Autodesk reports 15% Q3 revenue increase
Company sees 10% revenue growth in EMEA region for Q3 2012
3D design software company Autodesk has reported a 15% increase in global revenue year-over-year for Q3 2012, revenue for this quarter totaled $549 million.
The company's GAAP operating margin was 16%, compared to 15% in the Q3 2011 and non-GAAP operating margin was 25%, compared to 21% in Q3 2011.
Cash flow from operating activities was $138m, compared to $114m in Q3 2011.
In the EMEA region, revenue was $202m, an increase of 10% compared Q3 2011 and 8% on a constant currency basis.
"Our business grew 15% in the third quarter as more and more people turned to Autodesk to help solve their most pressing design and engineering challenges," said Carl Bass, Autodesk president and CEO. "Our strong revenue gains coupled with continued cost controls resulted in a healthy improvement in profitability and cash flow from operations. We experienced double-digit growth across all geographies, with particular strength in Asia Pacific. All of our businesses performed well, driven by continued adoption of our suites."
Revenue in Asia Pacific was $146m, an increase of 28% compared to the third quarter last year as reported and 19% on a constant currency basis, while revenue in the Americas was $200m, an increase of 12% compared to the third quarter last year.
Revenue from emerging economies was $87m, an increase of 15% compared to the Q3 2011 and 11% on a constant currency basis. Revenue from emerging economies represented 16% of total revenue in the third quarter.
"We continue to advance on our plan of driving revenue growth and expanding our operating margin, controlling our costs, and making appropriate investments in the future of our business," said Mark Hawkins, Autodesk executive vice president, chief financial officer. "Our cash flow from operating activities remained strong, growing 20%, and helped fund a number of small, but important, business and technology acquisitions and strategic investments during the quarter. Our balance sheet remains solid with over $1.5 billion in cash and marketable securities and no debt."
Autodesk said that net revenue for fiscal 2013 is expected to increase by at least 10% compared to fiscal 2012.