Autodesk 2010 Annual Report Download - page 131

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Results of Operations
Net Revenue
Fiscal Year
Ended
January 31,
2010
Increase (decrease)
compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2009
Increase (decrease)
compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2008$ % $ %
(in millions)
Net Revenue:
License and other .......... $ 980.7 $(622.7) -39% $1,603.4 $ (15.2) -1% $1,618.6
Maintenance .............. 733.0 21.2 3% 711.8 158.5 29% 553.3
$1,713.7 $(601.5) -26% $2,315.2 $143.3 7% $2,171.9
Net Revenue by Geographic Area:
Americas ................ $ 654.4 $(127.9) -16% $ 782.3 $ (21.2) -3% $ 803.5
Europe, Middle East and
Africa ................. 671.1 (332.3) -33% 1,003.4 127.9 15% 875.5
Asia Pacific .............. 388.2 (141.3) -27% 529.5 36.6 7% 492.9
$1,713.7 $(601.5) -26% $2,315.2 $143.3 7% $2,171.9
Net Revenue by Operating
Segment:
Platform Solutions and
Emerging Business ...... $ 624.0 $(276.8) -31% $ 900.8 $ 9.8 1% $ 891.0
Architecture, Engineering and
Construction ............ 513.3 (128.1) -20% 641.4 55.3 9% 586.1
Manufacturing ............ 386.9 (101.5) -21% 488.4 70.5 17% 417.9
Media and Entertainment . . . 189.1 (73.0) -28% 262.1 3.4 1% 258.7
Other ................... 0.4 (22.1) -98% 22.5 4.3 24% 18.2
$1,713.7 $(601.5) -26% $2,315.2 $143.3 7% $2,171.9
Fiscal 2010 Net Revenue Compared to Fiscal 2009 Net Revenue
License and Other Revenue
License and other revenue is comprised of two components: all forms of product license revenue and other
revenue. Product license revenue includes revenue from the sale of new seat licenses, upgrades and crossgrades.
Other revenue consists of revenue from Advanced Systems, consulting and training services, Autodesk
Collaborative Solution hosting, and our former Location Services division. We divested the Location Services
division in February 2009.
Total license and other revenue decreased 39% during fiscal 2010 as compared to fiscal 2009. License and
other revenue from horizontal design and vertical design products decreased 33% and license and other revenue
from model-based design products decreased 19%, each as compared to the prior fiscal year. These decreases
were primarily due to the 44% decrease in commercial new seat revenue during fiscal 2010 as compared to fiscal
2009. During fiscal 2010, 29 percentage points of the 44% decrease was due to decreases in the number of seats
sold, and 15 percentage points was due to lower average net revenue per seat. As a percentage of total net
revenue, license and other revenue was 57% and 69% for fiscal 2010 and 2009, respectively. Commercial new
seat revenue, as a percentage of license and other revenue, was 61% and 67% for fiscal 2010 and 2009,
respectively.
Also contributing to the decrease in license and other revenue during fiscal 2010, as compared to fiscal
2009, was the 32% decrease in upgrade revenue, which includes crossgrade revenue. The decrease in upgrade
revenue was driven primarily by the recent global economic contraction. Additionally, upgrade revenue was
37