Autodesk Issues FY Q4 Warning; Cutting 750 Jobs

January 15, 2009 at 5:08 am PT

Autodesk (ADSK) this morning joined the parade of misery, warning that Q4 results would be short of expectations, and unveiling a restructuring plan that will result in the loss of 750 jobs.

The company now sees revenue for the fiscal fourth quarter ending January of $475 million to $500 million, down from previous guidance of $525 million to $550 million. The company expects a GAAP loss of 5-12 cents a share, with a non-GAAP profit of 18-24 cents. Previous guidance had been for non-GAAP EPS of 28-34 cents.

CEO Carl Bass said in a statement that “global economic conditions continue to impact our end-user demand.”

Read the rest of this post

Tagged with: Autodesk, Barrons, Carl Bass, Eric Savitz, frontpage, Tech Trader Daily

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.