Autodesk 2010 Annual Report Download - page 188

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Note 17. Selected Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2010 and 2009 is as follows:
2010 1st quarter 2nd quarter 3rd quarter 4th quarter Fiscal year
Net revenue ................................ $425.8 $414.9 $416.9 $ 456.1 $1,713.7
Gross profit ................................ 373.5 364.8 371.9 411.7 1,521.9
Income (loss) before income taxes .............. (19.4) 13.4 32.0 58.7 84.7
Net income (loss) ........................... (32.1) 10.5 29.5 50.1 58.0
Basic net income (loss) per share ............... $(0.14) $ 0.05 $ 0.13 $ 0.22 $ 0.25
Diluted net income (loss) per share ............. $(0.14) $ 0.05 $ 0.13 $ 0.21 $ 0.25
2009 1st quarter 2nd quarter 3rd quarter 4th quarter Fiscal year
Net revenue ................................ $598.8 $619.5 $607.1 $ 489.8 $2,315.2
Gross profit ................................ 540.8 559.8 554.2 441.3 2,096.1
Income (loss) before income taxes .............. 126.8 125.1 136.2 (135.6) 252.5
Net income (loss) ........................... 94.6 89.8 104.5 (105.3) 183.6
Basic net income (loss) per share ............... $ 0.42 $ 0.40 $ 0.46 $ (0.47) $ 0.81
Diluted net income (loss) per share ............. $ 0.41 $ 0.39 $ 0.45 $ (0.47) $ 0.80
The first, second, third and fourth quarters of fiscal 2010 include stock-based compensation expense of
$23.0 million, $21.4 million, $30.3 million and $18.9 million, respectively. Results for the first quarter of fiscal
2010 include a $21.0 million charge for goodwill impairment. The first, second, third and fourth quarters of fiscal
2010 include restructuring charges of $16.5 million, $26.4 million, $4.9 million and $0.4 million, respectively.
Results for the first, second, third and fourth quarters of fiscal 2010 include amortization of acquisition-related
intangibles of $14.7 million, $15.0 million, $15.1 million and $13.6 million, respectively. Autodesk also
recognized a discrete non-cash tax charge of $21.0 million during the first quarter of fiscal 2010 related to a
change in expected future tax rates and the establishment of a valuation allowance against California deferred tax
assets.
Results for the fourth quarter of fiscal 2009 include a $128.9 million charge for goodwill and intangibles
impairment, and a $40.2 million charge for restructuring. Results for the first, second, third and fourth quarters of
fiscal 2009 include amortization of acquisition-related intangibles of $6.5 million, $28.5 million, $14.8 million
and $23.7 million, respectively. Autodesk also recognized income tax benefits of $6.1 million during the fourth
quarter of fiscal 2009 from closure of income tax audits and other decreases in FIN 48 reserves.
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