Rafael, Calif., company expects adjusted profit of 29 to 36 cents per share in the fourth quarter, on $560 million to $580 million in revenue.

Analysts are projecting net income of 34 cents per share and $575.7 million in revenue.

STOCK: Autodesk shares rose 2.8 percent to $43.53 Thursday, and gained nearly 3 percent to $44.70 in after-hours trading.

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