Autodesk 2011 Annual Report Download - page 104

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Revenue from the sales of our services, training and support, included in “License and other revenue,”
represented less than 4% of net revenue for all periods presented.
Maintenance Revenue
Our maintenance revenue relates to a program known by our user community as the Subscription Program.
Our maintenance program provides our commercial and educational customers with a cost effective and
predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and
if released during the term of their contracts. Under our maintenance program, customers are eligible to receive
unspecified upgrades when and if available, downloadable training courses and online support. We recognize
maintenance revenue ratably over the maintenance contract periods.
Maintenance revenue increased 6% during fiscal 2011, as compared to fiscal 2010, primarily due to a 7%
increase in commercial maintenance revenue. Total subscription program enrollment at January 31, 2011 and
2010 consisted of about 2.9 million users and 2.2 million users, respectively.
The 7% increase in commercial maintenance revenue was due to a 5 percentage point increase in net
revenue per maintenance seat and a 2 percentage point increase in commercial enrollment during the
corresponding maintenance contract term. Commercial maintenance revenue represented 98% of maintenance
revenue for both fiscal 2011 and 2010.
Changes in maintenance revenue lag changes in net billings for maintenance contracts because we recognize
the revenue from those contracts ratably over their contract terms, which are predominantly one year, but may be
two or three year, or occasionally as long as five year terms. Net maintenance billings increased 14% during
fiscal 2011 as compared to fiscal 2010. This increase was due to an increase in renewals, more new seats sold
and the impact from the upgrade pricing promotion mentioned above.
Aggregate backlog at January 31, 2011 and January 31, 2010 was $615.4 million and $542.5 million,
respectively, of which $587.9 million and $516.5 million, respectively, represented deferred revenue. Backlog
related to current software license product orders that had not shipped at the end of the quarter increased by $1.5
million during fiscal 2011 from $26.0 million at January 31, 2010 to $27.5 million at January 31, 2011. Deferred
revenue consists primarily of deferred maintenance revenue. To a lesser extent, deferred revenue consists of
deferred license and other revenue derived from collaborative project management services, consulting services
and deferred license sales. Backlog from current software license product orders that we have not yet shipped
consists of orders for currently available licensed software products from customers with approved credit status
and may include orders with current ship dates and orders with ship dates beyond the current fiscal period.
Net Revenue by Geographic Area
Net revenue in the Americas geography increased by 7% both as reported and on a constant currency basis,
during fiscal 2011, as compared to fiscal 2010. This increase was primarily due to a 33% increase in revenue
from new seats in the Americas during fiscal 2011 as compared to fiscal 2010. Maintenance revenue increased
3% during fiscal 2011 as compared to fiscal 2010. The Americas was affected by slower economic growth than
our other geographies, which impacted growth rates for all of our products during fiscal 2011.
Net revenue in the EMEA geography increased by 17%, or 18% on a constant currency basis, during fiscal
2011 as compared to fiscal 2010. The increase was primarily due to a 24% increase in new seat revenue and a 9%
increase in maintenance revenue. The EMEA geography’s increase in revenue during fiscal 2011 was primarily
due to economic expansion in virtually all countries in that geography. The increase in our revenue in that
geography was led by Germany, France, the United Kingdom and Belgium.
Net revenue in the APAC geography increased by 20%, or 17% on a constant currency basis, during fiscal
2011, as compared to fiscal 2010, primarily due to a 24% increase in new seat revenue and a 48% increase in
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