Autodesk 2011 Annual Report Download - page 103

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Results of Operations
Net Revenue
Fiscal Year
Ended
January 31,
2011
Increase (decrease)
compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2010
Increase (decrease)
compared to
prior fiscal year
Fiscal Year
Ended
January 31,
2009$ % $ %
(in millions)
Net Revenue:
License and other .......... $1,172.1 $191.4 20% $ 980.7 $(622.7) -39% $1,603.4
Maintenance .............. 779.7 46.7 6% 733.0 21.2 3% 711.8
$1,951.8 $238.1 14% $1,713.7 $(601.5) -26% $2,315.2
Net Revenue by Geographic Area:
Americas ................ $ 701.5 $ 47.1 7% $ 654.4 $(127.9) -16% $ 782.3
Europe, Middle East and
Africa ................. 782.8 111.7 17% 671.1 (332.3) -33% 1,003.4
Asia Pacific .............. 467.5 79.3 20% 388.2 (141.3) -27% 529.5
$1,951.8 $238.1 14% $1,713.7 $(601.5) -26% $2,315.2
Net Revenue by Operating
Segment:
Platform Solutions and
Emerging Business ...... $ 716.2 $ 92.2 15% $ 624.0 $(276.8) -31% $ 900.8
Architecture, Engineering and
Construction ............ 568.0 54.7 11% 513.3 (128.1) -20% 641.4
Manufacturing ............ 470.0 83.1 22% 386.9 (101.5) -21% 488.4
Media and Entertainment . . . 197.6 8.5 4% 189.1 (73.0) -28% 262.1
Other ................... — (0.4) -100% 0.4 (22.1) -98% 22.5
$1,951.8 $238.1 14% $1,713.7 $(601.5) -26% $2,315.2
Fiscal 2011 Net Revenue Compared to Fiscal 2010 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 Creative Finishing, consulting and training services, collaborative project
management services, and our former Location Services division. We divested the Location Services division in
February 2009.
Total license and other revenue increased 20% during fiscal 2011 as compared to fiscal 2010. License and
other revenue from horizontal design and vertical design products increased 18% and license and other revenue
from model-based design products increased 18%, each as compared to the prior fiscal year. These increases
were primarily due to the 31% increase in commercial new seat revenue during fiscal 2011 as compared to fiscal
2010. During fiscal 2011, 28 percentage points of the 31% increase was due to the increase in the number of
seats sold, and 3 percentage points was due to higher average net revenue per seat. Commercial new seat
revenue, as a percentage of license and other revenue, was 67% and 61% for fiscal 2011 and 2010, respectively.
Also contributing to the increase in license and other revenue during fiscal 2011, as compared to fiscal 2010,
was the 22% increase in upgrade revenue, which includes crossgrade revenue. Upgrade revenue was higher
during fiscal 2011 primarily due to a one-time increase in upgrades in response to a promotion in advance of the
March 2010 increase in upgrade pricing, an additional promotion run in the Americas geography in the fourth
quarter and an increase in the number of larger revenue transactions in fiscal 2011 as compared to fiscal 2010.
37