Autodesk 2003 Annual Report Download - page 74

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Note 15. Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2003, 2002 and 2001 is as follows:
1st
quarter
2nd
quarter
3rd
quarter
4th
quarter
Fiscal
year
(In thousands, except per share data)
Fiscal 2003
Netrevenues ............................. $229,327 $211,401 $188,701 $195,516 $824,945
Grossmargin ............................ 188,635 177,191 156,866 162,091 684,783
Income (loss) from operations ............... 21,188 10,393 (7,845) 1,226 24,962
Netincome .............................. 17,641 11,760 (3,910) 6,413 31,904
Basic net income per share .................. 0.16 0.10 (0.03) 0.06 0.28
Dilutednetincomepershare ................ 0.15 0.10 (0.03) 0.06 0.28
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
Results for the first, second, third and fourth quarters of fiscal 2003 include restructuring and other charges
totaling $1.5 million, $3.8 million, $13.3 million and $7.3 million, respectively, which related to corporate
restructuring activities. Results for the fourth quarter of fiscal 2003 also include a non-recurring tax benefit of
$3.8 million.
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 third quarter of 2002 also include a gain on disposal of affiliate of $9.5 million.
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.
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