Autodesk 2002 Annual Report Download - page 6

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4FY 02 Autodesk, Inc.
The GIS group posted net revenues of $116
million, up 19 percent from last year. GIS
growth is attributed to the strong performance
of Autodesk Map and Autodesk Land Desktop.
The Manufacturing Division performed well
despite this sector’s poor economic climate;
net revenues declined minimally to $130
million. Contributions were strong across
the product line, from Autodesk Mechanical
Desktop and AutoCAD Mechanical to our
latest Autodesk Inventor 5.
The Platform Technology Group, with AutoCAD
and AutoCAD LT, continues to provide a foun-
dation for many products in the core design
markets. Net revenues for the group increased
2 percent over last year to $462 million.
Our moving media segment, Discreet, posted
net revenues of $156 million, a 19 percent
decline over last year, representing 16 percent
of total net revenues. But while a slowdown
in broadcast and film productions clearly
inhibited Discreet’s financial performance,
the Discreet product line continues to be the
strongest in the market.
Looking past our product line, we see that this
year has been about operational excellence
and execution on our business model.This
year’s solid performance generated cash from
operations of $210 million, an increase of
7 percent over the cash generated last year.
As of January 31, 2002, we see a strong balance
sheet with cash, cash equivalents, and market-
able securities totaling $505 million and no
long-term debt.
Fiscal Year 2002 Financial Review
In fiscal year 2002, despite a difficult economic
environment, our financial results are solid.
Our year-end net revenues improved
1 percent to $947 million, and diluted pro
forma earnings per share, reflecting an April
2002 2-for-1 stock split, rose 14 percent to
$1.06, excluding restructuring and other
charges, amortization of goodwill, and a one-
time gain. Without these pro forma adjust-
ments, diluted earnings per share were 80
cents. Asia Pacific net revenues increased
7 percent to $223 million. The Americas
reported net revenues of $433 million, equal
to last year. And European net revenues of
$291 million show only a slight decline over
last year’s figures.
Our portfolio of businesses remained one of
our most powerful assets. The strength of our
portfolio lies in its diversity—spanning indus-
try segments, geographies, and customers
ranging from global 1000 companies, to small
and medium enterprises, to sole proprietor-
ships.This diversity provides balance in our
financial results.
The design solutions segment—comprising
primarily the Platform Technology Group and
the Building Industry, Geographic Information
Systems, and Manufacturing divisions—earned
net revenues of $791 million, representing
growth of 6 percent and accounting for 84 per-
cent of total net revenues.
The Building Industry Division took its flagship
product, Autodesk Architectural Desktop, to an
outstanding net revenue growth of 44 percent,
totaling $83 million for the year.