Autodesk 2010 Annual Report Download - page 134

Net revenue for AEC decreased 20% during fiscal 2010, as compared to fiscal 2009, primarily due to a 24%
decrease in revenue from our Revit products, a 32% decrease in revenue from our AutoCAD Architecture
products, a 15% decrease in revenue from our AutoCAD Civil 3D products and a net 13% decrease in revenue
from all other AEC products and services.
Net revenue for MFG decreased 21% during fiscal 2010, as compared to fiscal 2009, primarily due to a 25%
decrease in revenue from our Autodesk Inventor products and a 34% decrease in revenue from our Autodesk
Mechanical products, offset by a net 2% increase in revenue from all other MFG products and services.
Net revenue for M&E decreased 28% during fiscal 2010, as compared to fiscal 2009, primarily due to a
42% decrease in revenue from Advanced Systems and an 18% decrease in revenue from our Animation product
group. The decrease in Animation revenue was primarily due to a 33% decrease in revenue from Autodesk 3ds
Max and a 17% decrease in revenue from Maya, offset by a net 32% increase in revenue from all other M&E
products and services.
Fiscal 2009 Net Revenue Compared to Fiscal 2008 Net Revenue
During fiscal 2009, as compared to fiscal 2008, net revenue increased 7%. During the third and fourth
quarters of fiscal 2009 we experienced a dramatic change in the economic conditions of our markets globally.
The first two quarters of fiscal 2009 were characterized by net revenue growth of 18% over the same period in
the prior fiscal year. Due to the deteriorating global economic conditions during our third and fourth fiscal
quarters of fiscal 2009, our results for the second half of fiscal 2009 were a stark contrast to the first half of the
fiscal year. Revenue for the second half of fiscal 2009 declined by 4% compared to the same period in the prior
fiscal year; revenue decreased sequentially 2% and 19% during our third and fourth quarters of fiscal 2009,
respectively.
License and Other Revenue
Total license and other revenue decreased 1% during fiscal 2009, as compared to fiscal 2008. Commercial
new seat revenue from our model-based, horizontal and vertical design products for fiscal 2009 was flat
compared to fiscal 2008. During fiscal 2009, we experienced a decrease of approximately 13 percentage points
due to lower number of seat licenses sold, offset by an increase of approximately 13 percentage points due to
higher average net revenue per seat. During fiscal 2009, there was less correlation between revenue growth and
seat license growth due to changes in our mix of geographies and products, proportion of maintenance in the user
base, currency exchange rates, and average selling prices, and we expect this trend to continue. As a percentage
of total net revenue, license and other revenue was 69% for fiscal 2009 and 75% for fiscal 2008.
Upgrade revenue, which includes crossgrade revenue, decreased by 8% during fiscal 2009 as compared to
fiscal 2008, as expected. The decrease in upgrade revenue was driven primarily by the relatively smaller size of
the upgradeable base of our AutoCAD-based products in fiscal 2009 as compared to the upgradeable base of our
AutoCAD-based products in fiscal 2008, due to more customers on our maintenance program.
Maintenance Revenue
Maintenance revenue increased 29% for fiscal 2009 as compared to fiscal 2008. Approximately 20
percentage points of the 29% increase was due to increases in program enrollment and approximately 9
percentage points of the increase was due to higher net revenue per maintenance seat for fiscal 2009 as compared
to the same period of the prior fiscal year. As a percentage of total net revenue, maintenance revenue was 31%
for fiscal 2009 and 25% for fiscal 2008. At January 31, 2009 our maintenance program enrollment consisted of
about 1.7 million users.
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