Autodesk, parent company of Discreet, announced its financial results for Q4 and the fiscal year ended January 31, 2002, beating most analyst expectations for revenue and pro forma income for the periods.
On a pro forma basis (that is, excluding certain one-time charges for items like mergers or restructuring), the company recorded a profit of $37 million (65 cents per share), up from $32 million (57 cents per share) a year ago. Analysts had expected a pro forma profit of 55 cents per share. The downside was Autodesk's 21% drop in net income for the quarter, to $22 million (38 cents per share). Revenue came for the quarter reached $254 million (up 5% over last year), and annual revenue hit $947 million (up 12%). Results were down in the company's Discreet unit, which develops 3d studio max, gmax, and other game development tools. The unit's revenue for the year fell 19%, from $193 million in FY01 to $156 million in FY02. Net income for Discreet was not provided by Autodesk.
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