CAD vendor Autodesk Inc has failed to meet its own financial guidance for the third quarter, as customers continued to delay spending decisions. The San Rafael, California-based vendor said revenues for the quarter ending October 31 would come in between $186 million to $190 million, 6% below its previous guidance.
Earnings per share will be $0.04 to $0.05 on a proforma basis. Wall Street had been expecting $0.06, according to First Call. On a GAAP basis, including restructuring charges of $14m, the company will return a loss of $0.02 to $0.03 per share. The company beat predictions for the second quarter, but at the time reined back third quarter expectations. Autodesk said it faced exceptionally tough business conditions. It said it would take further actions to cut costs.