Autodesk 2015 Annual Report Download - page 134

2015 Form 10-K 42
We expect net revenue for the first quarter of fiscal 2016 will range from $625 million to $645 million, and that GAAP
diluted earnings per share will range from $0.01 to $0.06 while non-GAAP diluted earnings per share will range from $0.25 to
$0.30. Non-GAAP earnings per diluted share exclude $0.16 related to stock-based compensation expense and $0.08 related to
the amortization of acquisition related intangibles, net of tax.
We expect net billings for fiscal 2016 to increase by approximately 3% to 5% compared to fiscal 2015. We expect net
revenue for fiscal 2016 to increase by approximately 3% to 5% compared to fiscal 2015, and that GAAP diluted earnings per
share will range from $0.10 to $0.25 while non-GAAP diluted earnings per share will range from $1.05 to $1.20. Non-GAAP
earnings per diluted share exclude $0.70 related to stock-based compensation expense and $0.25 related to the amortization of
acquisition related intangibles, net of tax. Autodesk anticipates fiscal 2016 GAAP operating margin to be approximately 2% to
4% and non-GAAP operating margin to be approximately 13% to 15%. The non-GAAP operating margin excludes 8
percentage points related to stock-based compensation expense and 3 percentage points related to the amortization of
acquisition related intangibles, net of tax. Autodesk expects to add approximately 375,000 to 425,000 net new subscriptions in
fiscal 2016.
We remain diligent about managing our spend while making essential investments to drive growth. If we are unable to
successfully achieve our major business initiatives we may not achieve our financial goals.
Results of Operations
Fiscal Year
Ended
January 31,
2015
Increase (decrease)
compared to prior fiscal
year Fiscal Year
Ended
January 31,
2014
Increase (decrease)
compared to prior fiscal
year Fiscal Year
Ended
January 31,
2013
$ % $ %
(in millions)
Net Revenue:
License and other (1) $ 1,341.4 $ 86.5 7 % $ 1,254.9 $ (109.2) (8)% $ 1,364.1
Subscription (1) 1,170.8 151.8 15 % 1,019.0 70.9 7 % 948.1
$ 2,512.2 $ 238.3 10 % $ 2,273.9 $ (38.3) (2)% $ 2,312.2
Net Revenue by Geographic Area:
Americas $ 898.0 $ 79.1 10 % $ 818.9 $ (17.3) (2)% $ 836.2
Europe, Middle East, and Africa 980.0 128.2 15 % 851.8 (16.7) (2)% 868.5
Asia Pacific 634.2 31.0 5 % 603.2 (4.3) (1)% 607.5
$ 2,512.2 $ 238.3 10 % $ 2,273.9 $ (38.3) (2)% $ 2,312.2
Net Revenue by Operating Segment:
Architecture, Engineering, and
Construction (1) $ 872.6 $ 142.0 19 % $ 730.6 $ 29.5 4 % $ 701.1
Platform Solutions and
Emerging Business (1) 796.7 7.5 1 % 789.2 (53.8) (6)% 843.0
Manufacturing (1) 675.6 96.2 17 % 579.4 5.6 1 % 573.8
Media and Entertainment (1) 167.3 (7.4) (4)% 174.7 (19.6) (10)% 194.3
$ 2,512.2 $ 238.3 10 % $ 2,273.9 $ (38.3) (2)% $ 2,312.2
____________________
(1) For comparability, the presentation of the balances at January 31, 2013 was adjusted to align to current year presentation.
Fiscal 2015 Net Revenue Compared to Fiscal 2014 Net Revenue
Certain prior period balances have been updated to conform with current period presentation.
License and Other Revenue
License and other revenue consists of two components: (1) all forms of product license revenue and (2) other revenue.
Product license revenue includes software license revenue from the sale of seat licenses, term-based licenses from our desktop
subscription and enterprise offerings, and product revenue for Creative Finishing. Other revenue includes revenue from
consulting, training, Autodesk Developers Network, and Creative Finishing customer support, and is recognized as the services
are performed.
2015 Annual Report