Autodesk 2012 Annual Report Download - page 103

Download and view the complete annual report

Please find page 103 of the 2012 Autodesk annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

34
Net revenue for PSEB, which includes our Autodesk Design Suite, increased 16% during fiscal 2012, as compared to
fiscal 2011, primarily due to a 15% increase in revenue from our AutoCAD LT products.
Net revenue for AEC increased 10% during fiscal 2012, as compared to fiscal 2011, primarily due to a 10% increase in
revenue from our Revit family of products.
Net revenue for MFG increased 15% during fiscal 2012, as compared to fiscal 2011, primarily due to a 14% increase in
revenue from our Autodesk Inventor family of products and a 24% increase in our AutoCAD Electrical products.
Net revenue for M&E increased 9% during fiscal 2012, as compared to fiscal 2011, primarily due to a 15% increase in
revenue from our Animation product group, which includes our Autodesk Entertainment Creation Suite, offset by a 3%
decrease in revenue from Creative Finishing. The increase in Animation revenue was primarily due to a 13% increase in
revenue from Autodesk Maya related products.
Fiscal 2011 Net Revenue Compared to Fiscal 2010 Net Revenue
License and Other Revenue
Total license and other revenue increased 20% during fiscal 2011 as compared to fiscal 2010. This increase was primarily
due to the 31% increase in commercial new seat revenue during fiscal 2011 as compared to fiscal 2010. During fiscal 2011, 28
percentage points of the 31% increase was due to the increase in the number of seats sold, and 3 percentage points was due to
higher average net revenue per seat. Commercial new seat revenue, as a percentage of license and other revenue, was 67% and
61% for fiscal 2011 and 2010, respectively.
Also contributing to the increase in license and other revenue during fiscal 2011, as compared to fiscal 2010, was the
22% increase in upgrade revenue, which includes crossgrade revenue. Upgrade revenue was higher during fiscal 2011 primarily
due to a one-time increase in upgrades in response to a promotion in advance of the March 2010 increase in upgrade pricing, an
additional promotion run in the Americas geography in the fourth quarter and an increase in the number of larger revenue
transactions in fiscal 2011 as compared to fiscal 2010.
Backlog related to current software license product orders that had not shipped at the end of the quarter increased by $1.5
million during fiscal 2011 from $26.0 million at January 31, 2010 to $27.5 million at January 31, 2011.
Maintenance Revenue
Maintenance revenue increased 6% during fiscal 2011, as compared to fiscal 2010, primarily due to a 7% increase in
commercial maintenance revenue. Total subscription program enrollment at January 31, 2011 and 2010 consisted of about
2.9 million users and 2.2 million users, respectively.
The 7% increase in commercial maintenance revenue was due to a 5 percentage point increase in net revenue per
maintenance seat and a 2 percentage point increase in commercial enrollment during the corresponding maintenance contract
term. Commercial maintenance revenue represented 98% of maintenance revenue for both fiscal 2011 and 2010.
Net maintenance billings increased 14% during fiscal 2011 as compared to fiscal 2010. This increase was due to an
increase in renewals, more new seats sold and the impact from the upgrade pricing promotion mentioned above.
Deferred revenue at January 31, 2011 and January 31, 2010, was $587.9 million and $516.5 million, respectively.
Net Revenue by Geographic Area
Net revenue in the Americas geography increased by 7% both as reported and on a constant currency basis, during fiscal
2011, as compared to fiscal 2010. This increase was primarily due to a 33% increase in revenue from new seats during fiscal
2011 as compared to fiscal 2010. Maintenance revenue increased 3% during fiscal 2011 as compared to fiscal 2010. The
Americas was affected by slower economic growth than our other geographies, which impacted growth rates for all of our
products during fiscal 2011.
Net revenue in the EMEA geography increased by 17%, or 13% on a constant currency basis, during fiscal 2011 as
compared to fiscal 2010. The increase was primarily due to a 24% increase in new seat revenue and a 9% increase in
maintenance revenue. The EMEA geography’s increase in revenue during fiscal 2011 was primarily due to economic expansion
in virtually all countries in that geography. The increase in our revenue in that geography was led by Germany, France, the
United Kingdom and Belgium.
35
2012 Annual Report