Autodesk 2007 Annual Report Download - page 192

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132
AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 17. Quarterly Financial Information (Unaudited) (Continued)
Results for the second and third quarters of fiscal 2006 include non-recurring tax benefits of $1.9
million and $10.6 million, respectively, related to the impact of the DRD Legislation on prior fiscal years’
earnings. In addition, results for the first and third quarters of fiscal 2006 include tax benefits related to
the lapse of the statute of limitations of $1.2 million and $6.9 million, respectively, and the fourth quarter
includes a non-recurring tax charge of $1.3 million. The fourth quarter of fiscal 2006 includes $7.9 million of
in-process research and development expenses and $0.7 million of intangible amortization, both related
to the acquisition of Alias. The acquisition of Alias is described at Note 15, “Business Combinations.”
The following tables present the effects of adjustments made to the Company’s previously reported
quarterly financial information as of January 31, 2006 (in millions except, per share data):
2006 4th quarter 3rd quarter
As
Reported Adjustments (1)
As
Restated
As
Reported Adjustments (1)
As
Restated
Net revenues:
License and other . . . . . . . . . . . . . . . . $ 336.5 $ 4.3 $340.8 $304.4 $ 4.3 $ 308.7
Maintenance . . . . . . . . . . . . . . . . . . . . 80.3 (1.3) 79.0 73.9 (1.1) 72.8
Total net revenues . . . . . . . . . . . . . . 416.8 3.0 419.8 378.3 3.2 381.5
Costs and expenses:
Cost of license and other revenues . 38.5 0.1 38.6 40.8 0.1 40.9
Cost of maintenance revenues . . . . . 2.0 — 2.0 1.6 — 1.6
Marketing and sales . . . . . . . . . . . . . . 156.0 0.5 156.5 136.4 0.5 136.9
Research and development . . . . . . . . 88.7 0.3 89.0 74.0 0.3 74.3
General and administrative . . . . . . . 34.3 1.1 35.4 32.5 0.1 32.6
Restructuring . . . . . . . . . . . . . . . . . . . . — — — — — —
Total costs and expenses . . . . . . . . 319.5 2.0 321.5 285.3 1.0 286.3
Income from operations . . . . . . . . . . . . 97.3 1.0 98.3 93.0 2.2 95.2
Interest and other income, net . . . . . . 4.2 — 4.2 3.2 — 3.2
Income before income taxes . . . . . . . . 101.5 1.0 102.5 96.2 2.2 98.4
Income tax (provision) benefit . . . . . . . (18.5) (0.6) (19.1) (1.7) (1.0) (2.7)
Net income . . . . . . . . . . . . . . . . . . . . . . . . $ 83.0 $ 0.4 $ 83.4 $ 94.5 $ 1.2 $ 95.7
Basic net income per share . . . . . . . . . . $ 0.36 $ — $ 0.36 $ 0.41 $0.01 $ 0.42
Diluted net income per share . . . . . . . . $ 0.33 $ — $ 0.33 $ 0.38 $ — $ 0.38
Shares used in computing basic net
income per share . . . . . . . . . . . . . . . . . 229.7 — 229.7 229.6 — 229.6
Shares used in computing diluted net
income per share . . . . . . . . . . . . . . . . . 251.5 — 251.5 249.5 — 249.5