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Autodesk Issues FY Q4 Warning; Cutting 750 Jobs

Published on January 15, 2009
by Eric Savitz

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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