Autodesk 2014 Annual Report Download - page 168
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2013 Annual Report
2014 Form 10-K 94
16. Selected Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2014 and 2013 is as follows:
2014 1st quarter 2nd quarter 3rd quarter 4th quarter Fiscal year
Net revenue $ 570.4 $ 561.7 $ 555.2 $ 586.6 $ 2,273.9
Gross profit 502.9 493.9 488.1 514.7 1,999.6
Income from operations 81.4 83.6 68.1 51.7 284.8
Provision for income taxes (17.0) (20.1) (11.6) (2.4) (51.1)
Net income 55.6 61.7 57.6 53.9 228.8
Basic net income per share $ 0.25 $ 0.28 $ 0.26 $ 0.24 $ 1.02
Diluted net income per share $ 0.24 $ 0.27 $ 0.25 $ 0.23 $ 1.00
Income from operations includes the
following items:
Stock-based compensation expense $ 33.5 $ 31.0 $ 31.6 $ 36.1 $ 132.2
Amortization of acquisition related
intangibles 21.6 20.3 18.2 20.6 80.7
Restructuring charges, net 0.4 1.7 4.4 6.3 12.8
2013 1st quarter 2nd quarter 3rd quarter 4th quarter Fiscal year
Net revenue $ 588.6 $ 568.7 $ 548.0 $ 606.9 $ 2,312.2
Gross profit 529.8 508.9 490.1 544.9 2,073.7
Income from operations 94.0 92.9 34.4 84.6 305.9
Provision for income taxes (18.6) (27.5) (4.9) (11.6) (62.6)
Net income 78.9 64.6 29.4 74.5 247.4
Basic net income per share $ 0.35 $ 0.28 $ 0.13 $ 0.33 $ 1.09
Diluted net income per share $ 0.34 $ 0.28 $ 0.13 $ 0.32 $ 1.07
Income from operations includes the
following items:
Stock-based compensation expense $ 33.4 $ 33.5 $ 51.9 $ 37.5 $ 156.3
Amortization of acquisition related
intangibles 17.6 17.5 23.7 23.0 81.8
Restructuring benefits, net — — 36.7 7.2 43.9
17. Subsequent Events
On February 6, 2014, Autodesk acquired the entire issued and to be issued share capital of Delcam plc (“Delcam”), for
£20.75 per share, or approximately £174.6 million or $284.6 million. Delcam was previously listed as a public company (LON:
DLC) and is a leading supplier of advanced CADCAM and industrial measurement solutions for the manufacturing industry.
With this transaction Autodesk gains Delcam’s range of design, manufacturing and inspection software that provide automated
CADCAM solutions for a variety of industries, ranging from aerospace to toys and sports equipment. The transaction was
structured as a cash offer for all the outstanding shares of Delcam, and Delcam will be integrated into Autodesk's
Manufacturing reportable segment. The initial accounting for this acquisition was not complete as of March 10, 2014, due to
the timing of the acquisition.