Posts Tagged ‘fin’

Autodesk Media & Entertainment Revenue Slips 5 Percent in Q1 FY 2013

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 18 2012

Autodesk announced that its Media & Entertainment (M&E) revenue for the first quarter of fiscal 2013 was $51m, a decrease of 5% versus the same period a year ago, and a decrease of 7% versus the previous quarter.

M&E Gross margins for the quarter were 82%, up from 77% last quarter.

The performance of Autodesk’s M&E business lagged the company’s total results.  On an overall basis, Autodesk’s Q1 2012 revenue increased 11% versus last year to $589m.

Company-wide gross margins for the first quarter were 90%.

On the company’s conference call with equity analysts, Autodesk CEO Carl Bass said the M&E division had some “bad bounces” during the quarter. According to Bass, the M&E results were negatively impacted by customers delaying product purchase until the company’s new Smoke for Mac product is available, which he said has “frozen sales to some degree,” and by one of the company’s hardware vendors delaying the release of its product.  Bass also said that Autodesk expects its M&E revenue to decline over time as the company incorporates greater functionality into its design suites.

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Related Content:

Press Release: Autodesk Reports 11 Percent First Quarter Revenue Growth

Autodesk Q1 2013 earnings call transcript

Previous Quarter: Autodesk Media & Entertainment Revenue Rises Nine Percent in 2011

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