Design software company Autodesk has reported an 18% increase in its net revenues from $456.8m to $538.4m for its third quarter ending October 2007 driven by growth in design products, emerging economies, and addition of new seats.
The design segment revenues of the company increased by 20% to $467m over the third quarter of 2006. Revenues from the Asia Pacific, Eastern Europe, the Middle East and Latin America reported an increase of 31 % to $92m and represented 16% of total revenues. Revenues from new seats of Revit, AutoCAD Architecture and AutoCAD Mechanical business divisions reported increase of 49%, 44% and 39%, respectively, compared to the same period last year.
The operating income increased by 53.9% to reach $105.6m compared to $68.6m in the previous year. In addition, it reported net income as $84.8m or $0.35 per share compared to $58.0m or $0.24 per share for the same period in 2006.
Autodesk’s competitor, Parametric Technology Corporation also reported a 9% increase in its fourth quarter revenues to $266.7m over the same period in 2006, driven by increase in sales from its Enterprise Solutions division.
Source: ComputerWire daily updates