Discreet Revenues Fell 19% In Fiscal 2002

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.