Autodesk Issues FY Q4 Warning; Cutting 750 Jobs
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.”
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