SAN RAFAEL, Calif., Feb. 28, 2019 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) announced its financial results for the fourth quarter of fiscal 2019. **Fourth Quarter Fiscal 2019** - Total Annualized Recurring Revenue (ARR) reached $2.75 billion, up 34% compared to the same period last year on a reported basis and 32% on a constant currency basis. This includes a $27 million contribution from acquisitions in the fourth quarter, adding 1 percentage point to the growth. Under the previous revenue accounting standard, ASC 605, total ARR was $2.72 billion, reflecting a 32% increase. - Subscription plan ARR was $2.20 billion, showing an 87% increase compared to the fourth quarter last year as reported, and 85% on a constant currency basis. The subscription plan ARR included a $27 million contribution from the fourth quarter acquisitions, representing 2 percentage points of the increase. Under ASC 605, the subscription plan ARR was $2.16 billion, up 84% from the previous year. - Total subscriptions increased by 252,000 from the third quarter of fiscal 2019 to reach 4.33 million at the end of the fourth quarter. A significant portion of this growth came from the fourth quarter acquisitions, contributing 127,000 new subscriptions. - Subscription plan subscriptions rose by 418,000 from the third quarter of fiscal 2019 to 3.53 million at the end of the fourth quarter. This growth was supported by 110,000 maintenance subscribers who transitioned to product subscriptions under the maintenance-to-subscription program. The subscription plan also saw a contribution of 127,000 subscriptions from the fourth quarter acquisitions. - Deferred revenue totaled $2.09 billion, marking a 7% increase compared to the fourth quarter last year. Total deferred revenue, which includes both deferred revenue and unbilled deferred revenue, stood at $2.68 billion, an 18% increase from the previous year. A $36 million contribution from the fourth quarter acquisitions accounted for 2 percentage points of the year-over-year increase. The total deferred revenue included a $97 million contribution from the fourth quarter acquisitions, or 4 percentage points of the increase. Under ASC 605, total deferred revenue was $2.76 billion, an increase of approximately 21% compared to the fourth quarter last year. - Revenue amounted to $737 million, a 33% increase compared to the fourth quarter last year as reported, and 31% on a constant currency basis. The revenue included a $7 million contribution from the fourth quarter acquisitions, which accounted for 1 percentage point of the increase. Under ASC 605, revenue was $713 million, an increase of 29% compared to the fourth quarter last year. - Billings reached $1.04 billion, an increase of 39% compared to the fourth quarter last year. Billings included $43 million from the fourth quarter acquisitions, representing 6 percentage points of the increase. Under ASC 605, billings were $1.05 billion, an increase of 41% compared to the fourth quarter last year. - Total GAAP spending (cost of revenue plus operating expenses) was $697 million, a decrease of 5% compared to the fourth quarter last year. Excluding ASC 340, total GAAP spending was $710 million, a decrease of 3% compared to the fourth quarter last year. - Total non-GAAP spending was $598 million, an increase of 5% compared to the fourth quarter last year. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. Excluding ASC 340, total non-GAAP spending was $611 million, an increase of 7% compared to the fourth quarter last year. - GAAP diluted net income per share was $0.29, compared to a GAAP diluted net loss per share of $(0.79) in the fourth quarter last year. - Non-GAAP diluted net income per share was $0.46, compared to a non-GAAP diluted net loss per share of $(0.09) in the fourth quarter last year. - Cash flow from operating activities was $312 million, an increase of $232 million compared to the fourth quarter last year. Free cash flow was $294 million, an increase of $226 million compared to the fourth quarter last year. “Autodesk achieved multiple milestones in fiscal 2019 and is entering fiscal 2020 with strong momentum,” said Andrew Anagnost, Autodesk president and CEO. “With less than 20 percent of our revenues coming from maintenance, we are effectively finished with our business model transition and now look forward to executing on our multi-year growth strategy. Our core design offerings and cloud-based solutions for construction, manufacturing, and production are benefiting our customers as they undergo their own digital transformations, which offers an ongoing tailwind to our business. We are particularly excited about entering the new fiscal year with an unrivaled portfolio of cloud-based solutions for construction.” “With over $300 million in free cash flow for the year, we delivered well above our target and are demonstrating the cash generating power of our model,” said Scott Herren, Autodesk CFO. “Fiscal 2019 was a year of solid execution as we accomplished multiple financial milestones that have positioned us well to keep driving growth in fiscal 2020 and beyond. We’re exiting the business model transition with a much more predictable business at 95 percent recurring revenue and feel confident about our free cash flow goal for fiscal 2020.” For definitions, please view the Glossary of Terms later in this document. **Fourth Quarter Operational Overview** Total ARR for the fourth quarter increased 34% to $2.75 billion compared to the fourth quarter last year as reported, and 32% on a constant currency basis. Subscription plan ARR was $2.20 billion, an increase of 87% compared to the fourth quarter last year as reported, and 85% on a constant currency basis. Subscription plan ARR includes $470 million related to the maintenance-to-subscription program. Included in total ARR and subscription plan ARR is a $27 million contribution from the fourth quarter acquisitions. Maintenance plan ARR was $549 million, a decrease of 38% compared to the fourth quarter last year as reported, and 39% on a constant currency basis. Total subscriptions were 4.33 million, a net increase of 252,000 from the third quarter of fiscal 2019. Subscription plan subscriptions (product, EBA, and cloud) were 3.53 million, a net increase of 418,000 from the third quarter of fiscal 2019, led by new product subscriptions and 110,000 product subscriptions that migrated from maintenance plan subscriptions. Included in total subscription additions and subscription plan additions this quarter is a 127,000 contribution from the fourth quarter acquisitions. Maintenance plan subscriptions were 796,000, a net decrease of 166,000 from the third quarter of fiscal 2019, which includes the 110,000 that migrated to product subscription. Total recurring revenue in the fourth quarter was 93% of total revenue, consistent with the fourth quarter last year. Revenue in the Americas was $300 million, an increase of 29% compared to the fourth quarter last year. Revenue in EMEA was $299 million, an increase of 35% compared to the fourth quarter last year as reported, and 31% on a constant currency basis. Revenue in APAC was $138 million, an increase of 38% compared to the fourth quarter last year as reported, and on a constant currency basis. **Financial Highlights for Fiscal 2019*** - Total ARR increased 34% as reported, and 32% on a constant currency basis. - Included in total ARR is a $27 million contribution from the fourth quarter acquisitions, or 1 percentage point of the increase. - Total ARPS increased 15% to $635. - Included in total ARPS is the negative impact of $13 from the fourth quarter acquisitions, or negative 2 percentage points of the increase. - Billings increased 22% to $2.71 billion. - Billings includes a $43 million contribution from the fourth quarter acquisitions, or 2 percentage points of the increase. - Total revenue increased 25% to a record $2.57 billion. - Total revenue includes a $7 million contribution from the fourth quarter acquisitions, and had no impact on the growth percentage. - Migrated 452,000 maintenance customers to subscription. - Reached milestone of over 4 million active subscriptions. - Total deferred revenue increased 18% to $2.68 billion. - Total deferred revenue includes a $97 million contribution from the fourth quarter acquisitions, or 4 percentage points of the increase. - Free cash flow increased to $310 million, compared to $(50) million in fiscal 2018. - Recurring revenue increased to 95%, compared to 92% at the end of fiscal 2018. *All numbers are compared to fiscal 2018. Starting in the first quarter of fiscal 2020, Autodesk will discontinue quarterly reporting of subscriptions and ARPS. **Business Outlook** The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties some of which are set forth below under “Safe Harbor Statement.” Autodesk’s business outlook for the first quarter and full year fiscal 2020 assumes, among other things, a continuation of the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2020 GAAP and non-GAAP estimates is provided below or in the tables following this press release. **First Quarter Fiscal 2020** - Revenue (in millions): $735 – $745 - EPS GAAP: $0.06 – $0.10 - EPS non-GAAP (1): $0.44 – $0.48 (1) Non-GAAP earnings per diluted share excludes $0.34 related to stock-based compensation expense, $0.07 for the amortization of acquisition-related intangibles, $0.04 for acquisition related costs, and ($0.07) related to GAAP-only tax charges. **Full Year Fiscal 2020** - Total ARR (in millions): $3,500 – $3,550 (Up 27% – 29%) - Billings (in millions): $4,050 – $4,150 (Up 50% – 53%) - Revenue (in millions) (1): $3,250 – $3,300 (Up 26% – 28%) - GAAP spend growth (cost of revenue + operating expenses): Approx. 10% - Non-GAAP spend growth (cost of revenue + operating expenses) (2): Approx. 9% - EPS GAAP: $1.12 – $1.31 - EPS non-GAAP (3): $2.71 – $2.90 - Free cash flow: Approx. $1.35 billion (1) We do not expect foreign currency exchange rates or hedge gains/losses to materially impact our revenue guidance. (2) Non-GAAP spend excludes $310 million related to stock-based compensation expense, $64 million for the amortization of acquisition-related intangibles, and $31 million for acquisition related costs. (3) Non-GAAP earnings per diluted share excludes $1.39 related to stock-based compensation expense, $0.28 for the amortization of acquisition-related intangibles, $0.13 related to acquisition related costs, and ($0.21) related to GAAP-only tax charges. **Tax Rates and Foreign Currency Hedging** The first quarter and full year fiscal 2020 outlook assume a projected annual effective tax rate of 25 percent and 18 percent for GAAP and non-GAAP results, respectively. Assumptions for the annual effective tax rate are regularly evaluated and may change based on the projected geographic mix of earnings. The majority of the Euro, Yen, British pound and Australian dollar denominated billings for our first quarter fiscal 2020 have been hedged. This hedging, along with deferred revenue locked-in through prior period billings hedges, will reduce the impact of currency fluctuations on our fourth quarter results. However, over an extended period of time, currency fluctuations may increasingly impact our results. We also hedge certain expenses. We hedge our net cash flow exposures using a four quarter rolling layered hedge program. As such, a portion of the projected Euro, Yen, British pound and Australian dollar denominated billings for the remainder of fiscal 2020 have been hedged. The closer to the current time period, the more we are hedged. **Earnings Conference Call and Webcast** Autodesk will host its fourth quarter conference call today at 5:00 p.m. ET. The live broadcast can be accessed at http://www.autodesk.com/investor. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesk’s website simultaneously with this press release. A replay of the broadcast will be available at 7:00 p.m. ET at http://www.autodesk.com/investor. This replay will be maintained on Autodesk’s website for at least 12 months. **Glossary of Terms** **Annualized Recurring Revenue (ARR):** Represents the annualized value of our average monthly recurring revenue for the preceding three months. “Maintenance plan ARR” captures ARR relating to traditional maintenance attached to perpetual licenses. “Subscription plan ARR” captures ARR relating to subscription offerings. Refer to the definition of recurring revenue below for more details on what is included within ARR. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. **Annualized Revenue Per Subscription (ARPS):** Is calculated by dividing our annualized recurring revenue by the total number of subscriptions. **Billings:** Total revenue plus net change in deferred revenue from the beginning to the end of the period. **Cloud Service Offerings:** Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. **Constant Currency (CC) Growth Rates:** We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. **Core Business:** Represents the combination of maintenance, product, and EBA. **Enterprise Business Agreements (EBAs):** Represents programs providing enterprise customers with token-based access or a fixed maximum number of seats to a broad pool of Autodesk products over a defined contract term. **Free Cash Flow:** Cash flow from operating activities minus capital expenditures. **Maintenance Plan:** Our maintenance plans provide our 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 plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. **Other Revenue:** Consists of revenue from consulting, training and other services, and is recognized over time as the services are performed. Other revenue also includes software license revenue from the sale of products which do not incorporate substantial cloud services and is recognized up front. **Product Subscription:** Provides customers the most flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and SaaS functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. **Recurring Revenue:** Consists of the revenue for the period from our traditional maintenance plans and revenue from our subscription plan offerings. It excludes subscription revenue related to consumer product offerings, select Creative Finishing product offerings, education offerings, and third party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. **Subscription Plan:** Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. **Subscription Revenue:** Includes subscription fees from product subscriptions, cloud service offerings, and EBAs. **Total Deferred Revenue:** Is calculated by adding together total short term, long term, and unbilled deferred revenue. **Total Subscriptions:** Consists of subscriptions from our maintenance plans and subscription plan offerings that are active and paid as of the fiscal year end date. For certain cloud service offerings and EBAs, subscriptions represent the monthly average activity reported within the last three months of the fiscal quarter end date. Total subscriptions do not include education offerings, consumer product offerings, select Creative Finishing product offerings, Autodesk Buzzsaw, Autodesk Constructware, and third party products. Subscriptions acquired with the acquisition of a business are captured once the data conforms to our subscription count methodology and when added, may cause variability in the comparison of this calculation. **Unbilled Deferred Revenue:** Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services and maintenance for which the associated deferred revenue has not been recognized. Under ASC 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Consolidated Balance Sheet. **Safe Harbor Statement** This press release contains forward-looking statements that involve risks and uncertainties, including statements in the paragraphs under “Business Outlook” above, statements regarding ARR growth acceleration, other statements about our short-term and long-term goals and targets, statements regarding the impacts and results of our business model transition, expectations regarding the transition of product offerings to subscription and acceptance by our customers and partners of subscriptions, expectations for billings, revenue, subscriptions, spend, EPS, ARR and free cash flow, and other statements regarding our strategies, market and product positions, performance and results. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: failure to achieve our revenue and profitability objectives; failure to successfully manage transitions to new markets; failure to maintain cost reductions or otherwise control our expenses; failure to continue to innovate to meet competitive offerings; difficulty in predicting revenue from new businesses; general market, political, economic, and business conditions; any imposition of new tariffs or trade barriers; the impact of non-cash charges on our financial results; fluctuation in foreign currency exchange rates; the success of our foreign currency hedging program; our performance in particular geographies, including emerging economies; the ability of governments around the world to meet their financial and debt obligations, and finance infrastructure projects; weak or negative growth in the industries we serve; slowing momentum in subscription billings or revenues; difficulties encountered in integrating new or acquired businesses and technologies; the inability to identify and realize the anticipated benefits of acquisitions; the financial and business condition of our reseller and distribution channels; dependence on and the timing of large transactions; pricing pressure; unexpected fluctuations in our annual effective tax rate; significant effects of tax legislation and judicial or administrative interpretation of tax regulations, including the Tax Cuts and Jobs Act; the timing and degree of expected investments in growth and efficiency opportunities; changes in the timing of product releases and retirements; and any unanticipated accounting charges. Our estimates as to tax rate are based on current tax law, including current interpretations of the Tax Cuts and Jobs Act, and could be affected by changing interpretations of that Act, as well as additional legislation and guidance around that Act. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018 and Quarterly Report on Form 10-Q for the fiscal quarters ended April 30, 2018, July 31, 2018, and October 31, 2018, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. **About Autodesk** Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk. **Autodesk, Inc.** **Condensed Consolidated Statements of Operations** **(In millions, except per share data)** **Three Months Ended January 31,** **Fiscal Year Ended January 31,** **Unaudited** **Net revenue:** - Subscription: $550.0, $293.7, $1,802.3, $894.3 - Maintenance: $137.4, $219.8, $635.1, $989.6 - Total subscription and maintenance revenue: $687.4, $513.5, $2,437.4, $1,883.9 - Other: $49.9, $40.3, $132.4, $172.7 - Total net revenue: $737.3, $553.8, $2,569.8, $2,056.6 **Cost of revenue:** - Cost of subscription and maintenance revenue: $56.7, $52.8, $216.0, $214.4 - Cost of other revenue: $15.4, $16.6, $54.4, $72.6 - Amortization of developed technology: $4.9, $3.7, $15.5, $16.4 - Total cost of revenue: $77.0, $73.1, $285.9, $303.4 **Gross profit: $660.3, $480.7, $2,283.9, $1,753.2** **Operating expenses:** - Marketing and sales: $320.8, $301.5, $1,183.9, $1,087.3 - Research and development: $190.4, $182.2, $725.0, $755.5 - General and administrative: $100.7, $80.1, $340.1, $305.2 - Amortization of purchased intangibles: $6.2, $4.9, $18.0, $20.2 - Restructuring and other exit costs, net: $1.9, $93.9, $41.9, $94.1 - Total operating expenses: $620.0, $662.6, $2,308.9, $2,262.3 **Income (loss) from operations: $40.3, $(181.9), $(25.0), $(509.1)** **Interest and other expense, net: $(7.3), $(16.4), $(17.7), $(48.2)** **Income (loss) before income taxes: $33.0, $(198.3), $(42.7), $(557.3)** **Benefit (provision) for income taxes: $31.7, $24.8, $(38.1), $(9.6)** **Net income (loss): $64.7, $(173.5), $(80.8), $(566.9)** **Basic net income (loss) per share: $0.30, $(0.79), $(0.37), $(2.58)** **Diluted net income (loss) per share: $0.29, $(0.79), $(0.37), $(2.58)** **Weighted average shares used in computing basic net income (loss) per share: 219.2, 219.1, 218.9, 219.5** **Weighted average shares used in computing diluted net income (loss) per share: 221.3, 219.1, 218.9, 219.5** **Autodesk, Inc.** **Condensed Consolidated Balance Sheets** **(In millions)** **January 31, 2019** - Current assets: $1,620.0 - Marketable securities: $67.6 - Accounts receivable, net: $474.3 - Prepaid expenses and other current assets: $192.1 - Total current assets: $1,620.0 - Computer equipment, software, furniture, and leasehold improvements, net: $149.7 - Developed technologies, net: $105.6 - Goodwill: $2,450.8 - Deferred income taxes, net: $65.3 - Other assets: $337.8 - Total assets: $4,729.2 **Liabilities and Stockholders’ Equity** - Current liabilities: $2,301.2 - Long-term deferred revenue: $328.1 - Long-term income taxes payable: $21.5 - Long-term deferred income taxes: $79.8 - Long-term notes payable, net: $2,087.7 - Other liabilities: $121.8 - Common stock and additional paid-in capital: $2,071.5 - Accumulated other comprehensive loss: $(135.0) - Accumulated deficit: $(2,147.4) - Total stockholders’ deficit: $(210.9) - Total liabilities and stockholders’ deficit: $4,729.2 **Autodesk, Inc.** **Condensed Consolidated Statements of Cash Flows** **(In millions)** **Fiscal Year Ended January 31,** **Unaudited** **Operating activities:** - Net loss: $(80.8), $(566.9) - Adjustments to reconcile net loss to net cash provided by operating activities: - Depreciation, amortization and accretion: $95.2, $108.4 - Stock-based compensation expense: $249.5, $261.4 - Deferred income taxes: $(6.8), $(39.1) - Restructuring and other exit costs, net: $31.7, $94.1 - Other operating activities: $2.2, $7.3 - Changes in operating assets and liabilities, net of acquisitions: - Accounts receivable: $(25.4), $13.3 - Prepaid expenses and other current assets: $7.5, $(9.9) - Accounts payable and accrued liabilities: $(58.5), $(13.9) - Deferred revenue: $197.0, $168.3 - Accrued income taxes: $(34.5), $(22.1) - Net cash provided by operating activities: $377.1, $0.9 **Investing activities:** - Purchases of marketable securities: $(138.2), $(514.0) - Sales of marketable securities: $319.6, $489.0 - Maturities of marketable securities: $211.4, $594.3 - Acquisitions, net of cash acquired: $(1,040.2), — - Capital Expenditures: $(67.0), $(50.7) - Other investing activities: $4.0, $(12.2) - Net cash (used in) provided by investing activities: $(710.4), $506.4 **Financing activities:** - Proceeds from issuance of common stock, net of issuance costs: $90.9, $94.4 - Taxes paid related to net share settlement of equity awards: $(143.4), $(143.1) - Repurchase and retirement of common stock: $(293.5), $(699.0) - Proceeds from debt, net of discount: $500.0, — - Net cash (used in) provided by financing activities: $(346.0), $(747.7) **Net cash (used in) provided by operating activities: $377.1, $0.9** **Net cash (used in) provided by investing activities: $(710.4), $506.4** **Net cash (used in) provided by financing activities: $(346.0), $(747.7)** **Net increase (decrease) in cash and cash equivalents: $(679.3), $(240.4)**

Area Rug Pad

European-Style Rug Pad,Living Room Rug Mat,Coffee Table Rug Mat,Rectangular Anti-Slip Carpet

Anyang Qunxiu Plastics co.,ltd , https://www.qunxu.com