Autodesk (ADSK) Q4 1987 earnings summary

Executive summary

• FY1987 revenue rose ~77% YoY to $52.382M; net income increased ~78% to $11.620M, with AutoCAD establishing a wider presence in PC and 32-bit CAD markets.

• Product launches, international expansion, and broader workstation compatibility supported growth; foreign sales reached 38% of revenue, up from 30% in FY1986.

Financial highlights

• Revenue was $52.382M vs. $29.531M in FY1986; operating income was $21.638M vs. $12.393M.

• Net income was $11.620M vs. $6.521M; diluted net income per share was $0.55 vs. $0.34.

• Gross profit was $44.518M; income before taxes was $22.925M and provision for income taxes was $11.305M.

Outlook and guidance

• 80386 technology and continued desktop hardware advances were expected to expand product capabilities; AutoCAD 2.6 was previewed with stronger 3D functionality.

• Longer-term cash needs were expected to support product development, growth, and potential complementary software or technology acquisitions; current resources and the credit line were considered sufficient for current needs.

• Order deferrals ahead of releases, shipment delays, currency movements, and CAD pricing pressure could affect quarterly results.