Autodesk 2002 Annual Report Download - page 62

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Note 14. Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2002, 2001, and 2000 is as follows:
1st
quarter
2nd
quarter
3rd
quarter
4th
quarter
Fiscal
year
(In thousands, except per share data)
Fiscal 2002
Netrevenues............................. $245,740 $231,360 $216,357 $254,034 $947,491
Grossmargin ............................ 209,015 196,167 178,558 212,548 796,288
Income from operations .................... 36,601 19,388 12,832 29,353 98,174
Netincome .............................. 27,900 19,173 21,471 21,769 90,313
Basic net income per share .................. 0.26 0.18 0.20 0.20 0.83
Dilutednetincomepershare ................ 0.25 0.17 0.19 0.19 0.80
Fiscal 2001
Netrevenues............................. $231,259 $232,841 $229,177 $243,047 $936,324
Grossmargin ............................ 194,533 193,632 191,221 206,740 786,126
Income from operations .................... 37,983 34,000 29,520 38,511 140,014
Netincome .............................. 25,606 20,753 18,511 28,363 93,233
Basic net income per share .................. 0.22 0.18 0.16 0.26 0.82
Dilutednetincomepershare ................ 0.20 0.18 0.16 0.25 0.80
Fiscal 2000
Netrevenues............................. $202,661 $210,582 $208,131 $226,677 $848,051
Grossmargin ............................ 169,649 170,310 172,310 189,467 701,736
Income (loss) from operations ............... (20,209) (5,248) (4,435) 30,655 763
Netincome(loss) ......................... (17,144) 389 1,393 25,170 9,808
Basic net income (loss) per share ............. (0.15) — 0.01 0.21 0.08
Dilutednetincome(loss)pershare ........... (0.14) — 0.01 0.20 0.08
Results for the second, third and fourth quarters of fiscal 2002 include restructuring and other charges
totaling $9.8 million, $7.3 million, and $16.6 million, respectively, $24.5 million of which related to corporate
restructuring activities, $3.2 million of which related to the third quarter acquisition of Media 100, and
$3.6 million of which related to wind-down costs associated with the dissolution of RedSpark during the third
quarter.
Results for the first quarter and third quarter of fiscal 2001 included credits totaling $0.8 million and
$0.4 million, respectively, $1.0 million of which related to the reversal of fiscal 2000 restructuring charges.
Results for the first quarter of fiscal 2000 included restructuring and other charges totaling $21.8 million,
which resulted from the acquisition of Discreet and VISION. Results for the third quarter of fiscal 2000 included
restructuring and other charges totaling $14.7 million, which primarily related to a corporate restructuring.
Results for the fourth quarter of fiscal 2000 included $1.8 million of credits, primarily related to the reversal of a
litigation reserve established in fiscal 1999.
Note 15. Subsequent Event (Unaudited)
In April 2002, Autodesk acquired Revit Technology Corporation (“Revit”) for $133.0 million in cash. The
acquisition will be accounted for under SFAS 141. The addition of Revit complements our existing family of
building industry applications with a parametric building modeler for customers to design, coordinate and
integrate information about the entire building.
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